Khatabook has closed a $60 million Series B round of funding led by B Capital Group.

Khatabook’s new and existing investors including Sequoia India, Partners of DST Global, Hummingbird Ventures, Tencent, GGV, RTP Global, Falcon Edge Capital, Rocketship.vc and Unilever Ventures. Angel investors Kevin Weil, Alexander Will, Kunal Bahl, Kunal Shah also participated in the funding round.

As per the company, it will use the funding amount to increase its products and services offerings to Indian merchants,

Founded by Ashish Sonone, Ravish Naresh, Dhanesh Kumar, Jaideep Poonia and Vaibhav Kalpe in 2018, Khatabook is a Bengaluru-based utility solutions provider which helps micro, small, and medium-sized businesses to manage their business and personal credits.

Talking about Khatabook, Ravish Naresh (Khatabook Co-founder and CEO) said,

“Khatabook is the biggest player in the micro, small, and medium business segment in the country, with over 8 million active merchants on the app. It is playing an important role in the digitisation of MSMEs – a sector that forms the backbone of our economy – helping to increase their incomes and making them more efficient and competitive. We are looking to work closely with the government and financial institutions to strengthen Indian MSMEs.”

In March 2020, Mahendra Singh Dhoni also invested an undisclosed funding amount in the company.