Pakistani fintech startup CreditBook raises $11 million in funding round

Pakistani fintech startup CreditBook has raised $11 million in Pre Series A funding. The funding was led by American investment firm, Tiger Global Management, LLC and firstminute capital with participation from Better Tomorrow Ventures, Ratio Ventures, VentureSouq, i2i Ventures, Banana Capital, Sriram Krishnan and others.

The investmentment will help CreditBook grow their 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 digitise 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.