Impact of COVID-19 on Fintech: Bangladesh
by Samveet Sahoo, Anshul Saxena, Khandaker Shaoli Hassan and Tohurul Hasan
Jun 21, 2021
1 min
2020 was a nightmare for Bangladesh. Even though the country responded swiftly, early-stage start-ups struggled with a lack of funding during the crisis. This study assesses the impact of COVID-19 on the FinTech ecosystem of Bangladesh. It further explores how the new digital-first policy helped FinTechs cope with the pandemic.
Bangladesh managed to contain COVID-19 swiftly. Consequently, the pandemic barely affected some FinTechs while others, such as e-commerce, online essential item delivery firms, and payment wallets, even thrived because of it. However, early-stage start-ups struggled as they depend heavily on access to banks and investors for funding, which has been scarce during these times.
This report presents the impact of the pandemic on the operations, revenue, and coping strategies of FinTechs in Bangladesh. It also explores the investor sentiment and impact of government policies on the development of FinTechs. The report further provides recommendations for relevant stakeholders to help affected FinTechs recover.
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