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DigiKhata, a Pakistani Fintech startup has just closed an international Seed round raising $2M. Led by MSA Capital and joined by key EVM-focused firms Shorooq Partners, SOSV, +92 Ventures, and angel investors, this newly acquired fund puts them on the map of the Pakistani Fintech Startup scene.
Founded in 2020 by Adnan Aslam, DigiKhata redesigns traditional bookkeeping for Micro, Small and Medium Enterprises by introducing a user-friendly digital accounting platform. Saving users’ time and reducing trade credit losses by digitizing and consolidating their trade credit data, and allowing them to track credit and cash transactions seamlessly. Adnan’s first market validation was from his father. An owner of a wholesale business in Faisalabad, and Digikhat’s first user before they crossed a stellar 1M+ registered users.
At the core of DigiKhata’s operation is a keen focus on empowering MSMEs in Pakistan. Commenting on DigiKhata’s most recent developments, founder & CEO Adnan Aslam elaborates “The MSMEs sector significantly contributes to Pakistan’s economy in terms of GDP, exports, and job creation. When empowered with the appropriate tools and resources, their value contribution to the economy can multiply exponentially.” Shortly in their scale-up journey, DigiKhata has also diversified its products by introducing DigiDokaan, a digital platform helping offline businesses open their e-commerce storefronts effortlessly. “We place a premium on ease of use. Growing e-commerce adoption trends, exacerbated, of course, by the 2020 pandemic, prompted us to provide small enterprises with an online presence,” Adnan added.
Investors showed great interest in both, the technical expertise of the team and the growth opportunities resulting from investing in MSME’S. MSA Capital comments “The team’s executional excellence has allowed them to amass the largest user base of any such platform domestically.”
Founding Partner of Shorooq Partners, Shane Shin adds “We are seeing a global trend to bring MSMEs online and empower them digitally... as Founder’s Partners, we are excited to work with Digikhata and look forward to leveraging our strong regional network to support Adnan and the team’s expansion across the GCC and broader MENA region.”
DigiKhata seems to be on a focused path towards Fintech disruption. With this newly acquired funding, they plan to scale their operation and continue designing top-notch solutions to help MSMEs grow and generate real economic value.
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