Pakistani fintech startup CreditBook raises $11 million: Pakistani fintech startup CreditBook has raised $11 million in Pre Series A funding. The funding was led by an American investment firm, Tiger Global Management, LLC, and first minute capital with participation from Better Tomorrow Ventures, Ratio Ventures, VentureSouq, i2i Ventures, Banana Capital, Sriram Krishnan, and others.
The investment meant will help it grow its team and build accessible finance for entrepreneurs.
CreditBook launched in 2020 with the aim to improve the financial outcomes of small and medium businesses across Pakistan.
Starting with a simple digital ledger, the company has been building secure software for millions of businesses to manage their credit, sales, and expense cycles.
The CreditBook mobile app can be downloaded by businesses and vendors to digitize ledgers, manage on the go and reconcile their accounts automatically. It also promises to keep your data safe, secure, and backed up. The app also helps users schedule and sends free payment reminders to reduce the likelihood of bad debts.