This is the third installment of our new Why We Invested series, where we’ll go into every investment we make from Fund II and talk about the problems that our portfolio companies are addressing, and what they’re doing about it. (You can find installment one, about wagely, and installment two, about Naluri, here). Our analyst Theodore draws in his spare time, and so we chose to capture a lot of the ideas about what these companies are up to using art instead of text.
But for the third installment, we wanted to do things a little differently, and delve a little deeper into the data. (Brace yourselves, we are geeking out on data with this one. For those of you who understandably have better things to do, feel free to skip to the summary at the end.)
A few months ago, Integra invested a tiny check in the pre-Y Combinator W21 Demo Day round of Udhaar Book. Fahad and Shah are building the Khatabook of Pakistan, helping micro SMEs across the country to digitize their bookkeeping. While we would have loved to invest more, we didn’t have much time to make a decision. And so we really made our initial investment on the merits of the market opportunity. But a few months after that round closed, Udhaar Book’s growth outstripped all expectations, and Fahad and Shah decided to accelerate their next round of funding. This time, we had plenty of time to get to know the company, and we participated via Integra Partners Fund II in a much more significant way.
For this article, we’ll cover:
Read the full article here
Written by Jennifer Ho, Partner at Integra Partners. Illustrated by Theodore Ng.