8 months ago

Bangladeshi fintech startup Drutoloan raises USD 1,25,000 in pre-seed round

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Druto Fintech Limited, a rising fintech startup, has successfully raised USD 1,25,000 in a pre-seed funding round. This financial injection comes after four and a half years of bootstrapping, during which Drutoloan maintained a positive cash flow. 

The investment, sourced from both local and foreign investors, including notable names like Ridwan Hafiz and Razy Shah, along with two other investors from Singapore., positions Druto Fintech Limited for an ambitious expansion to empower and streamline financial access for underserved MSMEs across the country.

Druto is a financial platform designed to bridge the gap estimated to be USD 2.8 Billion between unserved and underserved Micro, Small, and Medium Enterprises (MSMEs) and traditional financial institutions. The platform offers a comprehensive suite of services to make the lending process more accessible, efficient, and transparent for both MSMEs and financial institutions.

Druto Fintech has facilitated over 3000 loans with a total loan disbursement of over BDT 20 crore and a savings deposit of more than BDT 10 crore, attaining an unrivalled 0% default record.

Added to that, strategic alliances with major players such as Lanka Bangla Finance Limited, Chaya, and Inkam strengthen Druto Fintech's position as a significant player in transforming Bangladesh's financial environment.

Drutoloan ensures lending services for MSME entrepreneurs without needing multiple visits to financial institutions. From loan application to repayment, Drutoloan facilitates the entire process within the confines of the MSMEs' business infrastructure, saving valuable time and resources.

The company aims to establish 1000 SME centres strategically located in areas where MSME entrepreneurs are most underserved in the next few years. This expansion will democratise access to business loans and contribute to the economic development of regions that traditionally lacked robust financial inclusion.

As the fintech sector continues to gain momentum, Druto Fintech Limited aims to shape a more inclusive and tech-driven financial ecosystem in the country. 

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