Idea

The idea of Munafa is to allow all the user to use this platform from all over Bangladesh. Small business  are the main customer for our platform. This is a free platform for all the small business. After getting a strong customer base Munafa will introduce subscription model but still then it will earn revenue by Advertisement. 

We have targeted seven million small business in Bangladesh and we will capture 30% of the market within three years. If we can get at least 500K user we will introduce subscription fee of USD 30 for one year.

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Challenge

1. Munafa is in pre seed stage and require funding for completing this stage.
2. Munafa need to invest for marketing, hire staff and offices.
3. Munafa need to add AI driven feature which needs time to complete.
4. Munafa needs to make liaison with Bank and NBFI so that our AI can suggest suitable banking  product.
5. Munafa needs to expand their operation to compete with their competitors.
6. Munafa needs to hire more cofounder.
7. Munafa needs to advertise more on social media. 

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Solution

1. Munafa will solve the problem of using costly software by allowing their user to use it free of cost. 
2. Munafa will allow to issue free invoices which will be helpful for F- commerce, pharmacy ,hotelrestaurant and small shops.
3. Munafa will add the function of using pos system which will allow their user to take payment from debit or credit card without using any pos machine. 
4. Munafa will include AI driven feature for forecasting cash flow for next three month which will help small business to take preparation so that they can prevent losses.

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Story

One day I ( Luthfe Rabbi) was going through an article where there was a write up about the small business in Bangladesh. I have learned that seven million small business in Bangladesh are not digitized . They cant effort any software to keep track of their daily transaction .Due to the lack of this digital facility they incur losses which impacts negative in the country economy .After getting those information I started research on fin-tech market and prospect in Bangladesh as well as in other countries. I have found that if I can get only 5% market share 3,50,000 small business will use my platform. Moreover there is no application in Bangladesh who provide free invoicing which is very important for small business as well as face-book page owners. There are 3,00,000 face-book page owners in Bangladesh who cant have access to free invoicing without using costly software.  I have planned to make this platform free for those small business to get strong customer base and calculated 500000 small business will visit my site ten times a day which will bring a handsome amount of advertisement revenue.  Then I have consulted with one of my Friend who have coded the application on my design and with his help I made a prototype for testing. I also met some financial management specialist and designer who made this journey possible.  This story is continuing and will not have any end as I am working to make this expandable in other countries after completing seed round.