Chqbook Launches Suite of Services for Small Merchants

Chqbook, a fintech startup has launched digital ledger, lending, insurance services for small merchants. Notably, several small business owners depend on manual logs to record their daily transactions. Some do not even hold a bank account; hence, they don't even have any credit access.

Chqbook (1), a fintech startup that focuses on small business owners like merchants, kiranas, and chemists, has launched several services. It includes a current account for daily transactions, short and long-term business mortgages, and insurance products.

The Gurugram-based fintech startup will render these features on its new mobile app. The firm is targeting a market that has more than 60 million small business merchants with a smartphone. Many of these small business owners still depend on manual logs to register their daily transactions while some of them do not even hold a bank account; hence, they don’t even have any credit access.  

Chqbook focuses on addressing this gap by opening current accounts and offering financial products, including insurance and credit access, to bring small business owners to the formal economy.


Chqbook Draws All the Financial Transactions Needs of A Small Merchant in One Place

The fintech startup has launched a free online bookkeeping feature. It is called ‘Chqbook Khata’ that would easily support small business owners in managing supplies and orders in one place. With the launch, Chqbook marks its entry on the growing number of startups in the online ledger niche. OkCredit, backed by Tiger Global, Khatabook of Sequoia, is also part of the space. 

After launching its new smartphone app today, Chqbook is now eying to expand its business over 50 cities across India. The firm is planning to increase its customer base to 1 million in 2020. The 3-year-old firm already has over 300K customers from the top 25 cities of India. Every month, the platform is on-boarding more than 25,000 customers for several products and services that caters to small merchants. 

The mobile app of Chqbook draws all the financial transactions that a small business owner needs to handle at his fingertips. The app offers all daily transactions in one place. Hence, it is easy to access small business owners, enabling them to focus on running and growing their businesses, stated Vipul Sharma, the Chqbook founder and CEO.

+ posts

Rucha Joshi is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student. She's currently working as a content writer and is always interested in a challenge.

Disclaimer: The views, thoughts, and opinions expressed in the article have been curated for our audience and does not warrant a 100% accuracy. All the information mentioned in the article is subject to change according to the changing viewpoints. Feel free to reach us at [email protected] for any change or copyright issues.

Note: If you buy something via a link on this page, we might earn a small commission on it.

Rucha Joshi
Rucha Joshi
Rucha Joshi is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student. She's currently working as a content writer and is always interested in a challenge.

Leave A Reply

Please enter your comment!
Please enter your name here

related stories

Ola Electric announced the acquisition of Etergo BV. Ola Electric has also announced its entrance into the premium electric two-wheeler market

Is Etergo’s acquisition brewing trouble for Investors?

Ola Electric Mobility Pvt Ltd had announced (1) the acquisition of Etergo, the Amsterdam-based electric scooters company. Ola Electric aims to leverage the design and...
From a website that only offered menu details to a full-fledged food ordering app, Zomato's rise has been rocking the birth of a new industry.

Zomato Revolutionizing the Food Industry

Beginning something like Zomato was out of an experience. One fine morning, Pankaj Chaddah and Deepindar Goyal were in Delhi's office when they saw...
The Indin government had warned Amazon and Flipkart to comply with the new rules and specify the product's country of origin, Amazon was also penalized.

The ‘Country of Origin Rule’ and Why it Matters to India?

India's government has fined ecommerce giant Amazon 25,000 INR for not displaying mandatory information, including the country of origin for its products (1). Last...
Stripe, one of the world's leading digital payment players, will soon penetrate Southeast Asia and India to expand its overseas activities.

Is Stripe’s entry to e-commerce Asia a bet on risk or return?

The entry of global players such as PayPal, Payoneer, and now Stripe in the Asia Pacific region validates the increasing market opportunity and evolving...
Paytm is also on its path to become a super app and give its users an all-in-one experience by offering a bundle of services.

Paytm Paving into a Super App, Expand its Service Offering

Paytm has pulled another conquest when the marketing reckon that it would take a kickback. Earlier, when there was buzz that Paytm is venturing...
The recent discussion now involves a massive data leak that put the information of students, teachers, and much more in crisis for WhiteHatJr.

WhiteHatJr Data Leak Controversy: Unfolded

Not too long ago, a live online coding platform for children, White Hat Jr., scripted a dream escape for itself. Byju's, the poster boy...
The story of Ashok Varma could be deemed as the most praiseworthy and controversial story of an ideal mind whose focus was to shift the market.

Meticulous and determined till the end: the story of Ashok Varma

Our world has been most captivated by the ideas of extreme players who took the world by storm, some who pulled the stock market...
It has been understood that Google, has been in talks or is in a state of mind to acquire Sharechat, the Indian social media platform.

Is Google taking the right measures to acquire Sharechat?

Sharechat has been India's go-to to engage in a short video and take a peek or have fun after the ban of the international...