Pakistan’s fintech looking to digitise small stores raises funds

A Pakistani startup that helps mom-and-pop stores go digital has raised RM24.94mil in early funding, as startups in the country begin to attract more interest by investors. — Bloomberg

Udhaar Book, a Pakistani cashflow management services provider for small businesses, raised US$6mil (RM24.94mil) in early funding to digitise mom-and-pop stores that mostly operate using a manual register and handwritten entries.

The Karachi-based startup, whose parent is Toko Lab Inc., raised the money in seed funding from investors including Fatima Gobi Ventures, Plaid co-founder William Hockey’s Muir Capital, Tinder co-founder Justin Mateen’s JAM Fund LLC, Integra Partners and Commerce Ventures LLC.