Rolling Round process
New funding available to boost Bangladesh financial sector innovation
The Business Finance for the Poor in Bangladesh (BFP-B) Challenge Fund invites applications to launch cutting-edge innovations that can improve financing opportunities for the country’s small businesses.
This latest round of challenge funding from the BFP-B is open to banks, microfinance institutions, insurance companies, fintech providers, non-bank financial institutions, and others in the private sector supporting initiatives to improve access to finance.
In the last two years, the BFP-B Challenge Fund has co-invested in 25 projects across a number of areas including simplified business solutions, data enabled investment readiness, alternative delivery channel, digital finance applications, de-risking instrument and alternative investment platform. Many of these exciting new ventures are now in operation, brining convenience, speed, reach and transparency of financial services to both small businesses and financing institutions nationwide
If your organization has plans to bring innovative products and services to under-served small business in Bangladesh within the first half of 2019, follow the instructions below, and submit a 5 minute video pitch.
Who is eligible to apply for BFP-B challenge funding?
Please NOTE- Business cases that have gone through development phase and ready to be launched in the market within 6 months of contract signing are eligible to apply
- The lead organisations must be a private for-profit company or financial institutions operating in Bangladesh
- Organisations must have audited accounts for the last 2 years
- All applicants must demonstrate their capacity to implement their proposed project, adequate financial strength and clear corporate governance
- All projects financed by BFP-B must be aimed at MSEs (number of MSEs benefited, number of MSEs receiving business development services, volume of financing disbursed to MSEs from formal financial institutions
- The project promoters including the lead company/ financial institution, collaborating organisations and third parties such as co-investors and other lenders must provide matching funds of at least 50% of the total cost of the business ideas
- Applicants must be in a position to launch their product/service in the market within 6 months of contract signing
- Lead organisations should be in a position to start project implementation from December 01, 2018. BFP-B will provide support to winning organisations for one year.
How to apply
Interested applicants will have to have submit their initial pitch to BFP-B through an application form and video pitch. Please visit Rolling Round Application for more details on proposal submission.
Please email to MChowdhury@nathaninc.com or Smostafa@nathaninc.com, if you are interested to discuss about your idea before the final submission.