Khatabook, a fintech and accounting startup, wants to grow its financial services division. To this goal, the business is expanding its subscriber base for its premium software-as-a-service offering while doubling down on digital lending.
In the upcoming 18–20 months, the company hopes to become profitable. Khatabook currently generates gross sales on an annualised basis of Rs 70 crore.
In the upcoming 12 months, the firm plans to steadily ramp up its digital lending business and surpass the Rs 1,000 crore milestone in terms of assets under management. In order to distribute loans, Khatabook has been testing its lending products over the past six months in collaboration with four NBFCs.
Next year, Khatabook also plans to make a move into the financing of supply chains. All of this occurs after the startup was previously criticised for not having a functioning business plan and for producing no revenue in FY20. Increase in SaaS base The company’s digital invoice and reconciliation product Biz Analyst, which it purchased for $10 million in a cash-equity mix in March of last year, generates the majority of the company’s sales.
In August 2021, Tribe Capital and Moore Capital Ventures organised a financing round in which Khatabook raised its most recent $100 million.
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