Digital financial record-keeping application KhataBook, with its well-suited pitch line ‘Digital India ka Digital Khata’, took wings from a thought during a gathering at online spend supervisor organization Kyte.ai.
During the pandemic period, each small and medium-sized digital business has shown its online presence. Particularly, the utilization of online platforms has facilitated the pressure of businesses and retailers. The idea of crediting and charging cash digitally has opened ways for numerous new companies. One of the new businesses we will discuss is “Khatabook”. And you will figure out the full Khatabook business model.
With the utilization of a finance record management application program, as Khatabook, you don’t have to stress over failing to remember the due dates of installments to be made. Khatabook is the World’s Fastest-developing SaaS organization (Software as a service). Khatabook reminds you through WhatsApp or SMS notification when the cash is expected to be paid or gathered.
|Legal Name||Khatabook INC.|
|Parent Company||Kyte Technologies (Kyte.ai)|
|Headquarter||Bangalore, Karnataka, India|
|Headquater Region||Asia-Pacific (APAC)|
|Founders||Ashish Sonone, Dhanesh Kumar, Jaideep Poonia, Ravish Naresh, Vaibhav Kalpe|
|Total Funding||Around $200 million|
|Number of fundings||4|
|Valuation||$350 Million (Janurary 2021)|
|Monthly Visitors||414,442 (SemRush)|
The company Khatabook established by Ravish Naresh, Dhanesh Kumar, Jaideep Poonia, Vaibhav Kalpe (not working now), and Ashish Sonone in 2018, Khatabook helps business owners to deal with their business and individual credits.
Back in 2016, Ravish Naresh, alongside his group of school companions, begun Kyte.ai, a digital financial record-keeping application. They needed to assist their clients with understanding their cost designs utilizing their SMS feature. As advanced exchanges occur alongside SMS notification, they felt it was a decent passage to highlight sort out clients’ monetary state.
That is the point at which the thought for Khatabook created, and they began work on basic money the executive’s application and named it Khatabook. The Khatabook parent organization is Kyte Technologies.
Khatabook Core Team
Dhanesh Kumar, Jaideep Poonia, Ashish Sonone.
Director of engineering
Rajeev Kumar Sharma
Head of communication
Senior growth manager
Harikesh Tiwari, Renuka T, Karika Shaw, etc.
Khatabook Business Model
Khatabook is a portable application that assists business owners and managers with digitizing their bookkeeping and credit balance records. It is a Bangalore-based startup founded in the year 2018. Essentially, Khatabook is lessening the weight of keeping up and bookkeeping paper account books. It is actually similar to having an accounts management book in your pocket. The plan of action of KhataBook is making India come on the web. As the Prime Minister of India, Narendra Modi also praises digitalization in India.
It’s 100% allowed to utilize and free from any danger for a wide range of organizations with which retailers can record credit and debit of clients.
KhataBook App Owner Naresh says their attention is currently on building up the application to give a total monetary facility for private ventures. The startup has plans to bring a large group of new highlights onto the stage and the next is the Unified Payment Interface installment.
If we discuss their revenue, Khatabook App is running from its seed speculations, as a startup, it might have a top-notch form and membership-based model to open some more highlights for use. The application will bring in cash from its top-notch administration as of now, and there could be no other procuring services for Khatabook.
Khatabook Revenue Model
The founders of the application haven’t disclosed the income model in the public domain yet. As of now, the startup runs on investors’ funds is as yet investigating new freedoms and better approaches to adapt the application.
The company has brought $25 million in funds from GGV capital, Tencent, Partners of DST Global, RTP Ventures, Sequoia India, Y Combinator, and others till now.
The absolute funding of Digital Khatabook is about $112.9 million. In the year 2019, Khatabook brought $50 million up in Series A drove by GGV Capital, DST Global, Sequoia India, Tencent, and others tech giant companies as well. On the other hand, Khatabook also brought $1.5 million up in seed subsidizing drove by Sequoia Capital India.
In the year 2020, the company brought $60 million up in Series B drove by Capital Group.
There are many rivals of the company Khatabook in the market. The top competitors of KhataBook are OkCredit, PayMate, Simply Vyapar Apps Pvt. Ltd., Working Papers, BharatPe, Instamojo, Razorpay, Obopay, and more.
Khatabook’s business model truly rotates around (but isn’t restricted to) the sort of business owners working outside the central metropolitan urban areas in India. In simple words, they’re changing the manner in which keep up record books. Since staple retailers exist wherever in India, and relatively few endeavors made to lessen their problem areas, Khatabook was invited as a solution.
Shockingly, for an organization that is esteemed at $250 million, Khatabook’s valuation still can’t seem to deliver a solitary penny for itself. So why are investors are more willing to leave behind their investment, despite the fact that the danger is so incredible? It’s their trust in the manner Ravish Naresh is driving the organization, and the bearing they’re going towards.
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