Dhoni-backed Khatabook clocks Rs 102.7 Cr revenue, cuts losses by 7% in FY24
Khatabook which helps small businesses digitise bookkeeping, marking a 26.97% increase in revenue from Rs 80.88 crore recorded in FY23.
Khatabook, a digital bookkeeping and lending startup, crossed the Rs 100 crore revenue mark in FY24 while trimming losses by 7.32%.
The company, which helps small businesses digitise bookkeeping, posted revenue from operations of Rs 102.70 crore, marking a 26.97% increase from the Rs 80.88 crore recorded in FY23.
The Bengaluru-based company reported a net loss of Rs 116.24 crore, down from Rs 125.43 crore a year earlier.
While total expenses rose only 3% year-on-year (YoY) to Rs 230.08 crore in FY24, a notable cut came in employee benefit expenses, which fell by 17% YoY to Rs 117.12 crore.
On the other hand, other expenses, including contractor and payment gateway charges surged 51% YoY to Rs 106.44 crore.
Khatabook is a Bengaluru-based startup helping Indian merchants digitise their bookkeeping and accept online payments. Backed by investors including Y Combinator, Peak XV (Sequoia), and Mahendra Singh Dhoni, Khatabook has raised over $100 million.
The startup is among a cohort of Y Combinator backed startups that is moving its domicile to India from the US.
Khatabook was founded in December 2018 by Ravish Naresh, Dhanesh Kumar, and Jaideep Poonia.
Edited by Kanishk Singh
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