BellaCH: Khatabook

2023-01-02T04:20:00Z

Khatabook

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{{Use dmy dates|date=January 2023}}
{{Use Indian English|date=January 2023}}
{{Company infobox
| image = Khatabook-White-BG-Red-Logo-Horizontal.png
| type = Private
| industry = Financial Services
| founded = January 2019
| hq_location = Bangalore
| key_people = Ravish Naresh (CEO)
| num_employees = 350+
| website = https://khatabook.com/
}}

'''Khatabook''' is an Indian [[Fintech]] and [[Financial services|Finserv]] company headquartered in Bangalore, India.<ref>{{Cite news |title=Khatabook bets on lending, SaaS for revenue |work=The Economic Times |url=https://economictimes.indiatimes.com/tech/startups/khatabook-bets-on-lending-saas-for-revenue/articleshow/94948797.cms?from=mdr |access-date=2022-12-12}}</ref><ref>{{Cite web |title=KhataBook ^ 821006 |url=https://store.hbr.org/product/khatabook/821006 |access-date=2022-12-12 |website=HBR Store |language=en}}</ref>

In 2020, Khatabook became one of the fastest-growing SaaS companies for onboarding more than 8 million [[MSME]]s as monthly active users on its digital book-keeping app in less than 2 years.<ref>{{Cite web |title=How Khatabook onboarded more than 80 lakh MSMEs on its digital book-keeping app in less than 2 yrs |url=https://www.timesnownews.com/business-economy/companies/article/how-khatabook-onboarded-more-than-80-lakh-msmes-on-its-digital-book-keeping-app-in-less-than-2-yrs/707164 |access-date=2022-12-12 |website=www.timesnownews.com |language=en}}</ref>

== History ==
Khatabook was founded by a group of [[IIT Bombay]] graduates Ashish Sonone, Dhanesh Kumar, Jaideep Poonia, and Ravish Naresh along with Vaibhav Kalpe. <ref>{{Cite web |title=How Khatabook Eased Bookkeeping Woes of Small Shop Owners in India |url=https://www.gadgets360.com/apps/features/indian-startups-101-khatabook-ceo-ravish-naresh-all-you-need-to-know-2330036 |access-date=2022-12-12 |website=Gadgets 360 |language=en}}</ref>

In March 2020, [[MS Dhoni]], a former professional [[Cricket|cricketer]] and skipper of the [[India men's national cricket team|Indian national cricket team]], invested in Khatabook and became the brand ambassador for the startup.<ref>{{Cite news |title=MS Dhoni invests in fintech startup Khatabook |work=The Economic Times |url=https://economictimes.indiatimes.com/small-biz/sme-sector/ms-dhoni-invests-in-fintech-startup-khatabook/articleshow/74669567.cms |access-date=2022-12-12}}</ref>

In June 2020, Khatabook raised $60 million in Series B, led by B Capital, including Sequoia India, Partners of DST Global, Tencent, and other investors.<ref>{{Cite web |last=Singh |first=Manish |date=2020-05-20 |title=India's Khatabook raises $60 million to help merchants digitize bookkeeping and accept payments online |url=https://techcrunch.com/2020/05/19/indias-khatabook-raises-60-million-to-help-merchants-digitize-bookkeeping-and-accept-payments-online/ |access-date=2022-12-12 |website=TechCrunch |language=en-US}}</ref>

In March 2021, Khatabook made its first [[Takeover|acquisition]], [https://bizanalyst.in/ Biz Analyst], a Tally on Mobile application, in a $10 million deal to strengthen its presence within MSME ecosystem of large retailers, distributors, and manufacturers.<ref>{{Cite web |last=Bhalla |first=Tarush |date=2021-03-25 |title=Khatabook acquires Biz Analyst for $10 million |url=https://www.livemint.com/companies/start-ups/khatabook-makes-its-first-acquisition-through-biz-analyst-11616651031775.html |access-date=2022-12-12 |website=mint |language=en}}</ref>

In August 2021, Khatabook closed a $100 million Series C funding round, with a valuation close to $600 million. This round was led by Silicon Valley-based Tribe Capital and Moore Strategic Ventures (MSV). The objective of the fresh fund was to build financial services / Digital lending on the platform. <ref>{{Cite news |date=2021-08-24 |title=India Bookkeeping App Raises $100 Million From Tribe, Moore |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/news/articles/2021-08-24/india-bookkeeping-app-raises-100-million-from-tribe-moore |access-date=2022-12-12}}</ref> <ref>{{Cite web |last=Singh |first=Manish |date=2021-08-24 |title=India's Khatabook raises $100 million for its bookkeeping platform for merchants |url=https://techcrunch.com/2021/08/23/indias-khatabook-raises-100-million-for-its-bookkeeping-platform-for-merchants/ |access-date=2022-12-12 |website=TechCrunch |language=en-US}}</ref>

The startup announced a buyback of $10 million worth of ESOPs and expanded its ESOP pool to USD 50 million in August 2021.<ref>{{Cite news |title=Khatabook gets $100-million funding, announces ESOP buyback |work=The Economic Times |url=https://economictimes.indiatimes.com/tech/funding/khatabook-gets-100-million-funding-announces-esop-buyback/articleshow/85585464.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst |access-date=2022-12-12}}</ref>

== Awards and recognition ==

* [[CB Insights]]’s fourth and Fifth annual Fintech 250 global list <ref>{{Cite web |date=2021-10-06 |title=BharatPe, CRED, Groww in CB Insights' list of top 250 fintech companies of 2021 |url=https://www.businesstoday.in/latest/economy/story/bharatpe-cred-groww-in-cb-insights-list-of-top-250-fintech-companies-of-2021-308638-2021-10-06 |access-date=2022-12-12 |website=Business Today |language=en}}</ref> <ref>{{Cite web |title=The Fintech 250: The most promising fintech companies of 2022 |url=https://www.cbinsights.com/research/report/top-fintech-startups-2022/ |access-date=2022-12-12 |website=CB Insights Research |language=en-US}}</ref>
* [[Y Combinator]]’s top companies list for 2021 and 2022 <ref>{{Cite web |title=Y Combinator Top Companies List |url=https://www.ycombinator.com/topcompanies |access-date=2022-12-12 |website=Y Combinator |language=en}}</ref> <ref>{{Cite news |title=Indian startups second to US on Y Combinator’s top companies list |work=The Economic Times |url=https://economictimes.indiatimes.com/tech/startups/india-tops-the-chart-after-us-in-y-combinators-top-companies-list/articleshow/89905360.cms |access-date=2022-12-12}}</ref>
* [[Business Insider]] on 100 People transforming business in the Asia Pacific (Ravish Naresh, CEO & Co-Founder) 2020 <ref>{{Cite web |last=O'Neill |first=Michael |title=With around US$84 million in funding, Khatabook is the early market leader for digital bookkeeping in India, ahead of rivals such as OkCredit and Vyapar |url=https://www.businessinsider.com/khatabook-early-market-leader-in-digital-bookkeeping-in-india-2020-11 |access-date=2022-12-12 |website=Business Insider |language=en-US}}</ref>
* [[NASSCOM|Nasscom]] Emerge 50 League of 10, 2020 <ref>{{Cite web |date=11 November 2020 |title=Nasscom announces winners of Emerge 50 2020 |url=https://timesofindia.indiatimes.com/gadgets-news/nasscom-announces-winners-of-emerge-50-2020/articleshow/79176780.cms |access-date=2022-12-12 |website=The Times of India |language=en}}</ref>
* 11th Edition of AEGIS GRAHAM BELL AWARDS for FinTech Innovation of the Year <ref>{{Cite web |date=2021-03-02 |title=Winners and finalists for the 11th Edition of Aegis Graham Bell Awards (Virtual) declared |url=https://www.business-standard.com/content/press-releases-ani/winners-and-finalists-for-the-11th-edition-of-aegis-graham-bell-awards-virtual-declared-121030201130_1.html |access-date=2022-12-12 |website=www.business-standard.com}}</ref>
* BW Businessworld - Young Leader of the year(Under 40) creating Emerging Business 2021(Ravish Naresh, CEO & CO-Founder) and Most innovating products by emerging enterprise 2021<ref>{{Cite web |title=India’s Fast Growth SMEs Honoured At BW Emerging Businesses |url=http://businessworld.inhttps//www.businessworld.in/article/India-s-Fast-Growth-SMEs-Honoured-At-BW-Emerging-Businesses-/24-01-2022-418602 |access-date=2022-12-12 |website=BW Businessworld |language=en}}</ref>

== References ==
{{reflist}}

[[Category:Indian companies established in 2019]]
[[Category:Financial technology companies]]
[[Category:Financial services companies of India]]
[[Category:Companies based in Bangalore]]
[[Category:2019 establishments in Karnataka]]

Khatabook - Revision history

BellaCH: Khatabook