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I'm from a country where number of low income group represent the market.I,m planning to create a platform so that they don't go cashless
  • Sector Financial & payment services
  • Country Bangladesh
  • Founding date September 2020
  • Stage Idea
90% of the low income group finishes their cash before the month ends and survive somehow till they get paid again. Among them 60% takes loan from lenders on high interest.I want to create a platform where they can have access to their unpaid earned salary as a short term loan through mobile bankin

General

Sector
Financial & payment services
Category
Consumer
Product usage or interact
Mobile/Tablet (Android))

Business

Customer acquisition strategy
It will be easy to acquire customer through digital marketing(facebook,youtube,instagram, news portals etc) and physical marketing like posters, banners, leaflets, meetings etc
Revenue model
My main source of revenue will be small tip/interest the users will pay. As i will offer small loans fort short term the cycle of cash flow will be at least thrice a month which means i will get three times tips for the same money invested. As i will offer very low tip/interest users will be encouraged to use the service multiple times.

Market info

Market size
$10,000,000

Total early investment
$50,000
Shareholder structure
Owner type
Name
Equity
Nahian Islam
Founder
% 100
Investment round
Angel Investment
Investment amount
$50,000
Equity on offer
% 40.0

Team

Nahian Islam  - Bangladesh
Total team member
1
Comment
Last update: 29.10.2020