What if investor funding only flowed when clean water actually reached a tap?

Since 2022, Max TapWater has been building water networks that communities in rural Bangladesh pay for, depend on, and run themselves. Four years in: more than 100 water grids operational, 21,000 people connected, 1 billion litres delivered. The business model has proven itself. Now the financing model is catching up.

From promises to performance

Most donor financing pays for infrastructure upfront — whether or not it delivers lasting results. Max TapWater operates on a different logic. Water is sold directly to paying households through piped grids across Bangladesh. No continuous donor subsidy. No dependency on the next project cycle. Communities get reliable access to safe water; the business generates the revenue to keep systems running.

 

In 2025, Made Blue became the first investor to provide results-based financing (RBF) to Max TapWater — a three-year commitment that reflects genuine confidence in this model. Under RBF, funding is only released when clean water is demonstrably flowing from household taps: measured, verified, and delivered against agreed targets. The shift is significant. From building infrastructure to delivering services. From promises to performance.

 

Read more about Made Blue's commitment and how they see this partnership →

How results-based financing works

The results-based financing model is built around two clear performance metrics: the volume of water (m³) supplied to households, and grid uptime — with a minimum threshold of 96%. Progress is tracked continuously at grid level and reviewed annually. Funding is released only when targets are met.

 

Independent monitoring is carried out by Max Foundation using the Uptime methodology — the global standard for results-based financing in rural water services. This separation of roles matters: Max TapWater operates and delivers; Max Foundation verifies. The investor pays for what actually happened.

 

As long as Max TapWater continues to perform, the partnership extends. When agreed volumes are consistently delivered over multiple years, additional investment becomes available to support further expansion. Investor interests and community outcomes are directly aligned.

Independent, not dependent

Each water system is operated by a locally trained operator. They carry out maintenance, manage household connections, and keep systems running — building technical skills and generating income within the community. Revenue stays local. Accountability stays local.

 

This is what sustainability looks like in practice: villages no longer waiting for the next donor-funded project, but with access to a water system they pay for and manage. Knowledge and responsibility don't leave when the project ends — because there is no project end.

Looking ahead

For Max TapWater, the results-based financing model with Made Blue is more than a financing mechanism. It is proof of concept for how water access should be financed: impact that is measurable, partnerships that are transparent, services that outlast any single funding cycle. By investing in results — not promises — lasting change becomes possible.

 

This pathway is now open to other investors. The Made Blue agreement demonstrates that Max TapWater can attract performance-linked capital against clear metrics — a business on the path to financial independence, not perpetual grant dependency. For funders looking to move beyond aid, this is where the conversation starts.