Mahendra Singh Dhoni, international cricketer and former captain of Indian cricket team, has inked a strategic partnership with fintech start-up Khatabook.
Dhoni 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 start-up has surpassed 2 crore registered merchants on its app.
Besides, the firm has set an aggressive growth targets for expansion across smaller towns and villages. Khatabook is targeting to onboard another 2 crore merchants over the next 12 months.
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.”
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 Having grown up in small-town India, I saw friends and family struggle with outdated modes of doing business and tracking finances.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.”
Ved Prakash, VP Marketing, Khatabook said, “Khatabook’s initial growth came organically and we currently have a market penetration of 25-30 percent. 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 percent. We will now focus on deepening our relationship with the merchants by creating more use cases and cementing relatability with the brand.”
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