A mobile money carrier app known as Nagad, has become the fastest company to be honoured as a unicorn startup in the nation’s history.
The company received the prestigious appraisal only four years into its journey as Nagad as reward for the way it has reshaped the country’s MFS industry with one after another disruptive innovation and inspired confidence among people to embrace its products and services that are convenient and affordable.
After receiving the “Fastest to Unicorn Award” from Honourable Prime Minister of People’s Republic of Bangladesh Sheikh Hasina, Founder and Managing Director of Nagad Ltd., Tanvir A Mishuk said: “The way Digital Bangladesh is marching ahead we should have achieved the unicorn status much earlier, now, our challenge is to take our company’s valuation to USD 2 billion.”
Despite the lofty targets, Nagad Ltd.’s ambition spreads much further than profit margins, as the company aims to grow into a complete financial solution, establishing a digital bank that will make all financial services available on a single platform.
“If we get the licence for digital bank, we will introduce collateral-free loans for small informal businesses who now take loans from moneylenders at 40% interest rate per day,” said Tanvir A Mishuk.
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