MS Dhoni-backed Khatabook adds to its line-up of star investors — Sequoia and Tencent get more stake in India's largest small business app
fintechstartup Khatabookhas raised $60 million in a series B round of funding led by global equity firm B Capital Group.
- Khatabook’s latest round of funding also saw participation from new and existing investors including Sequoia India, Partners of DST Global, Tencent, GGV and others.
- Earlier in March 2020, former Indian cricket team captain Mahendra Singh Dhoni had invested an undisclosed amount in the startup and is also the brand ambassador for the company.
Khatabook, just like its literal meaning in Hindi, is an account book for small and medium businesses. The business app helps business owners keep a check on their accounts, digitally.
With the boost for the
Advertisement"Khatabook is the biggest player in the micro, small and medium business segment in the country, with over 8 Million active merchants on the app. Khatabook is playing an important role in the digitization of MSMEs helping to increase their incomes and making them more efficient and competitive. We are looking to work closely with the government and financial institutions to strengthen Indian MSMEs", said Ravish Naresh, co-founder and CEO of Khatabook.
Khatabook’s latest round of funding also saw participation from new and existing investors including Sequoia India, Partners of DST Global, Tencent, GGV, RTP Global, Hummingbird Ventures, Falcon Edge Capital, Rocketship.vc and Unilever Ventures. Other angel investors like Kevin Weil, Alexander Will, Kunal Shah, Kunal Bahl and Rohit Bansal too participated in the round.
Earlier in March 2020, former Indian cricket team captain Mahendra Singh Dhoni had invested an undisclosed amount in the startup and is also the brand ambassador for the company.
The startup claims to have 8 million merchants on its platform and said that “1 Million merchants are uploading data and engaging with the Khatabook app daily while adding $200 Million worth of transactions every day. High engagement and utilization of the platform has resulted in more than 25% of the total active merchants joining the platform through word-of-mouth and referrals.”
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