KARACHI – mKhata, a bookkeeping app launched just over a month ago by Lahore based fintech startup has already hit 100,000 installs from cities and towns across Pakistan. Following its launch, the app garnered widespread attention, with thousands of daily active users and positive reviews by its customers.
As a free, bilingual bookkeeping app, mKhata aims to help the MSME (Micro, Small and Medium Enterprises) sector digitize their bookkeeping and credit management. Most local corner (kiryana) stores extend credit to customers in their neighborhood, which is either recorded on paper or not recorded at all. With its current 60,000 active merchants across Pakistan, mKhata aims to digitize these transactions helping small businesses record and maintain credit history for their customers.
The founder and CEO of mKhata, Umair Sheikh, talking about the app’s rapid adoption said, “Our MSMEs have become much more welcoming towards technological disruptions after Covid-19. They have displayed remarkable resilience, and their willingness to experience and adopt new technology has accelerated the success of mKhata and digital apps market. Thus, technology-led innovation and digitization is impacting the business landscape as well as how they are going to operate in future”
Speaking about the app’s future plans, Umair elaborates, “The market has become very lucrative and is brimming with opportunities, with more and more players, merchants and consumers coming on-board. Our rapidly-growing team is on constant lookout to explore untapped segments of this space and help propel it forward”
The mKhata app comes with automated collection reminders, free SMS transaction alerts, detailed reports, and online backups among other features. It is free and can be downloaded from both Google Play Store and App Store.
About mKhata
mKhata is a fintech startup that offers digitization services to the MSME (Micro, Small and Medium Enterprises) sector. Launched in August 2021, the startup allows MSME to increase their ROI through complete digital transformation, and also helps document the financially excluded, so they too can have access to basic financial services. The company’s flagship product, mKhata, is a free credit management application that helps MSMEs avoid disputed transactions and bad debt, while allowing them to increase their recovery rate and cash flows.
