ROMONI BECOMES WINNER FOR BEST SOCIAL INNOVATION

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Romoni was the winner of the Bangladesh Business Innovation Award (BBIA) 2019 under the “Best Social Innovation” category.

Romoni.com.bd is a beauty a lifestyle platform for urban and semi urban women and a business incubation platform for female micro entrepreneurs. Romoni has created a platform where any woman with any kind of creative skills can start and grow their businesses right away. Having served more than 11,000 customers in Dhaka and Chittagong in the last one and half years, Romoni has empowered more than 500 women entrepreneurs in the beauty and tailoring industries by not only giving them access to a wider base of customers and tripling their income, but also by giving them access to growth financing, training and access to quality products.

The quality of the professionals who are verified on the platform is checked with the utmost priority. The professionals need to have at least 3 years of work experience, pass through a stringent assessment test, have their products checked and approved, and take a basic salon brush up training course from Romoni trainers to be verified on the platform. In addition, the professionals are required to buy their salon product supplies from the platform itself to ensure the quality of the products.

After a few months of generating business for the entrepreneurs in the beauty at home space, the service providers started asking for small growth capitals to expand their teams, buy better products and invest in training. That led to the piloting of Romoni’s FinTech product with a grant funding from UNCDF. The engine will do credit facilitation of the small loans by giving banks and financial institutions access to the transaction and sales data of the entrepreneurs on the platform, which in turn will help them with generating credit rating of the businesses which were otherwise left unbanked.

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