Udhaar App
Udhaar App is a fintech company based in Karachi and Sindh, Pakistan, providing a book-keeping application designed to assist micro SMEs in managing their finances digitally. The app supports over 1 million businesses in Pakistan, contributing significantly to the country's GDP.
Company Overview
Udhaar App is a fintech company based in Karachi, Sindh, Pakistan, with additional operations in other regions including South Asia. With a team of 32 employees, the company focuses on providing digital bookkeeping and financial management tools tailored for micro SMEs. Launched as part of the Y Combinator W21 batch, Udhaar App has made significant strides in the fintech payments sub-industry, aiding around 30 million small businesses in Pakistan. The app has over 1 million downloads and a 4.6-star rating on Playstore and Appstore.
Products and Services
Udhaar App offers several products designed to streamline financial management for small businesses. These include Udhaar Book for tracking credit transactions, Cash Book for cash flow management, Staff Payroll for employee payments, and Item Inventory for stock management. The platform also provides a range of services including Easyload, Bill Payments, and selling Vouchers. Besides core bookkeeping features, Udhaar App offers opportunities for additional earnings through features like Share & Earn and bus ticket sales.
Target Audience
Udhaar App is primarily aimed at small and micro enterprises (SMEs) in Pakistan, targeting around 30 million businesses that contribute significantly to the nation's GDP. The platform supports various types of businesses such as Kiryana & General Stores, Mobile & Electronics shops, Distributors & Suppliers, Medical Stores, Stationery Shops, Hotels & Restaurants, Pan Shops, and Garment Stores. The application caters to these businesses by helping them digitize their financial operations and maximize profitability.
Market Presence and User Base
Udhaar App serves customers extensively across Pakistan and South Asia, with a growing remote and partly remote user base. The company has witnessed a 720% growth in 4G adoption over five years, reflecting the increasing digital engagement among its target audience. Trusted by over 5.1 million merchants, the app has secured a strong foothold in the market, emphasizing its reliability and effectiveness in business management. Additionally, it supports online freelancers and exporters in managing their finances and receiving foreign remittances.
Industry Impact and Growth
Operating within the fintech industry, particularly in the payments segment, Udhaar App plays a pivotal role in the digital transformation of micro SMEs in Pakistan. By providing user-friendly financial management tools, the app empowers businesses to improve their financial health. The platform's significant growth and adoption reflect its impact, with over 1 million downloads and a high user satisfaction rate, evidenced by a 4.6-star rating on both Playstore and Appstore. Udhaar App's contributions support the financial ecosystem in Pakistan, fostering economic growth and enhancing digital literacy.