We built the platform we wished existed when we sold our first business in Dhaka.
Founder note
প্রতিষ্ঠাতার চিঠি
In 2018, I sold a small commerce business out of Dhaka. The buyer was a stranger from a WhatsApp introduction, the price was scratched on a napkin in a Gulshan 2 café, and the share transfer paperwork was filed at RJSC by a cousin who knew a lawyer. Nothing about that process resembled the M&A I had read about in textbooks. It closed — but it could just as easily have unravelled at any point, and I would have had no platform, no trail, and no recourse.
Over the next six years, building 31+ products across KaritKarma Limited and LoneSock Consultancy, I kept meeting founders in the same shape. People with viable businesses, exhausted by a process that had no infrastructure under it. Tracxn records 33 lifetime acquisitions in Bangladesh2. That number is not a market signal. It is a measure of the trust gap — the number of times a deal closed despite the system, not because of it.
Exit.bd is the answer that took us three years to earn the right to build. We shipped Wenme, Darwan, Hold.bd and BitsPath first, because identity, authorisation, escrow and comms are infrastructure, not features. The marketplace is the thinnest layer on top — closed, match-driven, BDT-native, and accountable to the Companies Act 1994 from the first click to the last Form 117 lodged with RJSC.
This is infrastructure work, not hustle work. Bangladesh deserves both.
নির্ঝর / Lutfar Rahman
Managing Director & CEO · KaritKarma Limited & LoneSock Consultancy · April 2026
Operating system · KaritKarma Limitedঅপারেটিং সিস্টেম
Five products. One thesis: infrastructure compounds.
WENME
Passwordless identity for the KaritKarma group. OAuth 2.1 with PKCE, Ed25519-signed JWTs, and a single sign-in surface across every product. Exit.bd never holds a password — there is none to leak.
DARWAN
Cloud authorisation — RBAC layered over ABAC, externalised from each application. Every permission decision on Exit.bd, from teaser unlock to escrow release, is logged through a Darwan /v1/authorize call.
HOLD.BD
Bank-backed escrow operated in partnership with Prime Bank PLC. Funds are held in BDT, released against milestone — Form 117 stamped, board resolution passed, share certificate endorsed1.
BITSPATH
Omnichannel communications — transactional email, SMS, WhatsApp and push from one API. Match alerts, NDA reminders and escrow milestone notices on Exit.bd flow through it.
EXIT.BD
The closed, match-driven marketplace for Bangladeshi acquisitions. Sits on top of the four rails above — which is why the team can focus on the deal, not on rebuilding identity, authorisation, escrow and comms for the fifth time.
Operating principles
পরিচালন নীতি
Closed by default
Public listing boards work in mature M&A ecosystems. Bangladesh recorded 33 lifetime acquisitions on Tracxn — that is a market that rewards curation, not a catalogue. Every Exit.bd participant is vetted before they see a teaser, and the marketplace is unindexed from the open web.
Cited or omitted
Companies Act 1994 §38, Bangladesh Bank FE Circular 26/2014, BSEC public-issue rules, NBR stamp duty schedule — if a regulation governs a step inside Exit.bd, we cite it on the page. We will not ship marketing claims we cannot back to a Bangladeshi statute, gazette notification, or regulator circular.
Bangladesh first, region next
The platform is BDT-native, RJSC-aware and built around the operating reality of Gulshan, Banani, Tejgaon and Motijheel founders. South Asia expansion sits on a 24-month roadmap behind Bangladesh — not in parallel. We are not retrofitting an Acquire.com clone for a market that does not behave like California.
Slow infrastructure, fast trust
Identity, authorisation, escrow and comms took three years to build before Exit.bd shipped a single listing. That is the trade — infrastructure compounds, hustle does not. The cycle time on a real deal is the only metric we optimise for, and the only one we publish.
The road, 2024 → 2026
পথচলা
Built deliberately, in order. Never in parallel.
2024
KaritKarma Limited incorporated in Dhaka under the Companies Act 1994. Initial mandate — build the trust infrastructure layer that Bangladeshi internet commerce never had: identity, authorisation, escrow, comms.
2024 · Q4
Wenme launched as the group’s passwordless identity surface. OAuth 2.1 + PKCE flow goes live across the first KaritKarma properties. Single sign-in, no password storage, signed JWTs.
2025 · Q1
Darwan launched — cloud RBAC + ABAC, externalised from every app. Permission decisions move out of code and into auditable policy. BitsPath ships in parallel as the comms rail.
2025 · Q3
Hold.bd announces partnership with Prime Bank PLC for BDT escrow. Funds held in a regulated scheduled-bank account, released against milestone, with an audit trail tied to the deal room.
2026 · Q1
Exit.bd opens to a private preview. The first cohort of vetted sellers — pharma, garments, F&B, SaaS — list confidentially. Match-driven discovery replaces a public catalogue.
2026 · Q2
Exit.bd public launch — closed marketplace, Hold.bd escrow, Companies Act-compliant share-transfer workflow, and the cross-border buyer track behind Bangladesh Bank FE Circular 26 approval.
We are not in a hurry. We are building the rails the next hundred Bangladeshi exits will run on.
Sources
- 01Companies Act 1994, §38 — share transfer requires Form 117 lodged with the Registrar of Joint Stock Companies and Firms (RJSC). Exit.bd templates surface this inside the deal room.
- 02Tracxn, Bangladesh Acquisitions database, accessed April 2026 — 33 lifetime acquisitions recorded in country.
- 03Bangladesh Bank, Foreign Exchange Regulation Act 1947, Guidelines for Foreign Exchange Transactions, FE Circular 26/2014 — prior approval required where foreign control of a Bangladeshi entity changes hands.
- 04Bangladesh Securities and Exchange Commission (BSEC), Public Issue Rules 2015 — disclosure obligations triggered where a transaction involves a public-listed issuer.
- 05National Board of Revenue (NBR), Stamp Act 1899 (as amended) — share transfer instruments attract stamp duty under the prevailing schedule.