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CreditBook raises $1.5m - Newspaper


KARACHI: CreditBook, a Pakistani startup that helps micro-entrepreneurs digitise and track transactions, has raised $1.5 million in seed funding, said a press release.
The round was led by Bitrate VC from Islamabad and the UAE-based Venture Souq. Other participating investors included US-based fintech fund Better Tomorrow Ventures, Ratio Ventures, Quiet Capital, Toy Ventures and i2i Ventures.
Published in Dawn, May 5th, 2021
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Dubai's VentureSouq invests in Karachi-based CreditBook's $1.5 million seed round


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. ....

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Pakistani startup CreditBook raises $1.5 million in seed funding - Business


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. ....

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