SUMMARY
- Khatabook has reported revenue from operations to be Rs 102.70 crore in FY24.
- The company reported a net loss of Rs 116.24 crore.
- The company’s total expenses rose by only 3% YoY to Rs 230.08 crore in FY24.
Bengaluru-based Khatabook, a digital bookkeeping and lending startup, has reported revenue from operations of Rs 102.70 crore in FY24, representing a 26.97% increase from the Rs 80.88 crore recorded in the FY23.
Despite the revenue growth, the company reported a net loss of Rs 116.24 crore, which was down 7.32% from Rs 125.43 crore in FY23.
While the company’s total expenses rose by only 3% YoY to Rs 230.08 crore in FY24, a notable reduction was observed in employee benefit expenses, which fell by 17% YoY to Rs 117.12 crore.
However, other expenses, including contractor and payment gateway charges, surged by 51% YoY to Rs 106.44 crore.
Khatabook is a Bengaluru-based startup that helps Indian merchants digitize their bookkeeping and accept online payments.
The company has received backing from investors such as Y Combinator, Peak XV (Sequoia), and Mahendra Singh Dhoni, and has raised over $100 million in funding.
Khatabook is part of a cohort of Y Combinator-backed startups that are moving their domicile from the US to India. The company was founded in December 2018 by Ravish Naresh, Dhanesh Kumar, and Jaideep Poonia.
