Pakistan based Credit Management Application for Small and Micro Finance Enterprises, ‘CreditBook’ has secured $1.5 million in seed funding from undisclosed institutional and angel investors to support the digitization of micro-entreprises while allowing them to track their transactions and manage their cash flows.
Seed Round investors include BitRate VC, VentureSouq, Better Tomorrow Ventures, Ratio Ventures, Quiet Capital, Toy Ventures, and i2i Ventures. The funding was also backed by angel investors BukuWarung, Musha Ventures, and Rappi.
The venture was launched in 2020 by Hasib Malik and two co-founders. The mobile application allows user to manage its lendings and borrowings while sending alerts for upcoming payments. The app is targeted towards small and medium enterprises for better managing their cash flows.
CreditBook is one of the widely used credit management application in Pakistan with more than 500,000 installs.
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