 Logo since 2010 | |
 bKash Corporate Office | |
| Company type | Private |
|---|---|
| Founded | July 21, 2010; 15 years ago (2010-07-21) |
| Founder | Kamal Quadir |
| Headquarters | Shadhinata Tower, 1, Bir Sreshtha Shaheed Jahangir Gate, Dhaka Cantonment, Dhaka 1206 |
Area served | Bangladesh[1][2] |
Key people |
|
| Services | Mobile financial services |
| Parent | BRAC Bank,Ant Financial,Bill & Melinda Gates Foundation, Money in Motion LLC,International Finance Corporation,SoftBank Vision Fund[3] |
| Website | bkash |
bKash Limited (Bengali:বিকাশ d/b/a:bkash) is a mobile financial service (MFS)[4] inBangladesh operating under the authority ofBangladesh Bank as a subsidiary ofBRAC Bank PLC.[5] This mobile financial service company started as a joint venture betweenBRAC Bank Limited০১৭৭০৭৭৪৩৪৬/২২০৬০৯)৬০০০০০০বিকাশ
bKash was launched byKamal Quadir andIqbal Quadir. In the mid-2000s, mobile financial services, Mobile Service Internet Service, Value Added Service had taken off in the Philippines, Kenya, and other emerging markets when the two Quadir brothers decided to bring it to Bangladesh. In need of a local partner, the Quadir brothers began to engage BRAC's founder,Sir Fazle Hasan Abed, in 2008. Discussions between them and Abed continued over a two-year period. In 2010, they committed to establishing a joint venture between Money in Motion and BRAC Bank.[6] bKash launched on 21 July 2011 inBangladesh, with basic services: Cash In, Cash Out and Send Money, keeping in mind that more than 70% of the population ofBangladesh lives in rural areas where access to formal banking services is difficult for people.[7][8] Currently, bKash is serving more than 82M verified users all across Bangladesh.
bKash started in 2011 as a joint venture between BRAC Bank Limited, Bangladesh, and Money in Motion LLC, United States of America. In April 2013, International Finance Corporation (IFC), a member of theWorld Bank Group, became an equity partner. In March 2014,Bill & Melinda Gates Foundation became an investor in the company,[9] and in April 2018Ant Financial, the operators ofAlipay (an affiliate company of Chinese giantAlibaba Group), became an equity partner,[10] announced a strategic partnership to promote financial inclusion for the unbanked and underbanked communities in Bangladesh. Later, in November 2021, SoftBank Vision Fund II has invested $250 million in bKash, acquiring a significant stake of over 10%. This investment has significantly increased bKash's valuation.[11]
As a mobile financial service (MFS) provider inBangladesh, bKash users can transfer money into their mobile accounts and then access a range of services. In particular, transferring and receiving money domestically and making payments. Services like mobile recharge prepaid and postpaid package internet service Value Added Service Customer Service or paying utility bills are also possible through bKash USSD (*247#) and bKash App. A user can receiveremittance on bKash.[12] In November 2021,bKash became the first everunicorn startup (a startup whose valuation is $1 billion or more)[13][14] company in Bangladesh.[15][16]
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bKash has become an integral part of Bangladeshi daily life, revolutionizing the country's financial landscape. The mobile financial service (MFS) app offers a wide range of features, from sending and receiving money to paying bills and availing loans. Launched in 2018, bKash quickly gained popularity due to its convenience, security, and regulated transactions. The app's user-friendly interface and diverse services have made it accessible to millions. it has been recognized as the best innovation at the Financial Innovation Category in Bangladesh Innovation Award 2018 for its simplified and useful features.[17][18]
Fortune magazine ranked bKash 23rd among the top 50 companies in theirChange the World list in 2017.[19][20]Asiamoney magazine declared bKash as the Best Digital Solution[21]
In May 2023, bKash became the regional sponsors of theArgentina Football Association.[22][23][24]
bKash became country's first Unicorn
