Khatabook was started in 2018 as a bookkeeping application for small and medium-sized enterprises to record their transactions digitally. Currently, Khatabook is valued at around $275 million to $ 300 million after its series B financing round. The app is currently available in 11 languages across India, Nepal, Pakistan, and Bangladesh.
Khatabook at a glance:
- Bookkeeping application for small and medium enterprises.
- Founder: Ravish Naresh, Jaideep Poonia, Dhanesh Kumar, and Ashish Sonone.
- Year founded: 2018
- Profit (2020): INR 126 crores (loss).
- Revenue: INR 0.
Index:
What is KhataBook?
Khatabook is a fin-tech startup that helps small and medium business to transfer their physical ledger to digital copies and also allows them to accept online payments.
It is 100 percent free to use and safe and secure for all types of businesses with this shop owners can record credit (Jama) and debit (Udhar) transactions for customers.
Who are the Founders of Khataboook?
Khatabook was founded in 2018 by four IIT Bombay alums, Ravish Naresh(Ex-COO of Housing.com), Jaideep Poonia, Dhanesh Kumar, and Ashish Sonone.
How much Team Khatabook have raised?
In October 2019, Khatabook has raised $25 million in a Series A funding round from GGV Capital, Tencent, Sequoia Capital, along other top angel investors.
The new financing round, Series B, was led by Facebook co-founder Eduardo Saverin’s B Capital.
The Series-B round values Khatabook at between $275 million and $300 million, has also seen participation from a bunch of investors like RTP Global, Hummingbird Ventures, Better Capital, Falcon Edge Capital, Rocketship.vc and Unilever Ventures, also participated in the round, as did Facebook’s Kevin Weil, Calm’s Alexander Will, CRED’s Kunal Shah and Snapdeal co-founders Kunal Bahl and Rohit Bansal.
What is the Khatabook merchant offer?
After creating your Khatabook Merchant account in the Khatabook app you can opt for the Khatabook merchants offer.
On your first ever transaction with the Khatabook QR code, you will receive INR 11 cashback and that will be settled immediately to your account. After that on your 5th transaction, 10th transaction, and 20th transaction on a daily basis you will receive INR 10, 15, and 20 respectively.
Who are Khatabook’s competitors in the market?
Khatabook competes with the companies like OkCredit and Paytm’s Business Khata, which also helps small and medium enterprises to record financial transactions and also allows them to send reminders to their creditors via text and instant messaging platforms.
Recently, PagarBook also emerges as their major competitor which allows small to medium-sized enterprises to keep track of their staff attendance, salary, & bonuses.
Khatabook claims to have more than 8 Mn active businesses on its platforms helping them transact over $200 Mn every day.
What is the Khatabook Future Scope?
As per in 2020 mobile insight firm AppAnnie statistics says Khatabook had more than 910,000 daily active, ahead of Paytm’s merchant app, which is used each day by about 520,000 users, OkCredit with 352,000 users, PhonePe with 231,000 users and BharatPe, with some 120,000 users.
In these aspects, Khatabook user engagement seems positive for them. Also as per Khatabook’s founder, they handle $200 million worth of transactions on a daily basis and they were already in more than 700 districts of India and have 800 million merchants on the app.
But still, there is a lot to cover for all the bookkeeping apps like Khatabook, OkCredit, and Paytm Business Khata as India’s payments market could reach $1 trillion by 2023, according to a report by Credit Suisse.
Facts and updates:
- In FY20 Khatabook lost Rs 126 Cr with zero revenue.
- Till 2021 Khatabook has onboarded more than 80 lakh MSMEs.
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What is KhataBook?
Khatabook is a fin-tech startup that helps small and medium business to transfer their physical ledger to digital copies and also allows them to accept online payments.
Who are the Founders of Khataboook?
Khatabook was founded in 2018 by four IIT Bombay alums, Ravish Naresh(Ex-COO of Housing.com), Jaideep Poonia, Dhanesh Kumar, and Ashish Sonone.
What is Khatabook merchant offer?
After creating your Khatabook Merchant account in the Khatabook app you can opt for the Khatabook merchants offer.
On your first ever transaction with the Khatabook QR code, you will receive INR 11 cashback and that will be settled immediately to your account. After that on your 5th transaction, 10th transaction, and 20th transaction on a daily basis you will receive INR 10, 15, and 20 respectively.
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