# Chqbook

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/chqbook

- Industry: Internet
- Headquarters: Gurugram, India
- Website: www.chqbook.com
- Total disclosed funding: $10M
- Latest round: Series A (Oct 13, 2021)
- Investors on record: 5

## About

Chqbook is a financial services company based in India, specializing in providing tailored banking solutions for small and medium enterprises. Their offerings enhance financial management and accessibility for businesses.Founded in 2017 and headquartered in Gurugram, India, Chqbook operates as a financial services provider for small and medium enterprises. The company was established by Mohit Goel, Rajat Kumar, and Vipul Sharma, with Vipul Sharma serving as the CEO. Chqbook has successfully raised a total of INR 9.600 mn through its latest funding round, the SERIES B, which was backed by Trifecta Venture. This funding marks a significant milestone for the company, aligning with their growth trajectory. Chqbook has executed a total of 8 deals to date, and its current valuation stands at INR 2002.860 mn.Chqbook offers a comprehensive suite of financial services tailored specifically for small and medium enterprises (SMEs) in India. Their core offerings include a Zero Balance Current Account, Chqbook Vyapaar Business Loans, and various insurance products covering health, motor, life, and shop insurance. The current account facilitates seamless banking without the burden of minimum balance requirements, appealing to the cash flow dynamics of small businesses. Chqbook Vyapaar Business Loans provide necessary financing for SMEs to support their growth and operational needs. Additionally, the platform features Chqbook Khata, simplifying credit and debit tracking for businesses while enabling suppliers to manage orders efficiently. Chqbook serves a diverse clientele comprising over 63 million small businesses in India, addressing their unique financial challenges.In the most recent year, Chqbook reported a revenue of INR 1,605,634.5, while also experiencing an EBITDA of -INR 2,286,103.8. The company generates revenue through a multifaceted transaction structure, focusing on financial service fees and interest income from its lending products. Chqbook Vyapaar Business Loans generate interest based on the loan amounts disbursed to SMEs, establishing a consistent revenue stream linked to the growth and financial health of its clients. Additionally, revenue is supplemented by transaction fees from managing Zero Balance Current Accounts and commissions from insurance products, creating a B2B revenue model that fosters long-term partnerships within the SME sector.Chqbook is actively seeking to expand its product offerings and geographical reach. The company plans to introduce new financial products tailored to emerging market needs. Additionally, it aims to extend its services into new regions, with specific targets identified for expansion over the next two years. Recent funding from Sarcha Advisors will support these initiatives, facilitating product development and market entry strategies.

## Funding rounds

- Series A, Oct 13, 2021, $5.5M — Aavishkaar Capital, InnoVen Capital, Earlsfield Capital, Allana Group, Rajiv Dadlani Group
- Series A, Feb 25, 2020, $4.8M — Aavishkaar Capital

## Investors

- Aavishkaar Capital (https://capitalatlas.ai/funds/aavishkaar-capital) — Series A
- InnoVen Capital — Series A
- Earlsfield Capital (https://capitalatlas.ai/funds/earlsfield-capital) — Series A
- Allana Group — Series A
- Rajiv Dadlani Group — Series A