Inclusive Fintech 50 has named Bangladesh Postal Department’s digital financial service Nagad as its top cohort of fintech startups for 2020.
The announcement came on Tuesday in Washington. Nagad, the fastest growing mobile financial service in Bangladesh, was selected in the payments category a pool of 403 applications operating in 111 countries, said a press release.Inclusive Fintech 50 was founded by MetLife Foundation and Visa, with the support from Accion and the International Finance Corporation (IFC), and additional funding from BlackRock and Jersey Overseas Aid & Comic Relief.
About this recognition, Tanvir A Mishuk, Managing Director of Nagad, said, “We are delighted that global organization like Inclusive Fintech 50 has put Nagad on their top global list. Since the launch of the service, we have been working on the issue of financial inclusion with utmost importance and this is a recognition of our relentless effort.”
Along with Nagad 10 South Asia companies, 10 companies from East Asia and the Pacific, 5 from Europe and Central Asia, 8 from Latin America and the Caribbean, 6 from North America, and 12 companies from Sub-Saharan Africa were also named in the list.
Launched in 2019, Inclusive Fintech 50 identifies and elevates high-potential, early-stage, and innovative fintech startups driving financial inclusion and resilience. The initiative is implemented by MIX, the global data resource for investors focused on inclusive finance.