Every business makes a best move when it has a clear-cut idea of what exactly is the systematic record of transactions. Traditionally; the system was managed in a format that focused on maintaining piles of paper work.
But; we have entered the era of digitization where every other thing demands its electronic format.
Khatabook is a premiere example in such context. The company was in buzz due to the recent acquisition made by it in the software segment. To know more; let’s move ahead with the article.
INSIGHTS ABOUT KHATABOOK
Khatabook is an ecosystem that offers an efficient mode to small enterprises so that they are able to contribute a lot through their digital tools & techniques. The company has reached to the doors with the excellent product design.
It has crossed 20 million users in more than 11 languages.
It has reached to the nation’s 60 crore sector created for upliftment of the nation. The recognitions earned by the company are in various segments like internet & mobile association of India 2020 best innovative mobile app, Best content in mobile marketing, world changing ideas awards 2020 and winner of the NASSCOM League of 10.
The prominent investors in the company are:
- Sequoia
- Partners of DST Global
- GGV Capital
- Hummingbird
- B Capital Group
- RTP Global
- Tencent
- Falcon Edge Capital
- Combinator
THE ACQUISITION STORY
The company acquired the Software as a Service application Biz Analyst in a deal of $ 10 million. The amount was a mixture of cash as well as equity. The main reason for acquisition is that the Khatabook is ready to serve its 10 million monthly active users with certain additional value services.
“We will continue to be on the lookout for good software companies which will add value to our MSME ecosystem,” said Ravish Naresh , CEO and Co-Founder Of Khatabook.
The focus will be on invoice generation, inventory management and integrated GST filling. Pagarkhata was launched in December but certain additional modules will be introduced through this funding. It helped to manage the wages, leaves, payslips and salary payment.
Biz analyst on the other hand; also have some major plans. The application has 80000 paid users and they are planning to double it this year with this decision that will not only affect data driven decisions. The acquisition will not affect the functioning of the company; it will work independently but will provide the best of synergy to the organisations.
The founder of Biz Analyst said that they are excited to take this opportunity and will expect to solve day to day challenges of merchants across the nation.
The motto is to simplify business; empower merchants.
It will be possible only when the synergistic efforts of both the companies come on the front and take the pledge to be of utmost significance to their users. One is for making the functions easy while the other is for making the data part more manageable.
Holistically; both play an inevitable part in any company’s success.
But it is sure Khatabook has definitely taken a good decision by merging its khata with Biz.
