Total amount raised
$186.7 Millions
Latest funding date
8/1/2021
Location
Khatabook has successfully raised significant funding over multiple rounds, with its latest being a Series C. The platform offers a digital ledger app designed to streamline financial management for small businesses.
Keep reading to explore the intricacies of Khatabook's fundraising journey and the investors backing this innovative platform.
What Is Khatabook?
Khatabook, founded in 2018, is a fintech startup based in Bangalore, Karnataka, India. The company offers a digital ledger app designed to help small businesses manage their accounts and finances efficiently.
The founders of Khatabook are Ashish Sonone, Dhanesh Kumar, Jaideep Poonia, Ravish Naresh, and Vaibhav Kalpe. The app is available in over 11 languages and aims to increase business efficiency and reduce costs.
With a team of 101-250 employees, Khatabook has become India's fastest-growing SaaS company, serving more than 20 million registered users.
How Much Funding Has Khatabook Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: August 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the digital ledger app.
- Seed Round
- Amount Raised: $1.5M
- Date: April 2019
- Lead Investors: Surge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the app and expand user base.
- Series A
- Amount Raised: $25M
- Date: October 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: General growth and expansion.
- Series B
- Amount Raised: $60M
- Date: May 2020
- Lead Investors: B Capital
- Valuation at Round: Between $275M to $300M
- Motivation Behind the Round: To enhance fintech offerings during the pandemic.
- Series C
- Amount Raised: $100M
- Date: August 2021
- Lead Investors: Tribe Capital and Moore Strategic Ventures
- Valuation at Round: $600M
- Motivation Behind the Round: To build financial services and hire talent.
Total Amount Raised: $186.5M. Current Valuation: $600M.
Key Investors
- Tribe Capital
- Details: Tribe Capital is a venture capital firm that focuses on early-stage and growth-stage investments in technology companies. They leverage data science to identify and support high-potential startups.
- Investment Focus Areas: Technology, Fintech, SaaS
- Notable Investments: Carta, Front, Bolt
- Moore Strategic Ventures (MSV)
- Details: MSV is the private investment arm of Louis M. Bacon, focusing on long-term investments in public and private markets across various sectors. They aim to support transformative companies with significant growth potential.
- Investment Focus Areas: Technology, Financial Services, Real Estate
- Notable Investments: SpaceX, Robinhood, Flipkart
- B Capital Group
- Details: B Capital Group invests in growth-stage companies that are transforming large industries and scaling rapidly. They partner with companies to provide strategic guidance and operational support.
- Investment Focus Areas: Healthcare, Fintech, Enterprise Software
- Notable Investments: Bird, Ninja Van, Atomwise
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm that invests in seed, early, and growth-stage companies in various sectors. They have a long history of backing successful startups and helping them scale.
- Investment Focus Areas: Technology, Healthcare, Consumer Services
- Notable Investments: Apple, Google, WhatsApp
- Tencent
- Details: Tencent is a multinational conglomerate holding company that invests in internet-related services and products, entertainment, AI, and technology. They are known for their strategic investments in high-growth companies.
- Investment Focus Areas: Internet Services, Entertainment, AI
- Notable Investments: JD.com, Snap Inc., Epic Games
What's Next for Khatabook?
With $100 million in Series C funding, Khatabook is poised to expand its financial services and hire top talent in engineering, product, and data science. This capital injection, led by Tribe Capital and Moore Strategic Ventures, underscores the vast opportunities in the Kirana-tech sector, where digital transformation is rapidly gaining traction among small businesses in India.
Future fundraising seems promising as Khatabook continues to grow and attract high-profile investors. However, the company faces challenges such as intense competition from other fintech startups and the need to maintain service quality while scaling operations. Navigating regulatory changes will also be crucial for sustained success.
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