A mobile-only remittance service for the unbanked migrants in their mother tongue




MyCash Money delivers vital modern financial services including cross-border remittance, online purchasing, mobile top-ups and bill payments to the unbanked migrant worker in their very own mother tongue. Leveraging on our key advantage of not requiring any bank accounts, credit/debit cards, delivering services to the migrant workers without any hassle. It is in this pandemic season that MyCash Money has proven its value to its users by continuing to grow and deliver value to its users. Having implemented our app in Singapore with over 3 million SGD worth in transaction and continue to achieve our 40% month-to-month growth in our digital services. We are currently also on-track to launching our services in the Middle East as we expand into Qatar in January 2021.

We believe that even in this pandemic season, MyCash Money is still an investment that will generate profitable return in the long run.

  • We are the only brand in the Asian financial inclusion industry that is catered to the unbanked and is fully digital. Users gain access the moment the download and learn the app. We have the first mover’s advantage.
  • Our app is the only one developed using the migrant worker’s mother tongue. Compare that to any other app that is in a foreign language or speaking to a person behind the counter who does not know your language, we are the obvious and immediate choice.
  • Because we operate on a B-To-C model in a market where users only interact with potential users within a isolated community, each time we penetrate a new section of the market, our profits multiply exponentially due to simple word of mouth within a community that is isolated in itself.
  • With the current pandemic situation, we predict that our traction will increase tremendously when industry and economy returns to a norm, causing new influx of migrant workers to boost and makeup for economic losses during the pandemic, thus increasing the demand for an app like ours.



At the end of the year 2019, an estimate of 200 million migrant workers sent home 715 billion USD worth of money across the globe. As we enter into an age of digital wallets and e-payments, most of these 200 million migrant workers are still utilizing their monetary values through traditional means. They are often times forced to carry cash when they need to spend, exposing them and their family to unnecessary financial risks and is simply not cost and time effective. Currently, there exists in Malaysia and Singapore approximately 6 million migrant workers who are unbanked, with over 50 million across Asia and the Middle East nations. As they are unbanked and have no access to modern financial services, they are unable to safely save their salaries, efficiently spend time or even safely send money home.



To provide a simple to use, mobile and multi-functional financial service to 50 million unbanked migrant workers in Asia, making mobile cross border remittance, mobile top-up services and online purchasing available to them. Our platform is one that is reliable, secure and have the best interest of the migrant worker in mind. With one simple app designed using mother tongue, they will have convenient means of purchasing products or services, make mobile top-ups securely and quickly transfer money to their family in their home country without the need for long queues or cash-transfer periods.


Language-familiarity, ease of access and time-efficient are some of the advantages of the MyCash Money App. As our app is offered in the user’s native language, it is immediately familiar to our users and allows for quick transition to its functions. And by transitioning onto our digital platform, we help provide them time-saving functions that are completely secure. With our remittance license, we ensure the most important function of sending money home is one that is safe and reliable to our users, paired with additional services for purchasing products and mobile top-up services. All without a need for a local banking account.



Since our founding year 2016, we have been on track and successful in achieving our annual targets and projections, with our first year GMV at 2 million USD and 3 million USD in the following year. We then achieved our breakthrough year in 2018 with a GMV of more than 15 million USD. We achieved 25 million in GMV in the previous year and is now on track to achieve 35 million USD this year.

In the current economic climate that has been severely affected by the pandemic, we have continued to thrive with an exception of marginal declines in the month of February and March when the pandemic struck. From the month of April to June, we have experienced steady increase in all of our revenue streams and project the increase to continue at a steady pace.



Our services are offered directly to our users using the B-To-C model, migrant workers who are predominantly of Bangladeshi heritage. As our app can be easily downloaded on any compatible smartphone, users can easily gain access to all of its services. We do however work with parties and employees to assist in our user’s on-boarding process, helping them understand important features, processes and with familiarization. This process is achieved through social media platforms, dormitory visitations by our teams and also physical locations that act as information centers.



For every remittance transaction that is performed on our platform, a small transaction fee is charged. We have now added transactional fees for mobile top up services as well, charging between 5-8% per transaction depending on the region. Purchases via our platform generate 5% worth of commission per product sold from our supplies. This effectively provides us with multiple revenue streams from a single app platform.



Our primary target market is migrant workers in Malaysia and Singapore, with half a million migrant workers in the Malaysian market and 100000 workers in Singapore. We are also already in the midst of penetrating the market in the Middle Eastern nations which in itself has a population of 5 million migrant workers with our expansion into the Qatar region in January 2021. Followed by the migrant workers community in the European union where there are a million migrant workers currently actively working in.

In terms of market demographics, 70% of our users are predominantly of Bangladeshi heritage, with the remainder 30% being Nepali, Indian and Indonesian heritage.



In the current market place that we stand, we are the sole platform that holds a completely digital service that is available to the unbanked migrant worker. Our competitors hold positions either in traditional over-the-counter banking models, partially digitized or are only available to migrant workers who have access to a local bank account. With that in mind, we are confident that our uniqueness will continue to allow us a firm grip on the market with a leading edge.


Over the years, we have partnered with Banks, Digital Wallet Player, Payment Network Provider. We are also connected to other eWallet provides like bKash & Rocket in Bangladesh, Wings in Cambodia, Easy Paisa in Pakistan, where users can send money almost on a real-time basis from our app.     



We are honored to be funded by a successful ECF campaign of RM500,000 through PitchIN in 2017 and 2019, we received a US$290,245 investment from a leading global early-stage VC Fund, 500Startups. Some investors exited our company with 44.2% return within 2 years.


Mehedi Hasan
Founder / Group CEO

As the CEO and Founder of MyCash Money, most would be surprised by Mehedi’s background, as he seems to have a hand of expertise in multiple industries. With a background in computer sciences and early experience in computer engineering and system developments, Mehedi takes with him a variety of skillsets that came into the spotlight when he founded MyCash Money. His ability to manage and push for success with his teammates in MyCash Money is evident in the success that they have as a whole and the awards that are under his belt.


Looi Yin Lin
Group CFO

Co-founder of MyCash Money and has been more than a key driving force behind our success in both Malaysia and Singapore. Having been personally involved in securing most of our startup awards and funding, her passion and desire to change banking and finances for migrant worker is only bolstered by her vast experience in audit and accounting.


Kenneth Goh
Non-Executive Director (Singapore)

With over 10 years of experience in banking, payment and remittance solutions, Kenneth is the immediate and ideal candidate for our Singapore Director position when we penetrated Asia’s financial hub. With vital experience in the line of compliances, corporate communications, project management and startups, Kenneth knew the industry and the necessary navigation skills needed to secure MyCash Money’s position as a key player for financial inclusion in Singapore.


Mohd Ishak Ahmad
Malaysia CEO

Mohd Ishak Ahmad spent over 18 years in the remittance business. He was the Head of Department at CBL Money Transfer Sdn Bhd, Head of Internal Audit Department at Vaiyou Sdn Bhd and CEO of Jadeline Award Sdn Bhd. Mohd Ishak Ahmad will leverage his expertise and business acumen in the remittance industry to mold MyCash Money into a user-friendly platform that fulfills the needs of our users.


MyCash is an award winner FinTech Startup. We believe in the development of a financial ecosystem for migrant workers. We have been featured in local and international news outlets and have won numerous prestigious awards.

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