EkkBaz gets US investment for cross-border internet programme

US venture capital firm SOSV has named Bangladesh-based startup EkkBaz, led by Bangladeshi born founders Enam Chowdhury and Zobaida Sultana, as 1 of the 10 startups that received nearly US$150,000 in seed funding as part of its cross-border internet programme.

EkkBaz, a B2B e-commerce platform, providing warehouse inventory and logistics support with micro lending solutions for small business retailers in Bangladesh, has already impacted thousands of retailers Dhaka.

In the last 6 months of operations, EkkBaz’s gross monthly revenue has already grown by 800%.

SOSV has selected ten startups across Asia and Africa, driving positive change in food security for Africa and Asia to providing credit solutions for unbanked. EkkBaz is the first investment for SOSV in Bangladesh market.

“The ubiquity of smartphones, social commerce, and consumers hungry for new experiences make Asia and Africa both fertile grounds for breakthrough internet companies,” said William Bao Bean, general partner at SOSV.

“At EkkBaz, our aim is to empower small business owners to increase their incomes and transform themselves with digital tools. We are excited and looking forward to support more and have a positive impact in their lives.” said Enam Chowdhury, co-founder of EkkBaz.

The press release, issued on Monday, said Enam left his job in Microsoft and returned to Bangladesh to setup EkkBaz together with Zobaida to drive more root-level digitization in Bangladesh in line with Digital Bangladesh vision.

TH

 

 

EkkBaz gets US investment for cross-border internet programme

US venture capital firm SOSV has named Bangladesh-based startup EkkBaz, led by Bangladeshi born founders Enam Chowdhury and Zobaida Sultana, as 1 of the 10 startups that received nearly US$150,000 in seed funding as part of its cross-border internet programme. EkkBaz, a B2B e-commerce platform, providing warehouse inventory and logistics support with micro lending solutions for small business retailers in Bangladesh, has already impacted thousands of retailers Dhaka. In the last 6 months of operations, EkkBazs gross monthly revenue has already grown by 800%. SOSV has selected ten startups across Asia and Africa, driving positive change in food security for Africa and Asia to providing credit solutions for unbanked. EkkBaz is the first investment for SOSV in Bangladesh market. The ubiquity of smartphones, social commerce, and consumers hungry for new experiences make Asia and Africa both fertile grounds for breakthrough internet companies, said William Bao Bean, general partner at SOSV. At EkkBaz, our aim is to empower small business owners to increase their incomes and transform themselves with digital tools. We are excited and looking forward to support more and have a positive impact in their lives. said Enam Chowdhury, co-founder of EkkBaz. The press release, issued on Monday, said Enam left his job in Microsoft and returned to Bangladesh to setup EkkBaz together with Zobaida to drive more root-level digitization in Bangladesh in line with Digital Bangladesh vision. TH