SME Foundation teams up with TallyKhata to digitize small businesses

By July 26, 2022 No Comments

Small businesses in Bangladesh will get free training on digital bookkeeping and financial services using TallyKhata. 

SME Foundation (SMEF) has signed a collaboration agreement with TallyKhata in an auspicious ceremony at the foundation head office on Tuesday. Dr. Md. Mofizur Rahman, Managing Director of SME Foundation, and Dr. Shahadat Khan, founder and CEO of TallyKhata signed the agreement in presence of chief guest Prof. Dr. Masudur Rahman, Chairman of SME Foundation. SME Foundation Deputy Managing Director Salahuddin Mahmud, General Manager Md. Nazim Hasan Sattar, Assistant General Manager Md. Masum Billah, and TallyKhata Head of Growth and Marketing Awlad Hossain, Head of Digital Credit Shafiqul Islam were also present.

SMEF Chairman Dr. Masudur Rahman said, “There are more than 11 million msMEs in Bangladesh with a 25% contribution to national GDP. We want them to learn and get full benefit from digital bookkeeping and financial services, and we are collaborating with TallyKhata on this.”

SMEF Managing Director Dr. Md. Mofizur Rahman said, “When small businesses use apps and software for keeping business records, it gives them better visibility and control of their businesses. They also build business profiles and transaction history over time which will help them get access to suitable credit facilities to fuel growth.”

Launched during the pandemic period in 2020, TallyKhata is the largest digital msME platform in Bangladesh with more than 4 million registered businesses and a million transactions recorded each day. It provides an intuitive app helping small businesses to maintain transaction ledger, and accept digital payment using TallyPay electronic wallet licensed by Bangladesh Bank.

TallyKhata CEO Dr. Shahadat Khan said, “TallyKhata offers an easy-to-use Bangla app to record business transactions using a simple pelam-dilam interface. We are very excited to collaborate with the SME Foundation, and the opportunity to work with millions of small businesses around the country and impact their businesses and livelihoods.” 

TallyKhata was recently selected winner in the Visa APAC accelerator program 2022 fintech cohort along with 4 others from New Zealand, Japan, Singapore and India. TallyKhata is the first Bangladeshi fintech to be selected in this prestigious cohort.