MAM
Report on Shemaroo

MS Dhoni invests in Khatabook, India’s fastest growing fintech startup

India’s most successful cricket captain will also be the brand ambassador of the startup

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2020/03/17/khatabook.jpg?itok=PXvV7rhg

Khatabook, that is revolutionizing the accounting process in India for small businesses, today announced a strategic partnership with international cricketer and former India captain, Mahendra Singh Dhoni. The legendary cricketer will not only invest in Khatabook but also become its brand ambassador.

Dhoni’s decision to invest in Khatabook comes at a time when the firm has crossed 2 crore registered merchants on its app. The partnership is a natural fit between the company that has built immense trust and reliability among its fast-growing merchant base and a globally respected sportsperson with over a billion fans.

The firm has set aggressive growth targets for expansion across smaller towns and villages. Khatabook is aiming to onboard another 2 crore merchants over the next 12 months. The firm plans to use proceeds from the latest equity investment to expand its product portfolio and double down on its technology and capabilities. 

Talking about the new partnership, Ravish Naresh, co-founder and CEO Khatabook said, “We are thrilled to welcome Mahi to the Khatabook family. He embodies the spirit of true sportsmanship and entrepreneurship - the ability to adapt, evolve and be a leader, focusing on a larger cause beyond his success. These are the qualities that have made him one of the most-loved captains of Indian cricket. At Khatabook, we aspire to build the same level of trust, agility and reliability among our merchants and business partners and be a true partner to them in their journey. To us, 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.”

Commenting on this association, MS Dhoni said, “There are many new-age companies in the country, only a few like Khatabook, are making a difference at the grassroots level. Having grown up in small-town India, I saw friends and family struggle with outdated modes of doing business and tracking finances.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 outsized impact on the lives of India’s small merchants and retailers. I am very excited to join them at a crucial point in their journey, as they work towards achieving their goal of transforming the way India does business.”

Talking about the company's plans to amplify its market leadership through this association, Ved Prakash, VP Marketing, Khatabook said, "Khatabook's initial growth came organically and we currently have a market penetration of 25-30%. Now the idea is to drive trust and reliability at a large scale. This is why doing our brand campaign with Dhoni is a great fit. With this, we are poised at strengthening brand awareness, creating category and increasing penetration by 50-60%. We will now focus on deepening our relationship with the merchants by creating more use cases and cementing relatability with the brand."

Delighted about the association, Arun Pandey, Rhiti Sports CMD, said “Khatabook has revolutionized the ways mid and small scale merchants have been doing business in our country, particularly eliminating human errors in day to day accounting transactions. Khatabook and MS Dhoni represent change and are catalysts of transformation. This makes them a perfect fit.”

Today, merchants across 5000+ Indian cities use the Khatabook app. From Kirana stores to mobile recharge shops, garment dealers and jewelers, Khatabook serves over 500 types of businesses in India at present. It supports 11 languages and has recorded cash transactions worth over Rs. 3.7 lakh crore in the last one year. The app has also organically acquired merchants in Nepal, Pakistan and Bangladesh.

Having completely automated the traditional business ledger process in the country, the app is helping 2 crore Indian merchants each save over 700 productive working hours in a year.

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/02/25/mg.jpg?itok=9Dq6PyUO
MG marks another first; an all-women crew manufactures 50,000th Hector in Vadodara, Gujarat

In a development that comes as a testament to gender parity across workplaces, MG Motor India has manufactured its 50,000th MG Hector with an all-women crew in Gujarat’s Vadodara. The initiative has created a new benchmark while celebrating ‘Diversity’ – one of the core pillars of the automaker –...

MAM Marketing MAM
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/02/25/krll.jpg?itok=zXYu6D2g
Duff & Phelps unify company under Kroll brand

NEW DELHI: Duff & Phelps, the world’s premier provider of services and digital products related to governance, risk and transparency, today announced plans to transition the company name to Kroll. The new name and logo represent the firm’s rich history and breadth of services, delivering...

MAM Marketing MAM
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/02/25/prte.jpg?itok=VRR28fx6
TVS Motor Company appoints Timothy Prentice as VP – design

NEW DELHI: Leading automobile manufacturer TVS Motor Company has  appointed Timothy Prentice as vice-president - design to oversee design solutions for future mobility. Prentice is considered to be among the most acclaimed motorcycle designers globally with significant motorcycle design milestones...

MAM Media and Advertising People
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/02/25/ikea-800.jpg?itok=31LUKJlv
Ikea's ideal Indian family: One that shares the load at home

NEW DELHI: Swedish home furniture giant Ikea has pegged India as its next frontier of growth and is leaving no stone unturned to position itself as a viable and competitive alternative to the unorganised furniture businesses that are predominantly preferred by the masses. To this end, the brand has...

MAM Media and Advertising Ad Campaigns
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/02/24/sonu.jpg?itok=oILdgDci
Spice Money launches first national brand campaign

NEW DELHI: Rural fintech company Spice Money has rolled out its first mass brand campaign, Spice Money Toh Life Bani, featuring its brand ambassador and actor-humanitarian Sonu Sood. The campaign brings forth the company’s vision to financially and digitally empower a total of one crore rural...

MAM Media and Advertising Ad Campaigns
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/02/24/mirummm.jpg?itok=zf2B6Dt0
Mirum wins ORM & social listening duties for Sharekhan

NEW DELHI: Leading Indian broking house Sharekhan has appointed digital solutions agency Mirum as its social listening partner. As part of the mandate, Mirum will provide end-to-end ORM services to Sharekhan. The account will be serviced from Mirum’s Mumbai office.

MAM Marketing MAM
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/02/24/rajiv.jpg?itok=bW49Orvy
Milagrow Robots introduces the ‘better half’ that does all your chores

New Delhi: Leading robotic brand Milagrow has launched a new video campaign that highlights its objective to build a future with lesser human intervention to do daily chores.

MAM Media and Advertising Ad Campaigns
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/02/24/edd.jpg?itok=FgZkiY5H
EdTech Brand- RoboGenius rebrands itself with new look

Having been around for 15 years, RoboGenius has a well established reputation in the field of teaching robotics and A.I. for kids. For so many years, they have been working towards giving young minds the hands on experience they need, to build a holistic knowledge designed to give them an advantage...

MAM Marketing MAM
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/02/24/gro.jpg?itok=nWsVFZAQ
Grofers eyes SPAC route for Nasdaq listing

NEW DELHI: E-grocery platform Grofers had indicated as recently as last month that it plans to expand beyond delivering your daily staples and into an all-encompassing e-commerce portal along the lines of Amazon and Flipkart. To this end, it opened sections like fashion and lifestyle; home...

MAM Marketing Brands

Sign up for our Newsletter

subscribe for latest stories

* indicates required