Bangladesh-Based Startup AponTech Ltd.Receives USD 490K Investment From Village Capital’s Reducing Inequalities Investment Facility

AponTech Ltd.Secures USD 490K investment to improve access to credit to factory workers

Dhaka, Bangladesh, (April 10, 2024) Village Capital has announced its latest investment in AponTech, a Bangladesh-based startup that is improving the lives of factory workers in the country. The startup enables factory workers to access credit, and discounted household essentials, addressing crucial needs within this vital workforce.

This investment comes from Village Capital's Reducing Inequalities Investment Facility, backed by FMO’s MASSIF Fund, established to support financial inclusion by supporting innovative financial solutions and inclusive businesses.

Founded in 2017, AponTech runs physical marketplaces in factories across Dhaka, Bangladesh, enabling workers to easily purchase discounted essential household items on credit. This solution addresses pressing challenges faced by low-wage factory workers, who, on average, earn around USD 100-120 per month, the lowest among all nations in Asia and the Pacific region, according to the International Labour Organization (ILO) Global Wage Report 2020–21. 

Currently serving approximately 20,000 factory workers monthly, AponTech allows them to advance a portion of their salaries, usually between 30 to 50%, towards purchasing discounted essentials at 0% interest. The startup currently offers these services through physical marketplaces to meet the low digital penetration of factory workers in the country and is developing a digital app to scale its services and support workers in factories that can’t accommodate a physical store. Recognizing the importance of financial inclusion, AponTech is currently developing strategic partnerships with banks and micro-finance institutions to provide financial services such as account opening, access to savings accounts, and digital loans in the future.

"Our journey to this point has been one of passion and perseverance,” says Saif Rashid, Founder of AponTech Ltd. “This investment not only validates our vision but also strengthens our resolve to revolutionize financial inclusion for Bangladesh's industrial workers. We are excited for the next chapter in our story, where technology meets social impact."

“Investing in AponTech aligns perfectly with the mission of the Reducing Inequalities Initiative,” shares Husein Merchant, Investment Officer at Village Capital. “Their commitment to uplifting factory workers’ lives is not only inspiring but also deeply resonates with our mission. We are thrilled to support their growth and contribute to their efforts as they continue to expand their positive impact.”

Bangladesh’s garment manufacturing sector alone hosts more than 4,600 factories and employs over 4.4 million workers, with women comprising 60% of this workforce. However, the country’s manufacturing sector extends far beyond garment production to various industries. This expansive scope reveals the significant impact and potential scale of Apon, positioning the company strategically to address the needs of low-income factory workers across various sectors.

For more information on the Reducing Inequalities Investment Facility and our portfolio companies, contact Husein Merchant at Village Capital (

About Village Capital 

Village Capital is reinventing the system to back the entrepreneurs of the future. Known for its groundbreaking approaches to supporting founders who are building solutions to emergent social, economic, and environmental challenges, VilCap unlocks critical social and financial capital for early-stage companies to maximize business and impact growth.

Village Capital has operated in South and Southeast Asia since 2011 by running over 16 accelerator programs in more than 10 countries in the region, including Bangladesh, Malaysia, India, Indonesia, Sri Lanka, Thailand, and Vietnam. Vilcap has supported more than 190 locally-based startups working in sectors such as civic tech, climate change, financial health, and the future of work. Learn more at and follow @villagecapital. 

About FMO

FMO is the Dutch entrepreneurial development bank. As a leading impact investor, FMO supports sustainable private sector growth in developing countries and emerging markets by investing in ambitious projects and entrepreneurs. FMO believes that a strong private sector leads to economic and social development and has a 50+ year proven track-record in empowering entrepreneurs to make local economies more inclusive, productive, resilient and sustainable. FMO focuses on three sectors that have high development impact: Agribusiness, Food & Water, Energy, and Financial Institutions. With a total committed portfolio of EUR ~13 billion spanning over 85 countries, FMO is one of the larger bilateral private sector development banks globally. For more information: please visit