Fintech start-up Khatabook acquires Biz Analyst for $10 mn in a money, fairness deal

Fintech get started-up, Khatabook, on Thursday introduced the acquisition of Biz Analyst, a major SaaS organization administration software, in a deal value $10 million in a blend of money and fairness.

With this acquisition, Khatabook aims to leapfrog into the next stage of expansion and offer you its customer base of over 10 million monthly active merchants an opportunity to scale up their corporations by utilising high quality benefit-extra products and services. Generating a closer integration with their upstream provide chains — distributors, wholesalers, traders, and suppliers, Khatabook customers can now seamlessly avail supplemental attributes to increase their effectiveness as a result of enterprise analytics, revenue pressure automation and digital invoicing.

Also go through: Khatabook launches app to enable MSMEs digitally deal with workforce

Released in late 2016, Biz Analyst is a funds move positive enterprise supplying options to SMEs employing Tally accounting application to automate daily company functions and make facts-driven choices to deal with income, inventory, outstandings and productiveness. The business has accomplished constant progress and presently has about 80,000 paid out customers. Biz Analyst, now as section of Khatabook, aims to double the person foundation in 2021 and build greater chances for the community of its 1,000+ channel companions (sellers of accounting application items).

The Biz Analyst group will continue to run independently, retaining Mumbai operations, when keeping synergies with the Khatabook headquarters in Bangalore. The unique co-founding crew of Biz Analyst Vaibhav Vasa, Mehul Sutariya, and Nilesh Zaveri will now be portion of Khatabook’s leadership staff.

The acquisition is in line with Khatabook’s ongoing endeavours to travel significant modify and address intricate problems in-household as a result of technological innovation and emphasis on constructing the suitable infrastructure to empower MSMEs in the place. Utilising Khatabook’s main energy, Biz Analyst’s tech answers will probably reach a popular and substantial community of MSMEs spanning virtually each individual district in India. The tech and product or service advancement attempts will be scaled up even though streamlining selecting and expertise improvement beneath the Khatabook framework.

Ravish Naresh, CEO and Co-founder, Khatabook explained, “This deal is our first strategic acquisition as we intensify our community results, up the provide chain and emphasis on monetisation. The functions and strengths that Biz Analyst offers are the fantastic extension to our existing organization portfolio.”

About the study course of the final 12 months, many MSMEs and kiranas have adopted engineering to turn out to be much more operationally resilient. Powering the digital transformation of the ecosystem, Khatabook system recorded 1.4 billion+ transactions with a cumulative worth of a lot more than $100 billion.