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The Financial Express
Swasti Lankabangla Swasti Lankabangla

BD's largest digital services platform in the offing

Pathao, Surecash in talks to merge

| Updated: December 19, 2019 11:03:46


Pathao, Surecash in talks to merge

 Pathao, the market leader in ride-sharing, food-delivery and e-commerce logistics, and SureCash, the leading digital payments provider, are reported to be in advanced merger discussions to create the largest digital services platform in Bangladesh.

This deal will constitute the biggest merger in Bangladesh’s technology sector, and will bring together two of the strongest technology teams in the country.

 

Pathao is the most recognizable consumer technology brand in the country, with over 5 million registered users, over 200,000 drivers and over 10,000 restaurants and merchants.  Surecash’s extensive payment infrastructure, currently reaches over 20 million customers through about 200,000 retail agents and over 1,000 payment partners.

 

The proposed merger will combine SureCash’s fintech expertise and nationwide reach with Pathao’s consumer product excellence and logistics to service consumers’ everyday needs.

 

Both companies have attracted significant foreign direct investment (FDI) from investors in Japan, US, Europe, Hong Kong and Southeast Asia. These include leading venture capital and private equity firms, regional ride-hailing giant GO-JEK, and some of Asia’s most reputed financial institutions.

 

SureCash and Pathao representatives declined to comment when reached for this report.

-rmc//

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