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Apon raised pre-seed foreign and local Investment of 1.5 Million USD

Apon Investment Announcement Ceremony is an event that will celebrate Apon’s impactful journey, unveil its latest achievements, and announce a successful investment raise of 1.5 million USD ( will be disclosed during the event). A diverse audience representing various industries, including fintech, retail, manufacturing, banking, and the startup ecosystem, are expected to attend.

Honourable  State  Minister,  Mr.  Zunaid  Ahmed  Palak ,  MP,  Minister  Ministry  of  Posts,  Telecommunications  and  Information  Technology  have  graced  as  the  Chief  Guest  to  launch  the  event,  while  Faruque  Hassan,  President,  BGMEA  &  Sami Ahmed,  Managing  Director  Startup  Bangladesh  Ltd.  is  confirmed  as  a  Special  Guest.  Neela  Hosna  Ara,  Director  BGMEA  &  investor  of  Apon  Bazaar  &  Co-Founder  and Chairperson, Crony Group will attend  as our guest.

Apon, a visionary enterprise in Bangladesh, has been steadfast in its mission to uplift low-income communities with pioneering financial solutions. The company is committed to enhancing the health and economic well-being of industrial workers, predominantly women, in low-income brackets. By 2025, Apon aims to establish a sustainable platform to benefit 1 million industrial workers, generating a cumulative savings of USD 1 million for them.

The company has already made significant strides in this direction, offering grocery credit, promoting financial inclusion, and improving healthcare access for millions.

Established in 2017, Apon embarked on a mission to align the dreams and daily lives of Bangladesh’s RMG workers, especially women, by understanding and addressing their challenges and goals. It evolved from a conventional grocery business to a digital-first platform, with 2022 marking a significant push towards digital integration. Apon’s journey began with offering grocery credit, gradually expanding to include broader financial services like cash credit and instalment options for home appliances.

Central to Apon’s evolution is its unwavering focus on customer-centric innovation. By deeply understanding RMG workers’ needs, particularly those of women, Apon ensures its services are tailored effectively to their requirements.

Key initiatives like interest-free grocery credit, purchase discounts, targeted loans, and free health insurance have substantially lightened the financial load for workers. These offerings not only alleviate financial strain but also contribute to improving their overall quality of life. Apon continues to pioneer solutions that prioritize convenience and necessity without adding financial pressure, consistently working towards the betterment of its customers’ lives.

Apon  has  significantly  transformed  the  lives  of  workers,  especially  those  in  the  RMG  sector,  through  various  initiatives.  By  providing  access  to  financial  services  like  interest-free  grocery  credit,  purposeful  loans,  and  installment  facilities  for  household  appliances,  Apon  has  facilitated  financial  inclusion,  enabling  workers  to  manage  their  finances  effectively.  Moreover,  Apon’s  provision  of  discounts  on  purchases  and  free  health  insurance  has  helped  workers  reduce  their  expenses,  allowing  them  to  save  more  and  enhance  their  financial  stability.  The  transition  to  a  digitally-driven  platform  has  further  improved  convenience  and  accessibility,  allowing  workers  to  access  financial  services  through  mobile  applications  and  online  platforms.  Through  its  customer-centric  approach  and  innovative  solutions,  Apon  has  empowered  workers,  particularly  women,  by  addressing  their  specific  needs  and  aspirations,  thereby  significantly  improving  their  overall  quality  of  life.  Serving  more  than 175,000   workers  in 32   factories,  Apon  has  facilitated  a  total  savings  of  over  $600,000  and  provided  free  health  insurance  to  over  10,000  customers.  Additionally,  the  platform  has  facilitated  $21.5  million  in  credit  for  workers,  underscoring  its  significant  impact  on  enhancing  the  financial  well-being  of  workers  in the RMG sector.

 Notable Growth and Recognition:

  • Listed in the “100 Meaningful Business 2023.”  Winner of the Fintech Challenge by Finlab Bangladesh.
  • Participant in the UNCDF Financial Inclusion Project.
  • Winner of the Tommy Hilfiger Fashion Frontier Challenge in 2019.  Winner of the Metlife Inclusion Plus in 2018.

 

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