Portfolio Spotlight: Hishabee

Fundraising News

Startup: Hishabee

Vertical: Enterprise Software

Market: Bangladesh

SDG: 8 & 9

Female Founded: No

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Hishabee is a fullstack business solution that helps over 100,000 Bangladeshi small businesses save time and increase their revenue by selling online, and everything else they need to run efficiently.

What problem does Hishabee solve?

So small businesses use pen and paper to keep track of their accounts as well as they only have one sales channel that's only people whose walking into their stores, and as these businesses don't have proper ways to keep records of their bookkeeping, they're unbankable, so they don't get access to loans or credit. So we come in with Hishabee to find digitized solutions so that they can keep track of their inventory in their accounts and help them sell online with our online sales channels. And finally, we make sure that they're bankable so that they can get further loans and insurance from banks and other parties. 

What products does Hishabee offer? 

So Hishabee at its core is a point-of-sale system that's integrated with inventory and bookkeeping; we offer a marketplace of plugins with 17 plugins that users can enable and disable as per their requirements. These plugins allow them to build an online store in a minute, and get access to insurance, finance, and marketing resources. 

What countries do you currently operate in? What is your market reach?

We are only operational in Bangladesh. For now, we have over 100,000 businesses, and from there, we're able to generate around $80,000 of Annual Recurring Revenue. 

What is the current market for Hishabee and what is the market potential?

The market is huge; when we look into the retail aspect, there are 5 million businesses. But then, these retail aspects are being served by distributors and wholesalers. There are a couple million more, plus service providers like laundries and salons–everybody; the small market segments combined, there are around 10 million businesses that have the potential to use our product.

What is Hishabee’s revenue/business model? 

Hishabee is a SaaS product with a primary subscription-based business model, and we have an aftersales service to increase the customer lifetime value of our product.

What is Hishabee’s current traction to date?

We have over 100,000 businesses registered on our platform. We are currently doing $80,000 of annual recurring revenue and that's doing 30%, month-on-month revenue and we have positive unit economics. Our customer lifetime value is almost four times our acquisition cost, so it's looking good.

Where can our audience learn more about Hishabee?

You can visit our website at https://hishabee.business/ or email us at hello@hishabee.io. We do have an Android app and a web app and we're currently building an Apple app.

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