Khatabook, a digital bookkeeping and lending startup, crossed the Rs 100 crore revenue mark in FY24 while trimming losses by 7.32%.
The company, which helps small businesses digitise bookkeeping, posted revenue from operations of Rs 102.70 crore, marking a 26.97% increase from the Rs 80.88 crore recorded in FY23.
The Bengaluru-based company reported a net loss of Rs 116.24 crore, down from Rs 125.43 crore a year earlier.
While total expenses rose only 3% year-on-year (YoY) to Rs 230.08 crore in FY24, a notable cut came in employee benefit expenses, which fell by 17% YoY to Rs 117.12 crore.
On the other hand, other expenses, including contractor and payment gateway charges surged 51% YoY to Rs 106.44 crore.
Khatabook is a Bengaluru-based startup helping Indian merchants digitise their bookkeeping and accept online payments. Backed by investors including Y Combinator, Peak XV (Sequoia), and Mahendra Singh Dhoni, Khatabook has raised over $100 million.
The startup is among a cohort of Y Combinator backed startups that is moving its domicile to India from the US.
Khatabook was founded in December 2018 by Ravish Naresh, Dhanesh Kumar, and Jaideep Poonia.
