Udhaar Book, a super app for Pakistan’s small businesses, has raised US$6 million in seed funding from multiple investors including Fatima Gobi Ventures (FGV), Plaid co-founder William Hockey’s Muir Capital, Tinder co-founder Justin Mateen’s JAM Fund, Commerce Ventures, Liberty City Ventures, Atlas Ventures, Integra Partners, Omri Dahan (Marqeta) and Immad Akhund (Mercury Bank).
The funds will be used to build out Udhaar Book’s super app ecosystem, which now enables small businesses to conduct digital bookkeeping, manage inventory, invoicing, staff attendance, and payroll – in a single, seamless app.
Based on the Urdu word ‘udhaar’ which means a loan or on credit, Udhaar Book was launched in 2020 as a digital ‘khata’ or bookkeeping app to help small businesses keep track of sales, expenses, and udhaar (credit extended to customers).
The brainchild of Fahad Kamr, Shah Warraich, and Myra Ali, Udhaar Book has since graduated from Y Combinator’s accelerator program and expanded its solutions to become a super app for small businesses.
In Pakistan, Udhaar Book stands out as a one-stop-shop for end-to-end small business operations. No other app provides merchants with the ability to manage their inventory and payroll, in addition to accounting and collection needs.
Pakistan is home to an estimated 25 – 30 million micro-SMEs that are still run manually. These small businesses contribute 74% to the country’s gross domestic product, highlighting the massive value add potential when...
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