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Khatabook’s FY22 Loss Surges 3.4X To INR 111 Cr, Income Up To INR 78 Cr

Khatabook’s profit from operations quadrupled to INR 71.1 Cr from INR 16.9 Cr in FY21

General bills grew 74% to INR 189.3 Cr in FY22 from INR 108.6 Cr in FY21

The fintech startup’s EBITDA margin progressed to -154% from -186% in FY21

Fintech startup Khatabook’s internet loss widened over 3X to INR 111.1 Cr within the monetary 12 months 2021-22 (FY22) from INR 32.5 Cr within the earlier fiscal 12 months as its money burn larger with the expansion in trade.

The startup’s profit from operations quadrupled to INR 71.1 Cr from INR 16.9 Cr in FY21. It earned maximum of its profit from tool building and consultancy services and products. In FY22, Khatabook earned INR 58.1 Cr from tool building and consultancy services and products, a bounce of 405% from INR 11.5 Cr in FY21. 

General source of revenue, together with different source of revenue, surged to INR 78.1 Cr from INR 19.1 Cr in FY21. 

The expansion in running profit ended in a upward push in Khatabook’s bills in FY22, albeit at a slower tempo. General bills grew 74% to INR 189.3 Cr in FY22 from INR 108.6 Cr in FY21.

Worker get advantages bills accounted for the most important proportion in overall bills, surging 173% to INR 101.1 Cr from INR 37 Cr within the earlier 12 months. Conversation bills rose to INR 24 Cr, a 200% building up from INR 8.4 Cr in FY21. 

Khatabook’s net loss widened over 3X to INR 111.1 Cr in the financial year 2021-22 (FY22) from INR 32.5 Cr in FY21

Khatabook, based via Vaibhav Kalpe and later received via Kyte Applied sciences in 2018, is a fintech startup that is helping small shopkeepers and kirana retailer homeowners arrange their accounts and stay monitor of the cash owed to them thru a virtual ledger. After its acquisition, Kalpe joined the Kyte staff. 

In August 2021, the startup raised $100 Mn in its Collection C spherical led via US-based VC companies Tribe Capital and Moore Strategic Ventures (MSV) at a valuation of $600 Mn. The investment spherical additionally noticed participation from Alkeon Capital, Sequoia Capital, Tencent, RTP Ventures, Unilever Ventures, Higher Capital, and others. 

After elevating the spherical, the startup discontinued its flagship book-keeping app and MyStore, a virtual on-line storefront for kiranas. The startup knowledgeable its consumers that it deliberate to discontinue the MyStore App from November 15, 2021. At this time, the startup provides trade control programs for MSMEs in more than one languages. The startup claims its app has been downloaded via over 50 Mn customers. 

Khatabook competes in opposition to the likes of OkCredit, Pagarbook, and Paytm’s Trade Khata.

Supply By means of https://inc42.com/buzz/khatabooks-fy22-loss-surges-3-4x-to-inr-111-cr-revenue-up-to-inr-78-cr/