Khatabook is celebrating its 3 years anniversary with a milestone of over INR 1.8 trillion monthly recorded transactions across its platform – Cashbook, and BizAnalyst. Founded in January 2019, Khatabook today is the leading Fintech startup in India with 10Mn+ monthly active merchant users, managing more than 344 Mn customers on its platforms.
Amidst the growing demand for technology solutions by Indian MSMEs, Khatabook has experienced exponential growth in its 3-year journey. In the past 3 years, the Khatabook platform has penetrated the grassroots of India and has a user base spread across nearly every district in the country. Khatabook is available in 13 regional languages and close to 25% of users on Khatabook are using the app in their preferred regional language. Significant growth in user base, over 50% MOM, on platform, remains organic, indicating the trust in the brand and Indian MSMEs strong inclination towards digital adoption. Maharashtra, Rajasthan, Delhi, Uttar Pradesh and Gujarat were the top 5 user base growth states for Khatabook in 2021.
Acquired in March 2021, Biz Analyst by Khatabook has touched 100k+ paying customers in 2021. Biz Analyst is uniquely positioned to provide end-to-end real-time business intelligence and decision-making capabilities to SMEs, including business insights based on the app’s integration with tally software of SMEs.
Cashbook by Khatabook, an expense management tool, has crossed 1.8M+ installs in 2021. Available in 15 languages, Cashbook is an exclusive android app for those who want to leverage only the expense management functionality. Cashbook is also available as a feature within the Khatabook app.
Ravish Naresh, CEO, and Co-founder, Khatabook, said, “2021 has been a crucial year in Khatabook’s journey. Besides our continued growth momentum, we made several important long-term strategic decisions for business and building our talent base. I am humbled by the continued trust of our users. This milestone showcases our commitment to the empowerment of MSMEs in India. 2022 is going to be an exciting year for the MSME ecosystem.”
In 2021 the startup raised USD 100 Mn in series C round, executed its first ESOP buyback of USD 10 Mn, reached the org size of 320+ employees, and crossed INR 1.8 Trillion Monthly Recorded Transactions mark across Platforms. To effectively support MSMEs, made strides with its product offerings in 2021 by acquiring Biz Analyst, launching an exclusive Cashbook app, introducing Automated bot call reminders, the first-ever IVR tech exclusively designed for Indian MSMEs. For 2022, the focus for the startup will be financial service disbursement through its tech platforms while it continues strengthening its overall tech offerings portfolio for MSMEs.