In a remarkable feat demonstrating the vibrancy of Bangladesh’s startup ecosystem, Sheba Platform Limited is the only startup who has secured an investment of BDT 100 Crore, solely from local investors. This achievement not only marks a significant milestone for Sheba but also reflects a growing confidence in the country’s flourishing tech scene.
Founded in 2016, Sheba began as an ambitious project aimed to storm the service industry with the first ever marketplace for services.. Today, it is yet the largest service marketplace which is a testimony to what can be achieved when innovation meets the right funding and support. The company’s latest funding round is a clear indicator of the local investment community’s faith in Sheba’s vision and capabilities.
Sheba’s Journey to Success
Born in the most dynamic and challenging decade of Bangladesh, the company has navigated through various hurdles, growing from a small startup to a leading name in the tech industry. It’s a journey that mirrors the nation’s own path of progress and development.
The company operates through its four primary business units – Sheba.xyz, sManager, sBusiness (digiGo), and Sheba Pay. Each of these units caters to different segments of the market, yet they collectively contribute to Sheba’s overarching mission of building an ecosystem for the digital empowerment and financial inclusion of small and medium businesses.Sheba.xyz, the flagship platform, is the largest service marketplace in Bangladesh, connecting thousands of service providers with consumers. sManager serves as an operating system for small and medium businesses, digiGo as a mobile HR manager, and Sheba Pay has recently made strides in the fintech sector.
The Power of Local Investment
The infusion of BDT 100 Crore from local investors is a pivotal moment for Bangladesh’s startup ecosystem. It marks a shift from traditional reliance on foreign capital to a more self-reliant, locally-driven investment approach. This funding strategy not only keeps the economic benefits within the country but also underscores a deep understanding of the local market, crucial for startups in sectors like fintech and e-commerce.
BSRM Group, a leading steel manufacturer and one of the largest conglomerates of the country, has entrusted their confidence in the impact that Sheba is creating for small merchants and the economy, by becoming the latest investors and joining an elite pool of investors who are adding years of business acumen and experience to the Sheba platform. Startup Bangladesh Limited, a venture capital company wholly owned by The Government of the People’s Republic of Bangladesh investing for the second time in the latest round of funding, showing their faith in the concept of Sheba. It’s noteworthy that Sheba stands as the only company in the region to have raised this level of funding purely from local sources. This not only underscores the faith investors have in the company but also reflects the potential they see in Sheba to revolutionize the economy of Bangladesh.
Sheba’s Role in Bangladesh’s Economy : Empowering SMEs and Impacting Society
At its core, Sheba is dedicated to empowering small and medium-sized enterprises (SMEs), digitizing their operations, and catalyzing their growth. The company’s vision is ambitious yet achievable: to reach 1 million merchants and become a BDT 1000 Cr revenue company by 2028. This ecosystem is not merely a business model; it’s a movement designed to uplift small businesses and drive the Internet economy of Bangladesh forward. Sheba’s growth and expansion are more than a success story in the business world; they represent a significant societal impact. By empowering SMEs and service providers, Sheba plays a pivotal role in Bangladesh’s economic development. The company aligns with the national vision of digital transformation, ensuring that the benefits of technology reach the grassroots level. The journey of Sheba Platform Limited, with its focus on local investment, technological innovation, and societal impact, stands as a testament to the potential of homegrown solutions in addressing local challenges. As Sheba continues to evolve and innovate, it not only symbolizes the maturity of Bangladesh’s tech industry but also marks the country’s readiness for global recognition in the digital age.
Sheba’s Vision: Pioneering the Next-Gen Internet Economy in Bangladesh
Looking ahead, Sheba is set to launch ShebaVerse, transforming Sheba.xyz into a comprehensive aggregator ecosystem. This innovative platform will enhance user transactions with a rewarding system, integrating a spectrum of lifestyle services and creating a seamless, integrated consumer experience.
In a bold stride towards technological innovation, Sheba Platform Limited is gearing up to revolutionize Bangladesh’s digital landscape. The company’s ambitious mission, to build ShebaVerse, is aimed at creating an all-encompassing daily life ecosystem to power the next-generation internet economy of the nation.
Currently reigning as the largest service marketplace, Sheba.xyz is poised for a monumental leap, transitioning into one of the largest fintech applications in Bangladesh. This evolution is not just a change in services offered but a significant shift in how digital finance is perceived and utilized in the country.
