BRAC Bank, Delivery Tiger, Dana Fintech to start platform-enabled CMSME e-loans

BRAC Bank Limited has signed a tripartite agreement with Delivery Tiger, a courier service platform, and Dana Fintech, an embedded finance and credit scoring platform, to launch platform-based e-loans for SME businesses in Bangladesh.

This partnership will enable "Platform Based SME Lending" facilities to the cottage, micro, small and medium enterprises (CMSMEs), which will use Delivery Tiger to deliver their products all over Bangladesh.

Besides, BRAC Bank will provide short-term working capital financing to the registered CMSMEs of Delivery Tiger. Dana Fintech will facilitate technological support for digital customer onboarding and designing BRAC Bank’s credit scorecard, said a press release.

Managing Director and CEO of BRAC Bank Selim RF Hussain, Founder and CEO of Delivery Tiger Fahim Mashroor, Co-founder and CEO of Dana Fintech Gazi Yar Mohammed signed the agreement at the bank’s head office recently.

This e-loan aims to provide quick and easy financing to small businesses with customers all over the country. These enterprises will act as an alternative to brick and mortar distribution networks.