Nagad, a leading mobile financial service (MFS) provider in Bangladesh, has turned into a unicorn startup only in four years of its launch – the fastest in Bangladesh to reach this impressive feat.
In recognition of the achievement, Tanvir A Mishuk, founder and managing director of Nagad Limited, received the “Fastest to Unicorn Award” from Honourable Prime Minister Sheikh Hasina at “Bangladesh Startup Summit 2023” in Hotel InterContinental Dhaka on Saturday.At the award giving ceremony eight organisations received awards in eight categories.
Startup Bangladesh Limited, the flagship venture capital company of the Information and Communication Technology Division of the Government of Bangladesh, organised the two-day event that brought together startups, enterprises, venture capitalists, angel investors, regulators, think-tanks, and experts from various countries.
In this way, the state-owned mobile money carrier has established itself as the fastest unicorn startup in Bangladesh with a valuation of $1 billion, equivalent to Tk 10,000 crore, only in four years of its journey.
The term unicorn was first published a decade ago. A privately held startup company with a valuation of $1 billion is called unicorn. Currently, there are around 1,200 unicorn startups in the world.
This is for the first time in Bangladesh, such a grand event has been organised to honour startups. And Nagad, an arm of Bangladesh Postal Department, was the first startup to have got this recognition.
