Digi Khata, a Fintech startup based in Faisalabad and a participant in Telenor Pakistan’s digital accelerator programme, Velocity, has raised $2 million in funding.
The startup, which launched early last year, has already accumulated more than a million users in Pakistan. It provides a comprehensive financial control and reconciliation solution for small and micro businesses looking to maintain their accounts and ledgers digitally.
Digi Khata’s unique insight into Pakistani business has already garnered the application $2 million in funding from China’s MSA Capital, the UAE’s Shorooq Partners, SOSV, and several other angel investors. Digi Khata, founded in 2020 by Adnan Aslam, enables Pakistani micro, small, and medium enterprises to save time and money by assisting them in remembering and recovering trade credit faster through automated alerts.
Adnan Aslam founded Digi Khata with the goal of digitally transforming Pakistan’s small and micro businesses by providing them with easy, user-friendly access to their ledgers and enabling them to make more informed decisions.
Telenor Velocity, which was created to foster an environment of innovation and collaboration, has been credited with enabling Pakistan’s technology startups to break new ground in digital product and service offerings, scaling them to unprecedented heights. Since its inception in 2016, the accelerator has graduated 32 startups, run more than four pilots, and invested $40,000 in a pilot.
Telenor Velocity enables startups like Digi Khata to scale by providing them with exclusive access to Telenor Pakistan’s resources, including its APIs, data analytics, and retail network, among other benefits. This enables startups to establish the necessary opportunities for strategic partnerships in the long run, just as Digi Khata has done with the Easypaisa API, which enables users to make and receive payments seamlessly from within the Digi Khata application.
Following the immediate success of Digi Khata, the company also launched Digi Dokaan, an e-commerce platform that enables aspiring online sellers to create free stores and sell products. Telenor Pakistan has also made its SMS APIs available for the generation of text messages directly from the DigiKhata app, as well as for Digi Dokaan.
Telenor Velocity is a programme that provides startups with up to six months of equity-free support. Along with access to Telenor Pakistan’s 48 million customers and 8 million users of the My Telenor App, startups benefit from marketing campaigns, domain expertise, and access to cutting-edge data analytics and customer insights.