Khatabook All Set to Pocket $20 Mn in its 'Khata' with Talks of Funding
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Khatabook, a fintech start-up that endeavours to keep accounting and book-keeping records for small entrepreneurs is in talks to raise $20 million in Series A round of funding from DST Partners Fund, Ribbit Capital and Sequoia Capital according to a media report.
The DST Partners fund is a personal investment vehicle for the partners at Yuri Milner’s DST Global.
According to the report, more than 20 angel investors including prominent investor Gokul Rajaram, Jitendra Gupta, the founder of Citrus Pay, and Kunal Shah, CEO of Cred, are set to participate in the round in all likelihood.
The start-up may also get an additional $5 million from Chinese investors reportedly.
Khatabook has previously raised $4 million from Y Combinator, InfoEdge. It was also part of Sequoia’s accelerator programme Surge. Founded by IIT alumni-Ravish Naresh, Jaideep Poonia, Dhanesh Kumar, and Ashish Sonone, the founders hail from Tier 2 cities. Since its inception just one year ago in 2018, it has gained immense traction and popularity for its concept. The multi-lingual mobile app provides reminders to merchants regarding payments. It claims to 1 Mn downloads, on-boarded over 400K businesses organically, and recently, it hit headlines for crossing a milestone of $1 Bn in transactions.