RAVISH NARESH STORY | FOUNDER OF KHATABOOK

Ravish Naresh Story is a journey of innovation, digital empowerment, and transforming the way small businesses manage their finances. In 2018, Ravish founded Khatabook in Bengaluru, India, with the mission to simplify bookkeeping for entrepreneurs. By creating a mobile-first platform, Khatabook allows small business owners to track transactions, manage payments, and monitor cash flow easily. Today, Khatabook serves millions of users across India, empowering small business owners to run their operations efficiently and access digital financial tools that were once out of reach. Ravish’s story is a testament to how solving real-world problems with technology can make a massive impact.

Basic Details

PERSONAL STORY: RAVISH NARESH

Ravish Naresh was born and raised in a family of small business owners, which gave him firsthand insight into the struggles of managing finances without proper tools. This early exposure to the challenges faced by entrepreneurs sparked Ravish’s passion for technology and entrepreneurship. After completing his engineering degree from IIT Roorkee, Ravish worked at leading tech companies in the US. However, he always felt a pull to return to India and build something that could positively impact the lives of everyday people.

His desire to solve real problems led him to co-found Khatabook in 2018, alongside his co-founder Nikhil Kumar. The vision was clear: create a digital platform that would help small business owners, particularly kirana shops, keep track of transactions and outstanding payments with ease. However, getting the product off the ground wasn’t smooth. They faced challenges in convincing small business owners to trust digital solutions. But Ravish’s perseverance paid off when the platform began to gain traction, with users finding real value in the simplicity of the app.

As Khatabook continued to grow, Ravish and his team faced various personal and professional hurdles. But every challenge brought an opportunity for growth, and Ravish learned that success lies in understanding your audience deeply and building solutions that genuinely cater to their needs.

FOUNDING STORY: KHATABOOK

The idea for Khatabook originated from a real-world problem: small business owners in India struggled to manage their credit and debit transactions manually. Ravish Naresh, who had worked closely with small businesses, realized that many entrepreneurs still relied on paper records to manage their accounts, leading to frequent errors and financial chaos.

In 2018, Ravish and Nikhil launched Khatabook as a simple, mobile-first solution to digitize bookkeeping for small businesses. They initially bootstrapped the project, focusing on building a product that was intuitive and easy to use for shopkeepers with minimal tech knowledge. The first few months were difficult, with limited resources and no clear path to funding. However, the app started gaining users after it proved its worth by simplifying financial management.

One of the early breakthroughs came when they introduced the feature of SMS reminders for overdue payments, which helped users stay on top of their transactions. Soon, the app became popular among small businesses in India, particularly in rural areas where traditional banking services were limited. This success was the turning point that helped Khatabook secure its first round of funding.

Despite early setbacks, Ravish and his team remained focused on their mission: making financial management simple and accessible for millions of small business owners. Their key lesson—keeping the user experience at the center—helped Khatabook grow into a fintech leader in India.

COMPANY PROFILE: KHATABOOK

Khatabook is a fintech platform that helps small businesses manage their financial transactions digitally. It was founded in 2018 with the goal of simplifying bookkeeping and making financial management more accessible for India’s millions of small entrepreneurs.

Services / Products Offered:

• Khatabook App: A simple, easy-to-use platform for tracking debts, credits, and transactions.
• Khatabook Payments: A payment gateway integrated with the app to help businesses collect payments digitally.
• Khatabook Dashboard: Provides business owners with insights into cash flow, payments, and outstanding dues.
• Business Loans: Partners with financial institutions to offer loans to small businesses based on transaction history.

Business Model:
Khatabook operates on a B2B model, providing small businesses with the tools they need to manage their finances. The app is free to use, but the company generates revenue through premium services such as digital payments, financial products, and partnerships with financial institutions.

Revenue Model:

• Premium subscription for advanced features.
• Fees from payment processing and digital transactions.
• Revenue-sharing models with financial institutions for lending services.

Market Landscape:
The Indian fintech market has seen rapid growth, driven by increased smartphone penetration and a rising digital economy. Players like PhonePe, Paytm, and Razorpay are leading the market, but Khatabook differentiates itself by targeting micro-businesses and providing a simple, user-friendly solution.

Unique Selling Proposition (USP):

• Tailored for small business owners with no prior financial knowledge.
• Easy-to-use interface and SMS-based reminders.
• Provides an entire digital financial ecosystem, from transaction tracking to payments and loans.

Funding and Investment:

• 2019: Raised $25M in Series A funding from Sequoia Capital and Bessemer Venture Partners.
• 2021: Secured $60M in Series B funding from Tiger Global and Insight Partners.
• 2025: Reached a valuation of $600 million.

Growth Highlights:

• 2018: Khatabook launched.
• 2020: Crossed 10 million users.
• 2021: Expanded to offer digital payments and loans.
• 2022: Reached 15 million active users.
• 2025: Became one of India’s leading fintech platforms for small businesses.

Team Size & Culture:
Khatabook employs over 500 people and is known for its fast-paced and collaborative culture. The company thrives on innovation and encourages creative solutions to everyday challenges faced by small business owners.

Mission & Vision:
Mission: To empower small business owners by providing simple, accessible digital financial tools.
Vision: To be the leading fintech platform for micro-businesses in India and beyond, fostering financial inclusion.

Awards and Achievements:

• Recognized as one of India’s fastest-growing fintech startups.
• Featured in Forbes India’s list of “Top 30 under 30.”
• Awarded “Best Fintech App” by IAMAI.

Future Plans:

• Expanding beyond India to other emerging markets.
• Enhancing AI-driven financial insights for business owners.
• Developing more inclusive loan products for small businesses.

FOUNDER GUIDE

“Building Khatabook wasn’t just about creating an app; it was about solving real problems for real people. When you focus on the user and their needs, success follows.”
— Ravish Naresh, Founder & CEO, Khatabook

Founder Advice for Entrepreneurs:

• Start by solving a problem that you truly understand.
• Don’t be afraid to fail—every failure is a lesson.
• Focus on building trust with your users, and the rest will follow.
• Keep your product simple and user-friendly—complicated solutions don’t always win.

WHAT WE LEARN FROM THE STORY

Ravish Naresh journey with Khatabook teaches us that solving real-world problems with simplicity and empathy is the key to building a successful business. His story reminds us that deep user understanding, persistence, and adaptability are essential for overcoming challenges and achieving growth.