In the time of small business bookkeeping, accounting applications can change how you work together. As an independent venture, you don’t have a major bookkeeping or accounting division to manage your books and help with monetary strategy. This is the place where accounting or bookkeeping applications can help.

OkCredit, a bookkeeping app that intends to digitize representing small businesses in India, has made considerable progress in just 3 years. OkCredit established in 2017, the application has over 10 million active users with around $12 billion worth of transactions recorded in the period of January 2021. In this category, OKCredit has solid rivalry from Khatabook, which accomplished 10 million downloads within the year of dispatch. Be that as it may, OKCredit has been developing at a consistent speed.

OkCredit CEO and founder Harsh Pokharna state, with the organization expecting its dynamic client base to develop around 17% to 21% in this financial year.

OkCredit Company Profile

okcredit logo

Company Name OkCredit
Legal Name Psi Phi Global Solutions Pvt. Ltd.
Parent Company Psi Phi Global Solutions Pvt. Ltd.
Sector Accounts, Finance
Headquarter Bengaluru, Karnataka, India
Headquater Region Asia-Pacific (APAC)
Founded Date April 2017
CEO Harsh Pokharna
Founders Harsh Pokharna, Gaurav Kunwar, Aditya Prasad
Brank Ambassador Delhi Capitals (IPL)
Total Funding $84 Million
Monthly Visitors 245,863 (SemRush)
Official Website Okcredit.in

About OkCredit

OkCredit is a credit account management platform for businesses and their clients. It is a smartphone-based arrangement that empowers the recording of credit/installment transactions carefully the whole way across the country. Prasad established it in April 2017, with its head office in Koramangala, Bengaluru, India.

Bengaluru-based startup OKCredit, which offers small businesses to screen their regular purchases, deals, and transactions, as of now has in excess of 10 million unique customers spread across more than 2,000 metropolitan regions in India, as shown by a top company official.

OkCredit Founder

Harsh Pokharna founded OKCredit in April 2017 along with Gaurav Kunwar and Aditya Prasad.

okcredit founders
Okcredit founding team

Harsh Pokharna completed his B.Tech from IIT Kanpur in Mechanical Engineering in 2014. Following his graduation, Harsh was related to various prominent organizations including Flipkart, Intel Corporation, and Reliance Payment Solutions Limited (JioMoney). In 2015, he began his startup journey with his college companions Gaurav Kunwar and Aditya Prasad by dispatching a platform named ClanOut (a social discovery platform).

Harsh Pokharna
Harsh Pokharna (Founder & CEO of Okcredit)

Aditya Prasad has Bachelor’s degree from IIT Kanpur in 2010. He also worked with eminent companies like Hitachi, National Informatics Center, Reliance Payment Solutions Limited (JioMoney). Currently, he is the co-founder & Chief technology officer (CTO) in OkCredit.

Gaurav Kunwar also completed his degree from IIT Kanpur. Presently, Gaurav is the Co-founder & CPO in OkCredit.

OkCredit Business Model

OkCredit startup depends on the record of Udhar or Jama (Borrow & Deposit). It helps little dealers and business owners to digitize their bookkeeping and credit balance recording. Fundamentally, Okcredit is assisting with diminishing the weight of keeping up and bookkeeping paper account books and making the management easier.

It is actually similar to having an accounts management book in your pocket. The plan of action of Okcredit is making India come on the internet. As the Prime Minister of India, Narendra Modi also praises digitalization in India.

OkCredit Revenue Model

OkCredit needs to change how India’s humblest vendors do their step-by-step bookkeeping, from paper-based register scratch pads to a more digitized and coordinated way using a compact application. The startup mostly targets little daily businesses like Grocery vendors, Paan shops, Stationery stores, Pharmacy stores, and garments expert centers, among others.

The founders of OkCredit haven’t disclosed the revenue model in the public domain yet.

OkCredit Funding

Advanced bookkeeping startup OkCredit has gotten $10 million (nearly Rs. 80 crores) in valued financing round from its California-based parent company OkTech Inc. This is the subsequent tranche gotten by OkCredit from the holding company after it got $1 million convertible debt in July 2019.

If we talk about the funding rounds, OkCredit has rounded up around $84 million in the capital in a blend of debt and value financing rounds to date. On 10th June 2019, Okcredit has received $15.5 million in Series A led by Tiger Global and Y combinator.

The last round came in the month of September 2019 when the Harsh Pokharna-drove firm had gotten $67 million worth Series B financing drove by Tiger Global and Venture Highway.

OkCredit Growth

After the launch in 2017, OkCredit was the first digital accounting application in India. At that time, the organization also raised around $84 million within 20 months of its launch. According to App Annie’s information, OkCredit has 10 million+ lifetime downloads though Khatabook has been downloaded more than 9 million times.

“We at first got going working exclusively with grocery stores, which we got past references. We needed to extend our market reach and explore different portions. For that to occur, we began conversing with people in the business, and upon that we understood that a similar issue existed all through all classes and supply chains. There was a desperate need on the lookout for making account management easy and that the area was insignificantly disregarded. After that, we slowly started establishing ourselves and there was a spurt in demand for our products across all market segments and geographical regions” said Harsh Pokharna in an interview.

He also said, “In 2017, we began with 1 client, and presently we have around 10 million different clients with around $12 billion transactions recorded in the long stretch of January, and it’s developing at a decent speed. We have outperformed our pre-Coronavirus levels. We are expective a growth in our active users should develop around 18 to 20 percent in this financial year.”

OkCredit Competitors

The major competitors of Okcredit are Khatabook, BharatPe, Instamojo, Razorpay, PayMate, Simply Vyapar Apps Pvt. Ltd., etc.


Digitalization is something magnificent and it is making business managements simpler to oversee than ever before. Everybody can transform their mobile or tablet into a portable bookkeeping machine by downloading a couple of helpful applications like OkCredit that will save you both time and cash. These startups are putting great effort and really making some changes within the economy with their innovative startup ideas.

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