Khatabook

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Khatabook
IndustryFinancial Services
FoundedJanuary 2019
HeadquartersBangalore
Key people
Ravish Naresh (CEO)
Number of employees
350+
Websitehttps://khatabook.com/

Khatabook is an Indian Fintech and Finserv company headquartered in Bangalore, India.[1][2]

In 2020, Khatabook became one of the fastest-growing SaaS companies for onboarding more than 8 million MSMEs as monthly active users on its digital book-keeping app in less than 2 years.[3]

History[edit]

Khatabook was founded by a group of IIT Bombay graduates Ashish Sonone, Dhanesh Kumar, Jaideep Poonia, and Ravish Naresh along with Vaibhav Kalpe. [4]

In March 2020, MS Dhoni, a former professional cricketer and skipper of the Indian national cricket team, invested in Khatabook and became the brand ambassador for the startup.[5]  

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.[6]

In March 2021, Khatabook made its first acquisition, 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.[7]

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. [8] [9]

The startup announced a buyback of $10 million worth of ESOPs and expanded its ESOP pool to USD 50 million in August 2021.[10] 

Awards and recognition  [edit]

  • CB Insights’s fourth and Fifth annual Fintech 250 global list [11] [12]
  • Y Combinator’s top companies list for 2021 and 2022 [13] [14]
  • Business Insider on 100 People transforming business in the Asia Pacific (Ravish Naresh, CEO & Co-Founder) 2020 [15]
  • Nasscom Emerge 50 League of 10, 2020 [16]
  • 11th Edition of AEGIS GRAHAM BELL AWARDS for FinTech Innovation of the Year [17]
  • 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[18]

References[edit]

  1. ↑ "Khatabook bets on lending, SaaS for revenue". The Economic Times. Retrieved 12 December 2022.
  2. ↑ "KhataBook ^ 821006". HBR Store. Retrieved 12 December 2022.
  3. ↑ "How Khatabook onboarded more than 80 lakh MSMEs on its digital book-keeping app in less than 2 yrs". www.timesnownews.com. Retrieved 12 December 2022.
  4. ↑ "How Khatabook Eased Bookkeeping Woes of Small Shop Owners in India". Gadgets 360. Retrieved 12 December 2022.
  5. ↑ "MS Dhoni invests in fintech startup Khatabook". The Economic Times. Retrieved 12 December 2022.
  6. ↑ Singh, Manish (20 May 2020). "India's Khatabook raises $60 million to help merchants digitize bookkeeping and accept payments online". TechCrunch. Retrieved 12 December 2022.
  7. ↑ Bhalla, Tarush (25 March 2021). "Khatabook acquires Biz Analyst for $10 million". mint. Retrieved 12 December 2022.
  8. ↑ "India Bookkeeping App Raises $100 Million From Tribe, Moore". Bloomberg.com. 24 August 2021. Retrieved 12 December 2022.
  9. ↑ Singh, Manish (24 August 2021). "India's Khatabook raises $100 million for its bookkeeping platform for merchants". TechCrunch. Retrieved 12 December 2022.
  10. ↑ "Khatabook gets $100-million funding, announces ESOP buyback". The Economic Times. Retrieved 12 December 2022.
  11. ↑ "BharatPe, CRED, Groww in CB Insights' list of top 250 fintech companies of 2021". Business Today. 6 October 2021. Retrieved 12 December 2022.
  12. ↑ "The Fintech 250: The most promising fintech companies of 2022". CB Insights Research. Retrieved 12 December 2022.
  13. ↑ "Y Combinator Top Companies List". Y Combinator. Retrieved 12 December 2022.
  14. ↑ "Indian startups second to US on Y Combinator's top companies list". The Economic Times. Retrieved 12 December 2022.
  15. ↑ O'Neill, Michael. "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". Business Insider. Retrieved 12 December 2022.
  16. ↑ "Nasscom announces winners of Emerge 50 2020". The Times of India. 11 November 2020. Retrieved 12 December 2022.
  17. ↑ "Winners and finalists for the 11th Edition of Aegis Graham Bell Awards (Virtual) declared". www.business-standard.com. 2 March 2021. Retrieved 12 December 2022.
  18. ↑ "India's Fast Growth SMEs Honoured At BW Emerging Businesses". BW Businessworld. Retrieved 12 December 2022.
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