Portfolio Spotlight: Dana Money

Startup Spotlights

Startup: Dana.Money

Vertical: Fintech

Market: Bangladesh

Currently fundraising: $1,000,000, Seed Round

Impact: Addressing United Nations Sustainable Development Goal

  • 8: Decent work and economic activity
  • 9: Industry innovation and infrastructure

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  • Team: A team with the right mix of skills, experience and networks to turn their mission and vision into reality.

  • Business model & Product: A path to profitability, growth and a business model that plugs a significant market gap in emerging markets in B2B fintech to deliver credit scoring systems to unbanked populations.
  • Traction: Dana has early traction and market adoption, it has raised $200k and already has partnerships with iFarmer, AkjerDeal and CVC Finance.
  • Growing technology adoption by consumers, business owners and banks in Bangladesh which is poised for growth in 2021 and beyond.


In Bangladesh only 50% of the population has access to banking facilities while 9 out 10 people are credit invisible leading to a lack of financial access for the unbanked. The lack of access to banking makes it hard for SMEs to get loans to grow businesses and earn an income.

With over 120 million internet users, a growing mobile payments market worth over $90B dollars, the addressable market size and identified problem is an exciting market opportunity. Dana who are primed to be a first mover in the B2B fintech space in Bangladesh.

In addition to the ability to assess the creditworthiness of the unbanked, there is also the added layer of risk for banks and financial lending institutions as there is a perceived risk of default, that’s where Dana comes in.


Dana offers a unique credit scoring engine and API platform that enables financial institutions to offer digital loans and buy now, pay later facilities to underbanked SMEs and individuals.

Its unique scoring engine enables banks and lenders to give anyone - banked or unbanked - a credit score based on device data, partner data, API data, psychometric tests and demographic information using their internal algorithm to create a proprietary credit score called Dana Score.

In a country where banking is severely under penetrated and it is not worthwhile for banks to undertake extensive credit scoring, Dana is filling a market gap.


The team behind Dana have a cumulative 28 years worth of experience in the banking industry, having worked at across credit risk, retail banking, bank operations and more with Standard Chartered and ONE Bank..

At Accelerating Asia, we find founders who have previous experience in the industry tend to be able to find market gaps and grow a startup fast. The rich industry work experience gives these founders the necessary skills to succeed and also helps them leverage relationships they’ve built over the years. In Dana. Accelerating Asia found the right mix of skills, experience and grit that an early-stage startup needs to scale in an emerging market like Bangladesh.


At the core of what we do is our guiding belief that entrepreneurs are one of humanity’s greatest catalysts for positive change. Our VC investments and approach reflects our guiding belief, we invest in commercially viable startups that have a path to profit and are addressing at least one Sustainable Development Goal.

Our investment into Dana reflects this approach by delivering impact in:


Dana’s alternative credit score driven credit engine helps underbanked SMEs, women, farmers and gig workers to get quick access to finance and capital through a digital lending process to enhance their economic activity and financial wellness.

  • Target 8.2 Diversify, innovate and upgrade for economic productivity


Dana is an AI-driven scoring engine and digital credit platform for lenders, Dana’s aims to create a positive impact on the through partnerships and innovative adoption of technology in a traditional industry.

  • Target 9.3 Increase access to financial services and markets

Accelerating Asia VC Fund II invested into Dana.Money which was selected for Cohort 5 of our flagship 100 day program. During our last recruitment round Accelerating Asia received 550 applications from 30 countries and we have with 2000+ startups per year.

To invest in startups like Dana alongside us and learn more about our portfolio, reach out and tell us a little bit about yourself here.

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Accelerating Asia invests in startups with scalable technology solutions and revenue generating business models that combine purpose with profit.


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