Former cricketer MS Dhoni partners with FinTech startup Khatabook
Last updated on February 9th, 2023 at 12:31 pm
Former captain of the Indian cricket team, Mahendra Singh Dhoni enters partnership with the financial technology startup, Khatabook. Besides backing the company financially, Mr. Dhoni would also be endorsing it as its brand ambassador. The firm already created a name for itself in the market with over 2 crore registered merchants on its app. The investment company targets to bring another 2 crore merchants into the SME over the next 12 months.
MS Dhoni said, “Having grown up in small-town India, I saw friends and family struggle with outdated modes of doing business and tracking finances. Khatabook has had an impact on the lives of India’s small merchants and retailers.”
The sports celebrity came onboard after the Bengaluru-based startup successfully raised $25 million (about Rs 176.94 crore), in October last year through its Series A funding round.
In a statement, Ravish Naresh, co-founder and CEO Khatabook said, “We are thrilled to welcome Mahi to the Khatabook family. 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.”
MS Dhoni, in a statement said, “Having grown up in small-town India, I saw friends and family struggle with outdated modes of doing business and tracking finances. Khatabook has had an impact on the lives of India’s small merchants and retailers.”
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“The plan is to drive trust and reliability at a large scale. We will now focus on deepening our relationship with the merchants by creating more use cases and cementing relatability with the brand,” said Ved Prakash, VP Marketing, Khatabook, in a statement.
The Khatabook app is used by traders across 5000 cities in India. Its key focus is to simplify the accounting and financial technology for small enterprises. Its target bunch includes Kirana stores, mobile recharge shops, garment dealers and jewellers. It supports 11 languages. Last year, the app recorded cash transactions worth over Rs. 3.7 lakh crore. The app has merchants not only from India but also from Nepal, Pakistan and Bangladesh.
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