KhataBook to launch insurance & credit this year

Digital ledger application KhataBook is exploring new revenue streams, and may start offering credit and insurance products for merchants later this year. It has already started pilots, and will cater to its 8.5 million monthly active merchant base through partner firms. Besides, it will look to introduce new features to improve discoverability, and make it a paid service. The move comes after they posted losses of Rs. 126 crore in 2019-20, with zero operating revenue since starting operations.

Ravish Naresh, CEO & Co-Founder, Khatabook said, “Our priority was to build the software bedrock of the company and double down on as many use-cases as possible for merchants. We also wanted to maximize reach and gain significant market share while getting supply chain visibility. Commerce and financial services are natural extensions to our product now.”