‘Evaly's biggest mistake was to develop business with customers’ money'

Evaly's cofounder Shamima Nasrin today said the biggest mistake the company made was developing the business with the customers and merchants' money instead of raising fund from outside.

"Our biggest mistake was not raising investment at the right time and building the business with the dues of customers and sellers."

"But everyone must understand that there was no deception here. You pay an advance amount to build a house. if the developer doesn't give you that house on time then it is unfair. But it is not correct to call this business unfair," she said.

"Our business plan was to pay off initial liabilities with future profits. We think we had a flaw in this plan. In this journey, we will be selling products at a profit from day one."

She spoke at a digital press conference organised by Evaly.

The press briefing was organised half a month after the resignation of the high-court appointed five-member board of the Evaly.

They resigned after turning in an audit report to the court as well as their resignations and their own report on the company on September 21 this year.