Chamak is a smart contract-enabled invoice financing platform that allows Bangladeshi MSMEs to instantly discount receivables, providing immediate cash flow without the need for collateral or lengthy approval processes. By offering flexible payment options and digital receivable collection, Chamak enhances cash flow for suppliers and facilitates access to affordable trade finance for small retailers.
Funding
$10K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Small and medium-sized enterprises (SMEs) in Bangladesh often face challenges in accessing timely and affordable financing due to limited collateral and lengthy approval processes. Traditional trade finance methods can be slow and cumbersome, hindering SMEs' ability to manage cash flow effectively and capitalize on growth opportunities.
Solution
Chamak provides a digital trade finance platform that enables Bangladeshi SMEs to quickly access working capital through invoice financing, factoring, and buy now, pay later (BNPL) services. The platform streamlines the financing process for both suppliers and buyers, offering instant cash access to suppliers by discounting invoices and providing flexible payment options for buyers. By leveraging AI-generated credit scoring and a user-friendly online interface, Chamak aims to break down barriers to financing, enhance cash flow for suppliers, and facilitate affordable trade finance for small retailers. The platform also offers receivable collection services, allowing businesses to digitally and effortlessly collect payments from buyers.
Target Audience
Chamak primarily targets B2B suppliers and small to medium-sized retailers (CMSMEs) in Bangladesh seeking improved cash flow management and access to affordable trade finance solutions.
Features
- Instant invoice discounting for B2B suppliers, providing immediate access to cash flow.
- Buy-Now-Pay-Later (BNPL) options for inventory purchases, improving cash flow management.
- Digital receivable collection services, streamlining payment processes for suppliers.
- AI-generated credit scoring to assess risk and facilitate lending decisions.
- User-friendly online platform accessible via web and mobile apps (Delivery Associate, Sales Associate, B2B Buyers).
- Various financing solutions, including invoice financing, factoring, and bill discounting.
- 100% collateral-free and paperless processes.