Nagad Emerges as Bangladesh's Top Financial Service Provider

Nagad, a leading mobile financial service provider in Bangladesh, has achieved remarkable success since its inception. Within just three years, it has become the most successful startup unicorn in the country. State Minister for Posts, Telecommunications, and Information Technology (ICT) Zunaid Ahmed Palak highlighted Nagad's significant contribution to the government's revenue, amounting to BDT 145 million over the past four years.

One key factor in Nagad's success is its strategic partnership with the Postal Department, utilizing their infrastructure and policy support. This collaboration has played a crucial role in Nagad's rapid growth, as acknowledged by the company's founder and CEO, Tanvir A Mishuk.

Looking ahead, Nagad is preparing to launch a digital bank that will offer a wide range of financial services on a single digital platform. The upcoming Nagad Digital Bank aims to provide special loan facilities to BASIS members, focusing on supporting entrepreneurs in the IT sector.

Under the revenue-sharing agreement, the Postal Department receives 51% of Nagad's income, leading to a significant increase in the department's revenue. Recognizing its achievements, Nagad was honored with the 'Fastest to Unicorn Award' by Prime Minister Sheikh Hasina in 2023.

With 95 million registered customers and daily transactions exceeding USD 153 million, Nagad Limited has become a key player in Bangladesh's payment industry. Launched in 2019 through a successful collaboration between the Bangladesh Postal Department and the private sector, Nagad has made a significant impact on the country's digital payment landscape.

Nagad's rapid rise in the financial services sector showcases the power of strategic partnerships and innovation. By leveraging existing infrastructure and policy support, Nagad has not only boosted government revenue but also provided valuable financial services to millions of customers. As Nagad continues to expand its offerings, it remains a beacon of success in Bangladesh's evolving digital economy.