Munafa joins FasterCapital LaunchUp Program to accelerate digital transformation for Bangladesh’s small businesses

Munafa, a Bangladesh-based fintech startup, and FasterCapital announced a strategic partnership through the LaunchUp accelerator program in June this year, according to a press release.

The partnership aims to empower 7 million small businesses across Bangladesh by providing a free, AI-powered digital platform that offers invoicing, payment processing, and cash flow forecasting tools. It will also accelerate Munafa’s product development, market entry, and scale, with plans to expand across emerging markets.

Bangladesh is home to an estimated seven million small businesses, many of which lack access to affordable digital tools that streamline financial management and sales. Traditional software solutions are often costly, preventing small business owners and Facebook page merchants from tracking transactions or issuing invoices efficiently.

This gap results in lost revenue and limits growth potential, highlighting a significant market inefficiency. Munafa enters a competitive fintech landscape, addressing a critical white space by offering zero-cost digital solutions tailored for this underserved segment.

Munafa’s platform delivers an innovative, no-cost SaaS solution specifically designed for Bangladesh’s small business ecosystem. Key features include free invoice issuance, POS-like payment acceptance without hardware, and AI-driven cash flow forecasting for the next three months—enabling smarter financial planning.

With a pre-seed prototype already tested, Munafa targets acquiring 500,000 users within three years, aiming to monetize via advertising initially and later through subscription fees at $30/year. By eliminating cost barriers and integrating advanced AI, Munafa positions itself uniquely among local fintech providers.

Joining the LaunchUp program offers Munafa access to FasterCapital’s global startup ecosystem, technical mentorship, and capital-raising expertise. FasterCapital’s rigorous selection process validates Munafa’s market potential and business model.

The program will facilitate accelerated platform development, marketing strategy execution, and strategic partnerships with banks and non-banking financial institutions (NBFIs). This collaboration is expected to significantly shorten Munafa’s time to market leadership and increase investor confidence during the upcoming funding rounds.

Luthfe Rabbi Alam, Founder and CEO of Munafa, said, “Partnering with FasterCapital is a milestone that will propel Munafa’s vision to digitize Bangladesh’s vast small business sector. Their support is invaluable—not just for funding but for strategic guidance and connections—that will help us build a scalable, impactful platform. We are committed to empowering millions of entrepreneurs with tools that remove financial barriers and drive sustainable growth.”

Hesham Zreik, CEO of FasterCapital, said, “Munafa’s mission to offer free, AI-driven financial tools to small businesses addresses a massive, underserved market. Their innovative approach aligns perfectly with FasterCapital’s goal to foster tech startups that solve real-world problems. We look forward to helping Munafa scale rapidly and bring digital empowerment to millions across Bangladesh and beyond.”

In the next 12 months, Munafa plans to complete its AI feature integration, expand its team with co-founders and technical talent, and formalize banking partnerships to enhance financial product recommendations.

The startup aims to onboard at least 500,000 small businesses by 2028, capturing 30 per cent of Bangladesh’s market. Fundraising efforts for $600,000 pre-seed capital are underway to fuel marketing, operational scaling, and product enhancement. Long-term ambitions include regional expansion into South Asia’s emerging fintech markets.