NEW DELHI: Khatabook announced a strategic partnership with Mahendra Singh Dhoni, who will invest in the company and become its brand ambassador. The firm has crossed 2 crore registered merchants on its app.
The firm has set expansion plans across smaller towns and villages. Khatabook is aiming to onboard another 2 crore merchants over the next 12 months. The firm plans to use proceeds from the latest equity investment to expand its product portfolio and double down on its technology and capabilities.
In a statement, Ravish Naresh, co-founder and CEO Khatabook said, “We are thrilled to welcome Mahi to the Khatabook family. This partnership seemed like the most natural fit, and we look forward to setting new milestones together as we build financial solutions for a billion Indians.”
MS Dhoni, in a statement said, “Having grown up in small-town India, I saw friends and family struggle with outdated modes of doing business and tracking finances. Khatabook has had an impact on the lives of India’s small merchants and retailers.”
“The plan is to drive trust and reliability at a large scale. We will now focus on deepening our relationship with the merchants by creating more use cases and cementing relatability with the brand,” said Ved Prakash, VP Marketing, Khatabook, in a statement.
Merchants across 5000 cities use the Khatabook app. These include Kirana stores, mobile recharge shops, garment dealers and jewelers. It supports 11 languages and has recorded cash transactions worth over Rs. 3.7 lakh crore in the last one year. The app has merchants in Nepal, Pakistan and Bangladesh.