Local SaaS solutions or Bangladeshi companies developing SaaS for global users are not common in Bangladesh. Until now, the country did not have the infrastructure — payment, tech, cultural imperatives — to support SaaS companies. This reality, however, is changing slowly. Although the infrastructure is no better today, it has improved in the past few years. Recurring payments are possible now. Cultural awareness has happened — thanks to the international tech subscription products and services such from Bloomberg to Netflix.
While the local market remains a challenging terrain for SaaS companies and will take a few more years to fully bloom, a new trend is emerging — a small but growing number of Bangladeshi founders are now building for international customers. Instead of domestic markets, they are eyeing the international markets. This development is further aided by a fast-developing trend where local tech companies are establishing international entities in Singapore and the US for various regulatory and fundraising reasons.
Services like Stripe Atlas, Estonian e-passport, and easy access to Singapore have made it easier and relatively inexpensive to establish international entities for local companies.
Having an international entity offers many benefits including allowing companies to offer simpler solutions to international users, better integration for accepting international payments using solutions like Stripe and PayPal among others.
Aided by these two forces coupled with a new batch of ambitious founders, we are seeing a small number of SaaS startups offering services to both local and international users.
Some of these companies such as Dorik are part of a fast-growing global meta trend namely low-code, no-code software enabling anyone and everyone to build websites as digitization accelerates across the world.
Others are building solutions for ecommerce and businesses as they move online such as Alice Labs.