Bangladeshi startups earn spot on Forbes Asia list

Bangladeshi startups Pathao and Shomvob have been named in the prestigious Forbes Asia "100 to Watch" list for 2025, marking a significant recognition for the country's burgeoning technology ecosystem on the regional stage.

This year's list includes companies from 16 countries and territories, with India leading with 18 entries, followed by Singapore and Japan with 14 each. Bangladesh's representation, though modest, signals its gradual ascent in the regional startup landscape.

Pathao is a multi-service platform offering ride-hailing, food delivery, logistics, e-commerce, and fintech solutions.

"The company says its app has been downloaded more than 6 million times and it has fulfilled more than 70 million trips and orders across Bangladesh and Nepal," according to Forbes.

Founded in 2015, Pathao was listed under the Consumer Technology category. Pathao raised $12 million in a pre-series B round last year led by VentureSouq, taking its total funding past $50 million. The fresh investment is aimed at expanding its fintech arm, including Pathao Pay, a digital wallet, and Pay Later, said Forbes.

"Pathao's inclusion in the Forbes Asia 100 to Watch is a recognition of our enduring commitment to building products that our customers  love and are happy to pay for," Fahim Ahmed, CEO of Pathao, told The Daily Star.

Shomvob, a newer entrant founded in 2022 and headed by CEO Rifad Hossain, focuses on democratising employment opportunities in Bangladesh.

"Shomvob is helping Bangladeshis find jobs that match their skills and goals. Through its platform, job seekers can create digital profiles to apply for roles or participate in online training programs," said Forbes.

Companies can use Shomvob to review candidates, outsource recruitment, and manage payrolls. Initially focused on finding work for low-income women, Shomvob received a Gates Foundation grant of $3,00,000 in 2023. Last May, it raised $1 million in pre-seed funding led by Singapore-based VC firm Cocoon Capital.

Forbes Asia's selection process involved rigorous evaluation based on factors such as industry impact, innovation, business model, revenue growth, and funding attractiveness. Companies were required to be headquartered in the Asia-Pacific region, privately owned, and have no more than $50 million in annual revenue or $100 million in total funding as of August 15, 2025.