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Khatabook, a utility solutions provider which helps micro, small and medium businesses track business transactions, has closed a $60 million Series B round of funding led by B Capital Group.
The round also saw participation from new and existing investors including Sequoia India, Partners of DST Global, Tencent, GGV, RTP Global, Hummingbird Ventures, Falcon Edge Capital, Rocketship.vc and Unilever Ventures.
Angel investors Kevin Weil, Alexander Will, Kunal Shah, Kunal Bahl and Rohit Bansal also participated.
The latest funding will allow Khatabook to ramp up its products and services offerings for India's merchants, as the company builds technology solutions around financial services and a large merchant-focused distribution platform.
"Khatabook is the biggest player in the micro, small and medium business segment in the country, with over 8 million active merchants on the app. Khatabook is playing an important role in the digitisation of MSMEs – a sector that forms the backbone of our economy - helping to increase their incomes and making them more efficient and competitive. We are looking to work closely with the government and financial institutions to strengthen Indian MSMEs,” said Ravish Naresh, co-founder and CEO of Khatabook.
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