Startup Profile
Khatabook
Legal entity: Kyte Technologies Private Limited
Digital ledger for India's small businesses
Founders
- Ravish Naresh
CEO and co-founder of Khatabook. An IIT Bombay alumnus who previously co-founded Housing.com (where he served as COO) before starting Kyte Technologies, which built and relaunched Khatabook.
- Jaideep Poonia
Co-founder of Khatabook. Civil Engineering graduate from IIT Bombay; went through Y Combinator's S18 batch before co-founding the company.
- Ashish Sonone
Co-founder of Khatabook. Computer Science graduate; previously worked at JetSynthesys and Qiosk before co-founding Kyte.
- Dhanesh Kumar
Co-founder of Khatabook. Computer Science graduate who began his career as a Software Developer at Amazon before co-founding ventures with the Kyte team.
- Vaibhav Kalpe
Built the original Khatabook Android app after watching his father struggle with paper bookkeeping at his electrical shop. His product was acquired by Kyte Technologies in 2018 and relaunched and scaled by the combined team.
Funding rounds
- Series C2021-08-24₹830.00 CrLed by Tribe Capital and Moore Strategic Ventures
- Series B2020-05-01₹498.00 CrLed by B Capital Group
- Series A2019-10-01₹207.50 CrLed by GGV Capital and Sequoia India
- Seed2019-04-19₹12.45 CrLed by Sequoia Surge
Financials
MCA / self-reported| Fiscal year | Revenue | Profit / (Loss) | Employees |
|---|---|---|---|
| FY23 | ₹80.88 Cr | (₹125.43 Cr) | — |
| FY24 | ₹102.70 Cr | (₹116.24 Cr) | — |
The full story
Rich-text rendering of long_story is wired in the design pass.
Timeline
- 2024Crossed Rs 100 crore revenue in FY24 — Reported operating revenue of Rs 102.70 crore in FY24 (up ~27% from FY23) while narrowing net loss to Rs 116.24 crore.
- 2021-08$100M Series C at $600M valuation — Closed a $100M Series C led by Tribe Capital and Moore Strategic Ventures at roughly a $600M valuation, with ~10M monthly active users, plus a $10M ESOP buyback.
- 2020-05$60M Series B led by B Capital — Raised $60M led by B Capital Group, the venture firm co-founded by Facebook co-founder Eduardo Saverin.
- 2019-10$25M Series A — Raised $25M led by GGV Capital and Sequoia India, with Tencent and partners of DST Global participating.
- 2019-04Seed funding from Sequoia Surge — Raised about $1.5M from Sequoia's Surge accelerator program.
- 2018Original Khatabook app built and acquired by Kyte Technologies — Vaibhav Kalpe's simple Android bookkeeping app, built after watching his father manage a shop ledger on paper, was acquired by Ravish Naresh's Kyte Technologies in 2018, which relaunched and scaled it.