Sheba Raises US$2.9Mn from BSRM and Startup Bangladesh Limited
Summary
The platform currently has 35,000 active users and plans to give SMEs access to markets, finance, and decision-making tools at scale. Shebas Co-Founder & CEO Adnan Imtiaz Halim stated, "There is significant potential in bringing solutions to Bangladeshs SME landscape, which is projected to contribute US$500Bn to the economy by 2041. "Monir Hossain, BSRMs Head of Corporate Strategy adds: The countrys MAC population is expanding rapidlyby an average of 10.5 percent annually and is expected to reach 34 million by 2025. We think Sheba is rightly placed and ready to meet the expectations of the MAC population with a mission to build a well-recognized service Industry by embracing the demand to build a cashless society, have the SMEs liberated with digital and financial inclusion who account for 25% of the countrys GDP. We at BSRM firmly believe that the country will see a significant development of a cashless society soon and Sheba will be named as the pioneer in this journey.