Once College Drop Out, US Visa-Rejected, Now Country’s Most Successful IT Entrepreneur Creating Cashless Nepal


When Biswas Dhakal founded software company in 2004 he probably never even thought it will be so big. But today,his FinTech (Financial Tehcnical) company, F1Soft is the highest tax paying IT company in Nepal. F1Soft’s product eSewa,  a leading mobile payment system is used by more than 40 major banks and financial institutions in Nepal. Dhakal was also awarded by ‘Manager Of The Year 2017’ by Management Association of Nepal. There are many such achievements of this serial entrepreneur.

Man who dreamt cashless Nepal (Photo: F1Soft webstie)

 

However it was not always smooth ride for tech-savvy Dhakal, born and raised in plains of Janakpur. He once quit college as the subject was not interesting enough for him. He dropped out from Kantipur Engineering College (majoring in hardware) because he wanted to study software and he thought USA will be the best option for him. Unfortunately, his dream remained just dream as his student visa was rejected. Good thing is  he came back stronger, enrolled again this time in software engineering at Nepal College of Information Technology. While as student he founded a company in 2004, started working on domain hosting and building websites. By then he already dreamt of cashless Nepal, similar idea of paypal but in mobile banking.

At present, his company employs almost 1000 people and provides internet banking, remittance and mobile banking. Undoubtedly it’s the leading service provider in Nepal’s fintech sector which occupies 90% of country’s fintech market. There are over 7 million users in digital payment and everyday 600,000 mobile payments are done through f1Soft. Among all eSewa being the most successful product, f1 also has other services such as BankSmart, PhoneBank, ViberBanking, BankEx.

 

US visa rejected student in 2002 was invited by the US Department of Sates in 2016 to represent Nepal in ‘Global Entrepreneurship Summit’.

 

 

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