Fintech commence-up Khatabook acquires Biz Analyst for $10 million
3 min read
Aiming to leapfrog in its next section of growth, fintech start off-up Khatabook has acquired Biz Analyst, a SaaS business administration application, in a offer truly worth $10 million as a combine of dollars and equity. With this acquisition, Khatabook will offer its customer foundation of about 10 million regular monthly lively retailers an chance to scale up their businesses by using premium benefit-included providers. The startup is scouting for other these kinds of acquisitions in get to include much more solutions to the system.


Backed by marquee investors these types of as Facebook co-founder Eduardo Saverin, Cred’s Kunal Shah, and Snapdeal co-founders Kunal Bahl and Rohit Bansal, this acquisition is a part of Khatabook’s attempts on monetisation and development. “We will carry on to be on the lookout for great software program companies which will include price to our MSME ecosystem,” claimed Ravish Naresh, CEO and Co-founder, Khatabook. The startup has been performing toward digitising the workflow of micro business owners





It is wanting to accelerate its payments stack in the 2nd 50 {14cc2b5881a050199a960a1a3483042b446231310e72f0dc471a7a1eddd6b0c3} of the calendar year through strategic acquisitions. “We are also building choices for more substantial stores to control their bill creation, stock management and automatic GST filing. These are some of the modules after Pagarkhata that we intend to launch this calendar year,” said Naresh.


Pagarkhata was rolled out in December very last 12 months to support MSMEs digitally deal with workforce-linked duties this sort of as regular monthly/hourly wages, attendance/leaves, payslips, income calculation, and payment.


Launched in late 2016, Biz Analyst is a funds stream good organization offering answers to SMEs working with Tally accounting software program to automate daily organization functions and make facts-pushed decisions to regulate income, inventory, outstandings and productiveness. WIth a latest consumer foundation of 80,000 compensated consumers, Biz Analyst as a section of Khatabook aims to double it this calendar year.


The Biz Analyst group will keep on to run independently, retaining Mumbai operations even though maintaining synergies with the Khatabook headquarter in Bengaluru. The unique co-founding staff of Biz Analyst Vaibhav Vasa, Mehul Sutariya, and Nilesh Zaveri will now be a component of Khatabook’s leadership group.


“As the new chapter in our expansion journey unfolds, we are excited to make more substantial and much better alternatives for our staff, for our associates, and most importantly, for our clients, by bringing in products and solutions that cater to solving day-to-day difficulties confronted by them,” Biz Analyst cofounders Vaibhav Vasa and Mehul Sutariya.

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