" "

Khatabook raises $100M in funding led by Tribe Capital, Moore Strategic, others

New Update
Khatabook raises $100M in funding led by Tribe Capital, Moore Strategic, others

Khatabook Co-founders - Viabhav Kalpe, Ravish Naresh, Dhanesh Kumar, Ashish Sonone, Jaideep Poonia | Image Courtesy - Entrepreneur India

Khatabook, a leading fintech start-up, today announced it has raised $100 million in a Series C funding round led by US-based venture capital firms Tribe Capital and Moore Strategic Ventures (MSV). With this, The startup is now valued at close to $600 million, getting closer to become a unicorn startup.


Alkeon Capital, along with existing investors B Capital Group, Sequoia Capital, Tencent, RTP Ventures, Unilever Ventures, and Better Capital, including the former and current Andreessen Horowitz partners Balaji Srinivasan and Sriram Krishnan, participated in the funding round, which was a mix of primary and secondary capital.

“The first phase of our journey was enabling digital transformation by building a tech ecosystem for Indian MSMEs. Now that we have created a widely accepted digital platform, the next step will be digitally-enabled financial services for small businesses,” said Ravish Naresh, CEO, and Co-founder, Khatabook.

“In the next phase, the focus will be financial service disbursement through the tech platforms. The financial services on the Khatabook platform will digitally foster lending, payment, and deposits related efficiencies in the ecosystem,” he added.

The Bengaluru-based startup intends to use the funds to expand its software ecosystem, which serves 10 million monthly active MSMEs, as well as to accelerate hiring to strengthen its engineering, product, design, analytics, and data science capabilities, thereby bolstering its talent pool.

According to a statement, Khatabook will also be buying back $10 million in employee stock ownership plan (ESOP) shares to reward current and former employees as well as early investors. Employees who are eligible will be able to sell up to 30% of their vested options, and Khatabook's ESOP pool has been increased to $50 million.

It is known for assisting kiranas and enabling micro, small, and medium enterprises (MSMEs) to increase efficiency and recover dues with the help of its Khatabook app, which was founded by Ashish Sonone, Dhanesh Kumar, Vaibhav Kalpe, Jaideep Poonia, and Ravish Naresh.

It paid $10 million for SaaS accounting software Biz Analyst earlier this year in order to provide premium value-added services like on-demand access to sales, purchase, and inventory management.

Also Read:

Follow IndianStartupNews on FacebookInstagramTwitter for the latest updates from the startup ecosystem.