The popular Indian digital ledger startup Khatabook has recently acquired SaaS (software-as-a-service) business management application Biz Analyst in a $10 million that is around Rs 72.6 crore cash and equity deal.
It is one of the first ever strategic acquisitions of KhataBook. It is a three year old company which has been experiencing a steady growth rate. It hopes to offer premium and value-added services to its 10 million customer base, and will drive monetization at a better rate.
The platform will enable Khatabook’s small scale professional or business customers to digitise operations for business growth and expansion by leveraging business analytics, sales force automation and digital invoicing.
The acquired firm Biz Analyst launched in 2016, it automates their daily business operations and functionalities to make data-driven decisions to manage sales, inventory, productivity, outstandings and so on. It claims to have 80,000 users and will continue to operate separate brands under Fintech firm Khatabook.
It also said to be cash flow positive. The leadership team will be joined by both the company’s founders namely, Vaibhav Vasa, Mehul Sutariya, and Nilesh Zaveri (Khatbook’s).
Talking about the features or strengths then Biz Analyst offers the perfect extension to our present business model and portfolio. The acquisition is a step forward for Khatabook in its mission to offer business efficiency to India’s MSMEs via value-added services- said by Ravish Naresh, CEO and Co-founder of Khatabook in his recent statement.
In the last year, Khatabook raised funds in the month of May 2020 from existing and new bunch of investors, namely Sequoia India, Partners of DST Global, Tencent, RTP Global, Hummingbird Ventures, Falcon Edge Capital, GGV, Unilever Ventures, Rocketship, etc.
Lastly, with the advent of technology and increasing demand of technology friendly applications or ways of operating business, fintech startups like Khatabook are growing. With planned and well analyzed acquisitions and mergers, it will raise its power and skill set which will help in working efficiently in the long run.
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