Khatabook raises USD 60 mln, helps SMEs to accept online payments

Wednesday 20 May 2020 15:07 CET | News

India-based startup Khatabook has raised USD 60 million in a financing round led by B Capital, to help merchants digitise bookkeeping and accept payments online.

According to Tech Crunch, the new financial round was led by B Capital, with existing investors such as Sequoia India, Partners of DST Global, Tencent, GGV Capital, RTP Global, Hummingbird Ventures, and Unilever Ventures also participating in the round. 

Because most of the Indian merchants are still offline, they continue to rely on notebooks to keep a log of their financial transactions, which can be time-consuming and can also cause losses. Therefore, Khatabook aims to help merchants digitise their work, and the startup makes it possible for SMEs to record financial transactions digitally and accept payments online via their app. 

Moreover, the number of digitally sophisticated SMEs is expected to double over the next three to five years, with SMEs driving the Indian economy in the era of COVID-19. Consequently, there is a greater need to design digital tools and make small businesses grow, B Capital’s officials stated.

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Keywords: Khatabook, India, SMEs¸ online payments, B Capital, merchants, transactions, app, COVID-19
Categories: Payments & Commerce | Mobile Payments
Countries: India
This article is part of category

Payments & Commerce