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US-based investment firm Tiger Global has made its first investment in Pakistan in fintech startup CreditBook which has raised $11 million in its pre-Series A round, the media reported on Friday. ....
THE RISE OF PAKISTANI TECH - Newspaper dawn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dawn.com Daily Mail and Mail on Sunday newspapers.
Dubai s VentureSouq invests in Karachi-based CreditBook s $1.5 million seed round Pakistan has one of the world’s fastest-growing middle class populations and has seen a 720% increase in 4G users over the last five years. In January 2021, 100 million internet connections were registered in the country amid the Covid-19 pandemic. However, a large number of the population still remains offline, and microentrepreneurs still use pen and paper to keep track of their transactions. Digital bookkeeping startup CreditBook is trying to make sure that those people weren’t left behind in this digitalization trend. The Karachi-based company announced today that it has raised US$1.5 million seed funding from international and local investors. ....
CreditBook, a fintech startup that helps micro-entrepreneurs digitise and keep records of their transactions, has raised $1.5 million in seed funding. Photo courtesy Facebook CreditBook, a Pakistani fintech startup that helps micro-entrepreneurs digitise and keep records of their transactions, has raised $1.5 million in seed funding in a round that included both international and local investors, the startup said in a statement on Tuesday. The startup, which was launched in June 2020, has over 500,000 users and grew over 450 per cent in the last six months, according to the statement. The funding would help it scale its users and product offerings by digitising more small businesses, it said. ....