Khatabook
YC S18Bengaluru, IN · Founded 2019 · 350 employees · 20 known investors
Khatabook provides a mobile app that allows business owners to digitally record customer credit and debit transactions, replacing paper ledgers; the platform also offers access to lending services and is designed for small businesses managing customer accounts.
Also known as Kyte · Khatabook Technologies Private Limited
Founders & leadership· Y Combinator alumni (S18)
Khatabook was founded in 2019 by Ravish Naresh.
Investors · 20
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Also in the syndicate · 2
Valuation · disclosed
Disclosed eventsSource: SEC prospectus filings, and round valuations the company or its investors disclosed — follow each entry's link for the claim.
Company profile
researched Aug 2026Khatabook is a Bengaluru-based fintech company that builds digital utility software for India's micro, small and medium enterprises. Its flagship Android app replaces paper 'khata' ledgers, letting business owners record credit (jama) and debit (udhar) transactions for their regular customers, send automated payment reminders and use interactive voice response to assist credit collection. Alongside the ledger, the company offers business loans underwritten using merchants' transaction history on the platform, positioning itself as a distribution channel for financial and other services aimed at Indian merchants.
The product portfolio has extended beyond the core ledger app to Pagarkhata for staff attendance and salary management, Cashbook for cash handling and tracking, and Biz Analyst, a business management and business intelligence tool integrated with the Tally ERP9 ecosystem, which Khatabook acquired in March 2021 in a $10 million cash-and-equity deal. An e-commerce storefront product launched in October 2020 as Dukaan by Khatabook, later renamed MyStore, was discontinued from 15 November 2021 as part of a product portfolio consolidation. The company positions its work around the roughly 6.3 crore MSME sector in India and its app is offered in 12-13 languages.
Founding story
The company was started to digitise the ledgers, or 'khatas', of small businesses. Business Today reports it was founded by Ravish Naresh with Dhanesh Kumar and Jaideep Poonia; other coverage describes the founders as IIT-Bombay alumni.
Business model
Khatabook distributes free-to-use ledger and bookkeeping apps to acquire merchants at scale, then monetises the base through digital lending and paid software subscriptions. The company said in October 2022 that it had planned an initial three-year growth phase before entering monetisation, and was expanding paid SaaS subscriptions alongside lending, including a paid desktop version of Khatabook slated for November 2022. It targeted Rs 1,000 crore of assets under management within 12 months and profitability within 18 months. Khatabook was pre-revenue through FY20; Inc42 lists revenue of over Rs 1.4 crore for FY25.
Digital lending to MSMEs based on platform transaction data, plus paid SaaS subscriptions for premium business management products including a paid desktop version of the Khatabook app.
Traction
The company reports the app has been downloaded more than 5 crore times and cites 5 crore registered merchants across 12 languages. In October 2022 it reported 10 million monthly active users and more than $32 billion in monthly transaction value by its MSME users; other coverage cites over 50 million users across 13 languages and about $200 million in daily transactions, plus 150% year-on-year growth in FY21. Reported headcount ranges from 350 (Y Combinator) to 600 (The Arc) and 843 (Inc42).
Latest developments
In October 2022 Khatabook said it aimed to be profitable within 18 months and to reach Rs 1,000 crore of assets under management within 12 months, focusing on digital lending and paid SaaS subscriptions, and planned to launch a paid desktop version of the app in November 2022.
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
One of the more heavily funded digital bookkeeping platforms serving India's MSME sector, reported at a $600 million valuation after its August 2021 Series C, competing with OKCredit and with e-commerce enablement players such as Dukaan, DotPe and Bikayi in the segment it later exited.
Combines a free, vernacular, high-scale digital ledger for informal merchant credit with adjacent staff-payroll, cash tracking and Tally-integrated business intelligence tools, and uses in-app transaction history to underwrite MSME loans.
Technology
Android-based digital ledger application with automated payment reminders and interactive voice response for credit collection, transaction-data-driven loan underwriting, a desktop version, and Tally ERP9 integration via Biz Analyst.
Go-to-market
Mobile-first, largely organic distribution through the Android app store in multiple Indian languages; the company reported adding organic monthly installs and users spread across almost every district in India, with premium SaaS tiers and lending cross-sold to the installed merchant base.
Micro, small and medium enterprises and small merchants across India, including shopkeepers who extend informal credit to customers, and Tally ERP9 users served through Biz Analyst.
Geography
Headquartered in Bengaluru, India, with users across almost every district of India; app localised in 12-13 languages.
History
Founding dates reported for Khatabook vary between 2018 and January 2019 across sources; it took part in Y Combinator's Summer 2018 batch. Seed funding was reported in April 2019, followed by Series A in September 2019, an undisclosed round in March 2020, Series B in May 2020 and a $100 million Series C in August 2021 at a $600 million valuation. In March 2021 it acquired Biz Analyst for $10 million; in October 2020 it launched an e-commerce storefront product, later renamed MyStore after a trademark and plagiarism dispute with rival Dukaan, and shut it down in November 2021. In October 2022 the company outlined a monetisation and profitability roadmap.
Risks & controversies
Khatabook was involved in a legal dispute beginning August 2020 with rival MyDukaan.io over alleged trademark violation and plagiarism relating to its 'Dukaan by Khatabook' product; Khatabook denied the allegations and later renamed the app MyStore, which it shut down in November 2021. The company was pre-revenue until FY20, reporting total expenditure of Rs 127 crore in the year ended 31 March 2020 with no operating revenue. Reported figures for founding year, headcount and user counts differ materially across sources.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Competitors · 5
by search overlap
Companies competing with Khatabook for the same Google search keywords, organic and paid, via search-intersection analysis.
Timeline · 7
launches, deals, and filingsKhatabook said it aimed to become profitable within 18 months and reach Rs 1,000 crore in assets under management within 12 months by focusing on digital lending and paid SaaS subscriptions, including a paid desktop version launching in November 2022.
Khatabook discontinued its MyStore app from 15 November 2021, citing product portfolio consolidation, and asked users to download invoices and uninstall the app. Biz Analyst, Pagarkhata and Cashbook operations continued.
Khatabook raised $100 million in Series C funding from Tribe Capital and Moore Strategic Ventures at a valuation of $600 million; TechCrunch reported the raise for its merchant bookkeeping platform.
$100M source ↗
Khatabook acquired Biz Analyst, a SaaS business management solution integrated with the Tally ERP9 ecosystem, in a $10 million cash-and-equity deal.
$10M source ↗
Khatabook launched an app allowing SMBs to set up a digital storefront and share the link over WhatsApp and social media with no commission charged; it was later renamed MyStore.
Khatabook entered a legal dispute with MyDukaan.io over alleged trademark violation and plagiarism; Khatabook denied the allegations and after a three-to-four-month battle renamed the app from 'Dukaan by Khatabook' to 'MyStore by Khatabook'.
Fast Company World Changing Ideas Awards 2020 finalist; winner of Nasscom League of 10 #Emerge50 Awards 2020; IAMAI 2020 Best Innovative Mobile App; mCube Awards 2020 for Best Content in a Mobile Marketing Campaign.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
Hisabkitab Raises Seed Funding to Expand AI-Powered Accounting Platform for SMEs - Indian Startup Timesindianstartuptimes.com · Jul 2026
Daily Indian Funding Roundup & Key News - 15 July 2026: Ather Bags ₹1,200 Cr, Emergent Turns Unicornstartuptalky.com · Jul 2026▸Research sources · 8
primary sources listed
- About Us | What is Khatabook | Know about ADJ Utility Apps Pvt Ltdkhatabook.com · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Khatabook do?
- Indian fintech whose app lets MSME merchants keep digital credit ledgers and access lending and business software.
- Who founded Khatabook?
- Khatabook was founded by Ravish Naresh in 2019.
- Who are Khatabook's investors?
- Khatabook's investors include Alkeon Innovation, Alpha Wave Global, Angel Collective Opportunity Fund, B Capital Group, B4 Capital, Better Capital, Emphasis Ventures, Flucas Ventures and 10 more.
- Where is Khatabook headquartered?
- Khatabook is headquartered in Bengaluru, IN.