Dhaka startups revive after two-year slump, transforming banking and commerce

Dhaka’s startup ecosystem, ranked 155th globally and still the number one tech hub in Bangladesh, has been unusually quiet for roughly two-and-a-half years. The end of the Zero Interest Rate Policy era, a thin local venture capital landscape and structural policy gaps have dried up the flow of easy money that once fuelled a wave of new companies. Yet beneath the surface, the startups that survive, bKash, Pathao, Chaldal, ShopUp, are quietly changing how ordinary residents handle money, buy groceries and get around.

Everyday fintech and the ride that sticks

The most visible shift is in payments. bKash, the mobile financial service that began as a way to send remittances, now works at street-side tea stalls, in the back of rickshaws, and at the counters of thousands of small shops across the capital. A young population, 60 percent under the age of 35, has pushed digital payments into daily transactions. Where cash once ruled, QR-code payments and mobile transfers have become routine for urban commuters buying train tickets or paying for a ride on Pathao’s motorbike service.

The mobility sector is perhaps the most tangible example of how tech changes a street-level experience. Pathoa and other ride-hailing apps have filled gaps left by an overloaded public transport system. Residents in areas like Gulshan and Banani now routinely book a bike or car through an app rather than haggling with a CNG driver. The convenience has become so embedded that even during the funding drought, ride-hailing usage did not collapse, users stuck with the platforms even as the startups themselves faced capital constraints.

Agritech and the grocery run

Grocery delivery startup Chaldal has altered the weekly shopping routine for thousands of Dhaka households. What began as a website for ordering rice and lentils now operates a network of warehouses and last-mile delivery riders who navigate narrow Old Dhaka lanes and the traffic of Mirpur Road alike. The company is part of a broader push into logistics and agritech, sectors that analysts at Future Startup and the Daily Star have identified as key growth areas despite the macro headwinds. For residents, the effect is simple: fresh vegetables, meat and packaged goods show up at the door without a trip to the bazaar.

The government’s “Smart Bangladesh 2041” initiative has provided some structural support, encouraging digital infrastructure improvements that help startups reach customers more cheaply. Digital payment interoperability, for instance, has made it easier for small merchants to accept mobile payments without needing a bank account. The policy framework, though still incomplete, has given entrepreneurs enough runway to keep operating while the broader funding environment remains cold.

What comes next

Projections from ecosystem analysts suggest Dhaka could host more than 8,000 startups by 2035, positioning it as a regional hub for micro brands and digital commerce. That forecast assumes two things: that venture capital eventually returns to Bangladesh, and that the government follows through on its stated plans to support early-stage companies. Neither is guaranteed. For now, the ecosystem is in a holding pattern, fewer new companies are being formed, but the ones that exist are getting leaner and more focused on actual revenue rather than growth at any cost.

For a resident of Dhaka, the effects are already here: a ride booked in seconds, groceries delivered before dinner, a utility bill paid from a phone. The next wave, more healthtech apps, broader fintech inclusion, and deeper logistics networks, will depend on whether the city can turn its young, tech-savvy workforce into the foundation for sustainable companies, not just a bright spot on a global ranking.