Japan’s SoftBank acquires 20% of bKash, valuating it at USD 2 billion.

Japanese giant SoftBank impressively enters Bangladesh market by acquiring 20% of the country’s largest Mobile Financial Service (MFS) provider bKash, who controls over 80% of the market.

SoftBank conglomerate with USD 57 billion revenue in 2020, assets of USD 342 billion, and a fund of USD 100 billion which was used for the operation, puts again the spotlight on Bangladesh startups and IT sector in general.

SoftBank most successful investment was in 2000 when they bought 25% of Alibaba for USD 20 million. Today SoftBank shares of Alibaba are worth around USD 143 billion.

It is not the only known foreign shareholder of bKash, as IFC, the World Bank’s private-sector investment arm, came on board as an investor in 2013. IFC was followed by the Gates Foundation in 2014. Finally, Ant Group (China based operator of “Alipay”) joined as an investor in 2018.

Almost simultaneously, MoneyGram signed an agreement to integrate its wallet network with bKash.

https://www.dhakatribune.com/business/2021/11/11/softbank-acquires-stake-in-bkash

https://www.tbsnews.net/economy/banking/japans-softbank-aquire-20pc-stake-bkash-328096

https://thecapitalquest.com/2021/11/15/softbank-bets-on-bangladesh-mobile-payments-firm-bkash/

https://www.investopedia.com/articles/investing/111114/top-five-alibaba-shareholders.asp

https://thefinancialexpress.com.bd/views/bkash-alipay-strategic-partnership-an-inspiration-to-start-up-businesses-1525618794

https://www.asiamoney.com/article/b1l316z6yk1905/fintech-bkash-turbocharges-bangladeshs-development

https://www.reuters.com/article/uk-ant-group-ipo-strategy-international-idUKKBN27E07I

http://www.elpasoinc.com/news/state/moneygram-expands-mobile-wallet-network-in-asia-through-integration-with-bkash-in-bangladesh/article_12f62b9f-5123-5413-b73e-0f09fd6f18fc.html