Two years ago, a group of entrepreneurs in Pakistan began surveying the market to understand why financial services weren’t reaching the majority of merchants in the world’s fifth most populous nation.
On Friday, Tiger Global said it is backing their startup, CreditBook, to help address those challenges. This is the New York-headquartered firm’s first investment in Pakistan.
A number of other investors, including Better Tomorrow Ventures, Firstminute Capital, Banana Capital, VentureSouq, Ratio Ventures and i2i Ventures, as well as angel investors Sriram Krishnan and Julian Shapiro also participated in the $11 million pre-Series A round. This is also Firstminute Capital’s first investment in the South Asian market.
“We started the research and beg …
