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

Source: Tech in Asia

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.