Udhaar Book, a ledger management startup based in Pakistan, has raised $6 million in seed funding. Udhaar Book was created as a digital ‘khata,’ or bookkeeping app, to assist SMEs in keeping track of sales, expenses, and customer credit.
Merchants can use Udhaar Book to manage their inventory, payroll, as well as their accounting & collection needs. Furthermore, Udhaar has partnered with telecoms to allow merchants to offer mobile top-ups, and the startup has expanded its capability to allow MSMEs to build up websites using the Udhaar app. The funding will be used to expand Udhaar Book’s super app ecosystem, which presently allows small businesses to do digital bookkeeping, inventory management, invoicing, employee attendance, and payroll all in one app.
The startup claims that its monthly active users have increased by 300 percent in the last three months, with over 1.4 million registered users in 421 Pakistani cities and areas and 510,000 monthly active users.