Khatabook, a business app that helps micro-, small and medium-sized enterprises (MSMEs) with performing digital transactions, has revealed that it has entered a partnership with former Indian Cricket captain Mahendra Singh (MS) Dhoni.
MS Dhoni, the World Cup-winning skipper, will make a strategic investment in Khatabook. He will also serve as the company’s brand ambassador. Dhoni’s investment in the Fintech firm has come after it reportedly surpassed 20 million registered merchants on its app.
Dhoni stated:
“There are many new-age companies in the country, only a few like Khatabook, are making a difference at the grassroots level. Having grown up in small-town India, I saw friends and family struggle with outdated modes of doing business and tracking finances.”
He noted that Khatabook has had a significant positive impact on the lives of India’s smaller vendors and retail outlets.
He remarked:
“I am very excited to join them at a crucial point in their journey, as they work towards achieving their goal of transforming the way India does business.”
The company aims to expand its operation across small towns and villages in India. It is planning to onboard another 20 million merchants over the next year.
Khatabook’s management said it plans to use the funds from its recent equity investment to further expand its product offering and upgrade its technology stack.
Ravish Naresh, co-founder and CEO Khatabook, noted:
“We are thrilled to welcome Mahi to the Khatabook family. He embodies the spirit of true sportsmanship and entrepreneurship – the ability to adapt, evolve and be a leader, focusing on a larger cause beyond his success.”
Naresh continued:
“At Khatabook, we aspire to build the same level of trust, agility and reliability among our merchants and business partners and be a true partner to them in their journey. To us, 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.”
Merchants across over 5000 cities in India are currently using the Khatabook app.
