Khatabook intends to become most accessible neo-bank for MSMEs in India

New Delhi (India): Khatabook, one of India's leading fin-tech startups, on Thursday announced its plan to become a Digital bank for MSMEs by the end of 2022. 

This decision is in line with Khatabook's mission to empower MSMEs with digital business capabilities, resulting in improved business efficiency and incomes for MSMEs. 

The startup also plans to hire 80 people in its lending, payments, and FinServ teams this year.  

Merchant focused Digital Bank

With the user base spread in almost every district in India, Khatabook intends to become the most accessible Neo Bank platform for Indian merchants. 

Contributing towards building the infrastructure for better financial access in India, the Khatabook platform will provide digital touchpoints to avail and manage credit, savings, and cash flows. 

Started in Jan 2019, Khatabook has solved the most critical business finance pain point for MSMEs by digitising their accounts / Bahi Khatas, thereby providing them with better visibility into their cash flows and business performance.

Payments Services & Credit Recovery

Khatabook has built end-to-end payment services on its platform to help merchants send or receive money for their business expenses or revenues. The Collect payment link can be shared by the merchant for settling payment dues with the customers. 

Lending and Deposits

With the Series C funding announcement in August 2021, Khatabook expressed the intention of enhancing FinServ on the platform by introducing Lending for MSMEs. 

The Startup has concluded a successful pilot and is in the process of introducing lending on the App. Besides, term loans, the startup also intends to provide various financing options like invoice discounting and supply chain financing for its merchants and their counter-parties on its Biz Analyst platform, so that they can collaboratively manage their capital with efficiency and achieve growth.