Digital loyalty platform meed has announced plans to enter Bangladesh in partnership with local technology company Digibox, targeting small businesses with a loyalty programme that operates through Apple Wallet and Google Wallet without requiring customers to download an app.

The Singapore-based company, which serves independent cafes, salons, gyms and retailers in markets including Hong Kong, Bangkok and other parts of Southeast Asia, said Bangladesh would be its first market to receive a concentrated expansion strategy rather than being treated as another regional market.

Under the partnership, meed will provide the technology platform while Digibox will handle localisation and merchant acquisition in Bangladesh.

The two companies connected through Accelerating Asia Ventures' Cohort 13, where meed's Founder & CEO, Phil Ingram worked with Digibox co-founders Rezwanul Haque Jami and Morshedul Alam Chaklader and other Bangladeshi entrepreneurs.

Following the programme's demo day, Jami and Chaklader signed Simple Agreements for Future Equity (SAFEs), acquiring stakes in meed.

"Bangladesh has 178 million people and 98.9% of households already own a mobile phone, so the behaviour a loyalty card depends on is there before we arrive," Ingram said.

He said Bangladesh's market size would allow meed to test whether concentrating on a single market could generate stronger network effects for its loyalty platform.

Jami said Digibox was investing in meed as a company rather than solely in its Bangladesh operation, citing the platform's existing use among small businesses in other markets.

"Localisation and getting a product in front of merchants here is the part Digibox brings," he said.

Market assessment by meed cited a number of indicators supporting its Bangladesh expansion, including high mobile-phone ownership and widespread use of mobile financial services.

According to the assessment, 98.9% of Bangladeshi households own a mobile phone, while more than 191 million mobile financial service accounts are active in the country. Smartphone ownership has also increased from 63.3% to 72.4% in less than three years, it said.

The company also cited recent policy measures aimed at supporting startups, including a 0% turnover tax for startups, a 4% cap on startup lending and a dedicated startup fund worth around $41 million.

According to meed, cumulative startup funding in Bangladesh had exceeded $1 billion through 478 funding rounds involving 372 active investors, with two Bangladeshi companies reaching unicorn valuations.

The platform is designed as a digital alternative to traditional paper punch cards. It uses digital stamp cards, QR- and NFC-based enrolment and AI-powered receipt scanning. It also supports businesses operating across multiple locations and franchises, as well as loyalty programmes for events such as food festivals and pop-ups.

The free plan of meed supports up to 50 members, while its Pro plan offers features including customised notifications and analytics on members, locations and campaigns.

The company said meed and Digibox had already started signing up their first businesses in Bangladesh. However, details of local pricing and the business categories to be prioritised have yet to be disclosed.

The ecosystem partners of meed include Google, Amazon Web Services (AWS), the Nvidia Inception Program and Hong Kong Science and Technology Park, according to the company.