Chamac Ltd

Chamac Ltd is a small, active company based in London, UK, founded four years ago in December 2020. It’s a solo-founded operation with two directors and one owner, operating from a virtual address where 6850 other companies are also registered. The company holds just £6,933 in assets and is involved in retail sales via mail order and the internet.

The company's website, Chamac, positions itself as Bangladesh's first digital trade finance platform. It offers inventory funding, receivable sales, lending-as-a-service (LaaS), and credit scoring solutions. The platform aims to empower small and medium enterprises (CMSMEs) and B2B suppliers in Bangladesh by providing instant cash access, user-friendly digital platforms, and various financing options like invoice financing and buy-now-pay-later (BNPL) services. The company boasts 16,500 shops in coverage and serves 164 districts, with a network of 32 suppliers. It even has its own apps for delivery associates, sales associates, and B2B buyers.

Financially, Chamac Ltd presents a concerning picture. Current assets have decreased by 26% to £6,900, while net assets have plummeted 760% to a negative £2,600. Equity is also significantly down, with retained earnings and accumulated losses showing a substantial loss. Bank borrowings haven't been mentioned, but creditors have increased by 6.6% to £9,600. Cash on hand, however, has jumped a staggering 11,000% to £1,400. The company’s small size (meeting two of three conditions for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) helps it stay nimble, but the dramatic equity decline and negative net assets raise serious questions about its financial health. The accounts are unaudited, likely due to the company’s small size, and rely on director-reported data.

It's clear that while Chamac’s digital platform shows promise and aims to revolutionize trade finance in Bangladesh, the company is currently struggling to manage its finances. Whether it can overcome these challenges and achieve sustainable growth remains to be seen—but for now, it’s facing a difficult period.

Registered in England/Wales under the registration number 13060500, with a registered address at WC2H 9JQ, United Kingdom, London, Greater London, 71-75 Shelton Street.

WARNING:The numbers have been rounded for simplicity and may be inaccurate.Please, refer to the latest financial report for verification.