RemitFast
⭐ FeaturedRaising
৳20,000,000
Stage
Series A
Sector
FinTech
Ask Amount
৳20,000,000
Sector
FinTech
Stage
Series A
Location
Dhaka
Business Overview
Problem
Bangladesh receives $21B in annual remittances, but traditional channels charge 5-8% fees and take 2-5 days. This costs the diaspora over $1B annually in unnecessary fees.
Solution
RemitFast uses blockchain rails to enable near-instant remittances at under 1% fee. Recipients receive funds directly to mobile wallets within minutes.
Target Market
10 million Bangladeshi diaspora sending money home. Primary corridors: UAE, Saudi Arabia, UK, USA, Malaysia.
Traction
৳15 crore processed in last 6 months. 8,500 active users. Average transfer time: 4 minutes.
Use of Funds
Regulatory licenses in 5 countries (45%), Technology infrastructure (35%), Marketing (20%)
Key Metrics
Active users: 8,500
Avg transfer time: 4 min
Fee: 0.8%
Deal Information
Disclaimer: Investment involves risk. This is not financial advice. Please conduct your own due diligence before investing.