Zatiq, the dynamic nine-month-old startup, has successfully raised an astounding $1.6 million in a pre-seed funding round, marking a significant milestone as the largest early-stage investment secured by a Bangladeshi startup this year.
The pre-seed round was spearheaded by the prestigious Dekko ISHO Venture Capital (DIVC), which led the charge in support of Zatiq’s vision. The startup also received backing from both local and international angel investors. Notable local investors include the esteemed stockbroker and fund manager Faizan Huda, along with prominent businessman Shajjad Ali Khan. On the international front, the investment from renowned public speaker Karim Atassi added an extra layer of global recognition to Zatiq’s cause. Further contributions from NRB investors such as Shaikh Akib Shahriyar and Rifat Ara Tasnim exemplify the growing international interest in Bangladesh’s burgeoning startup scene.
Led by the seasoned entrepreneur Sultan Moni and co-founded by Mumtahina Anika and Fahim Al Mahmud, Zatiq is on a mission to transform the prospects of Bangladesh’s 4.5 million small and medium businesses (SMEs). The startup aims to empower these enterprises with cutting-edge digital solutions that eliminate the obstacles of technical complexity, allowing them to embrace digital payments and access vital financial services with ease.
Numerous local SMEs currently grapple with limited access to capital and a dearth of technical know-how, stifling their potential for growth. Understanding these pain points, Zatiq is crafting tailor-made hardware and software products designed exclusively for the Bangladeshi SME landscape. One such revolutionary product is the Zatiq Business Calculator, a collaborative effort between Zatiq and Tohands, catered to the preferences of local MSMEs, who seek simplicity in technology without compromising efficiency.
With the Zatiq Business Calculator, micro-merchants can now effortlessly track transactions and pending dues while directly dispatching payment reminders, effectively streamlining their accounting processes. The calculator also streamlines loan applications, thereby addressing the critical issue of credit accessibility faced by SMEs. Through these thoughtfully engineered products, Zatiq endeavors to elevate operational efficiency, drive increased revenues, and foster financial inclusion among local businesses.
Sultan Moni, the visionary founder of Zatiq, believes that Bangladesh boasts an abundance of entrepreneurial talent and untapped opportunities. He envisions the country becoming a burgeoning tech and startup hub in South Asia within the next decade, with innovative enterprises like Zatiq playing a pivotal role in breaking down barriers for SMEs.
By earnestly tackling the challenges faced by SMEs and inspiring other startups to follow suit, Zatiq aspires to trigger a positive chain reaction that will uplift Bangladesh’s business landscape as a whole. The outstanding success of their pre-seed funding round has positioned Zatiq on a trajectory to transform this vision into reality, emboldening local businesses with the tools they need to thrive in the digital age.
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