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Khatabook, a mobile application that enables SMEs to record and track business transactions, has raised $25 million in Series A round from GGV Capital, Partners of DST Global, RTP Ventures, Sequoia India, Tencent, Y Combinator and others.
This takes Khatabook’s total funding to date to $29 million since its inception in December 2018, the company said in a statement.
“India is at an inflection point with dramatically low data costs leading to strong adoption of smartphones, especially amongst its millions of merchants. At Khatabook, we have taken early but significant steps towards leveraging this trend to digitise India’s shopkeepers,” said Ravish Naresh, CEO, and Co-Founder, Khatabook.
“We will continue to build more India-first innovations to further enable the growth of what is still a largely untapped sector,” he added.
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