Two Founder Institute Dhaka graduates received seed investments from Fenox Venture Capital in a pitch session organized by Founder Institute Dhaka. Both SmartKompare and HandyMama, received $15,000 as a cash prize for their great pitches. The report was originally delivered by Ibrahim Mahbub in a Future Startup article titled “HandyMama And SmartKompare To Receive Seed Funding From Fenox Venture.”
SmartKompare, a financial product comparison startup, aims to help its users find the best financial products. The startup will let people compare financial products from several financial institutions in order to select the best one that meets their needs. SmartKompare aggregates information about financial products from all possible sources and finds the best loans, deposits, credit cards, and insurances for you.
The market size for loan and deposit was estimated at $162 billion in 2014, and 4% was solely in retail loan and deposit. SmartKompare aims to work specifically in the retail-area. The Internet penetration in Bangladesh is on the rise; which means more people will be purchasing and paying online using credit cards and other financial products. SmartKompare wants to be there to serve this large pool of people to make the right financial decisions every day.
The number of people using credit cards and paying online is on the rise; it means more people will be choosing credit cards in coming days. That’s an opportunity we want to tap into." -Ron Mahbub, Co-founder of SmartKompare
HandyMama.co is a Web and Mobile based platform with a Call Center where people can outsource their everyday household tasks (cleaning, laundry, dish washing, toilet cleaning, etc.) and tasks that requires special skills or tools (electrical, plumbing, sanitary, fixing home appliance, etc.) Currently, the startup has 50+ freelance taskers on board with a list of potential customers to test the service. The company ensures they only list a tasker after a proper security check and when the tasker offers the best market price.
On demand services are significantly growing across the globe. Especially, given the population size in Dhaka, there is a huge demand for convenience services like HandyMama. The company hopes to attract a large portion of the market with its service, as they provide a great deal of value to the increasingly busy population.
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