Indian Startup Khatabook Raises US$25 Million In Series A Funding

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Khatabook, a Banglore based start-up launched in the year 2019 with the desire of being the best in providing digitalized bookkeeping and helps SMEs record and review transactions with the customers. This application allows micro, small and medium-sized businesses to keep a digital log of financial transactions and accepts payments online. Khatabook was founded by Ravish Naresh, Dhanesh Kumar(co-founder) and Jaideep Poonia(co-founder) working by aiding businesses with decision-making capabilities.

The Khatabook App has plans to integrate enhanced functions such as billing and invoicing to serve merchants and also to launch other products catered to SMEs. This application targets to enable monetization of its user base.

Khatabook Highlights

Khatabook manages credit accounts by recording, sharing and reviewing transactions with all your customers in one place
Customer records are safe and the user can easily recover relevant data
It is available in 11 regional languages across India an hence has deep penetration into the hinterland
Free SMS reminders such as sending free WhatsApp and SMS payment reminders to customers who owe you money
Download reports as PDF and sharing transactional data with the customer to map credits and debits
All transactions are backed up online automatically

The Road Map

Khatabook has raised funding of US$25 million in series A funding round and the startup has secured a total of US $29 million to date. It has over 2.9 million businesses and 5 million users across India, Nepal, Bangladesh, and Pakistan.

Surge, Sequoia India’s startup accelerator has invested US$1.5 million in Khatabook. A clutch of high-profile investors including Gokul Rajaram of Square, James Viraldi of TikTok, Aditya Agarwal of Dropbox, Sriram Krishnan. A couple of firms including GGV Capital, partners at DST Global, RTP Ventures, Tencent and Y Combinator participated in investment along with 20 more investors such as former PayU India CEO Amrish Rau, SoftBank Investment Advisors senior managing partner Deep Nishar and Snapdeal CEO Kunal Bahl.

“At Khatabook, we have taken early but significant steps towards leveraging this trend to digitize India’s shopkeepers. For most of our merchants, we are the first business software they’ve used in their entire life. And we will continue to build more India-first innovations to further enable the growth of what is still a largely untapped sector,” said CEO and co-founder Ravish Naresh.