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<ul><li>This is <keyword id="7598194" type="UNKNOWN" weightage="20" keywordseo="khatabook">Khatabook</keyword>’s first strategic acquisition. </li><li>The company hopes that it will offer value-added services to its 10 million customer base and will drive monetisation.</li><li>Biz Analyst, launched in 2016, helps small and medium businesses to automate their daily business operations.</li></ul>Indian digital ledger startup Khatabook has acquired SaaS (software-as-a-service) business management app Biz Analyst in a $10 million (₹72.6 crore ) cash and equity deal. This is Khatabook’s first strategic acquisition. The three-year old company hopes that it will offer premium value-added services to its 10 million customer base and will drive monetization. Biz Analyst, launched in 2016, helps small and medium businesses to automate their daily business operations and make data-driven decisions to manage sales, inventory, outstandings and productivity. It claims to have over 80,000 users and will continue to operate as a separate brand under Khatabook. Biz Analyst also claims to be cash flow positive. The company’s founders Vaibhav Vasa, Mehul Sutariya, and Nilesh Zaveri will join Khatabook’s leadership team. “The features and strengths that Biz Analyst offers are the perfect extension to our present business portfolio. The acquisition is a step forward for Khatabook in its mission to provide business efficiency to India’s MSMEs through value-added services,” said Ravish Naresh, chief executive and co-founder of Khatabook, in a statement. Khatabook last raised funding in May 2020 from new and existing investors including Sequoia India, Partners of DST Global, Tencent, GGV, RTP Global, Hummingbird Ventures, Falcon Edge Capital, Rocketship.vc and Unilever Ventures. Earlier in March 2020, former Indian cricket team captain Mahendra Singh Dhoni had invested an undisclosed amount in the startup and is also the brand ambassador for the company. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/whatsapp-faces-a-fresh-antitrust-investigation-in-india-over-its-new-privacy-policy-that-shares-users-data-with-facebook/articleshow/81673084.cms">WhatsApp faces a fresh antitrust investigation in India over its new privacy policy that shares users’ data with Facebook</a> <a href="https://www.businessinsider.in/business/startups/news/dream11-parent-co-raises-400-million-from-netflix-airbnb-investor-valuation-doubles-to-5-billion/articleshow/81670310.cms">Dream11 parent co raises $400 million from Netflix, Airbnb investor – valuation doubles to $5 billion</a>

Khatabook acquires SaaS business management app Biz Analyst for $10 million

<ul><li>Khatabook has raised $100 million in its Series C round led by Tribe Capital and Moore Strategic Ventures (MSV).</li><li>Overall, the company’s merchants network manage more than 264 million users across India.</li><li>The company will use this funding to introduce new offerings for the merchants and hire across verticals.</li><li>The company had reported no revenue with a loss of ₹126 crore in the financial year 2020, as per Tofler.</li></ul>Bookkeeping app Khatabook’s valuation has touched $600 million even though the company is still in a pre-revenue phase. The company had reported no revenue with a loss of ₹126 crore in the financial year (FY) 2020, as per data platform Tofler. Khatabook’s financial statement for FY21 is not yet publicly available. A major reason for the company’s skyhigh valuation seems to be its penetration in the Indian small and medium businesses (SMB) market, which does not have much internet penetration. The company claims to have over 10 million monthly active merchants registered on the platform. Overall, its merchants manage more than 264 million customers. About 95% of the Indian districts are represented on its app, as per the company. The company, on Tuesday, said that it has raised $100 million in its Series C round led by Tribe Capital and Moore Strategic Ventures (MSV). Alkeon Capital also participated in the round, along with existing investors B Capital Group, Sequoia Capital, Tencent, RTP Ventures, Unilever Ventures, and Better Capital. Former and current partners of Andreessen Horowitz, Balaji Srinivasan and Sriram Krishnan, also infused an undisclosed amount in the Bengaluru-based startup. The latest round would allow Khatabook to strengthen its talent base and hire across multiple roles like engineering, product, design, analytics and data science functions. The company currently employs 200 individuals. A part of the funding will also be used to launch several new financial services for its merchant partners, the company said in a press note. Khatabook further added that it would also buy back $10 million worth of employee stock ownership plan (ESOP) shares to reward current and former employees of the company. Eligible employees will be able to sell as much as 30% of their vested options, the company said. It has also expanded its ESOP pool to $50 million. Khatabook was originally founded by Vaibhav Kalpe in 2016. The company was later acquired by Kyte Technology — founded by Ravish Naresh, Jaideep Poonia, Dhanesh Kumar and Ashish Sonone — in 2019, with Kalpe joining the company. The company enables small and medium enterprises (SMEs) to record and track business transactions. Khatabook helps small shopkeepers and kirana store owners in India manage their account by keeping track of the money owed to them through digital ledger. It also offers several features to make collection of money earlier through the use of technology. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/swiggy-sharechat-byjus-lead-the-funding-race-as-indian-startups-raised-6-5-billion-between-april-and-june/articleshow/85583697.cms">Swiggy, ShareChat, Byju’s lead the funding race as Indian startups raised $6.5 billion between April and June </a><a href="https://www.businessinsider.in/retail/news/ikea-products-would-now-be-even-cheaper-in-india/articleshow/85585775.cms">Ikea products would now be even cheaper in India</a>

Khatabook’s valuation touches $600 million with zero revenue to show

<ul><li>These <keyword id="10993707" type="General" weightage="20" keywordseo="Ecommerce-startups" source="Orion">ecommerce startups</keyword> have raised over $135 million since August 2021.</li><li><keyword id="7598194" type="General" weightage="20" keywordseo="khatabook" source="Orion">Khatabook</keyword> alone has raised $100 million in the last one month.</li><li>India is home to 60 million small and medium businesses (SMBs).</li></ul>It was the year 2019, when India’s richest man Mukesh Ambani declared that he would connect 13 million kirana stores —the Indian word for mom and pop stores — with his tech platform JioPlatforms. Amazon and Flipkart have been on hot pursuit of these neighbourhood stores for at least half a decade. However, for quite some time before that, a bunch of young startups like <keyword id="1249046" type="General" weightage="20" keywordseo="dukaan" source="Orion">Dukaan</keyword> and Khatabook have been preparing the ground for these big tech giants to make a big splash. These enablers are getting their due from venture capitalists (VCs) now. These <keyword id="436047" type="General" weightage="20" keywordseo="ecommerce" source="Orion">ecommerce</keyword> startups have raised over $135 million since August 2021. Key deals include: <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Launched In </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">What does it do? </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recent Funding </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Merchants </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Khatabook </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2017 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Originally a bookkeeping app. Ventured into the ecommerce enablement space in 2020 with MyStore. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$100 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tribe Capital, Moore Strategic Ventures (MSV), Alkeon Capital </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10 million monthly active users </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dukaan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2020` </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Enables kirana stores to set up their online store </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$11 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">640 Oxford Ventures, OYO’s Ritesh Agarwal and Nothing CEO Carl Pei </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.5 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bikayi </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2019 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Helps small businesses set up a digital store </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$10.8 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sequoia Capital India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ping </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aggregates all the local commerce message groups on the app and allows customers to discover new stores. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$3.5 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Elevation Capital, </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">400 active residential communities </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ApnaKlub </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wholesale platform for small sellers and retailers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$3.5 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sequoia Capital India’s accelerator programme Surge. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5,000 wholesale partners </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kirana247 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wholesale distributor of consumer goods for small businesses. It optimises warehousing using ML and AI. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Undisclosed </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5000 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Other major businesses in this segment include OkShop and MyStore. “The recent rounds in September are indicative of growing interest from investors in this segment,” Madhur Singhal, managing partner and chief executive at Praxis Global Alliance told Business Insider. He noted that Google and PayU’s investment in online-to-offline commerce platform DotPe further substantiate this claim. Devendra Agrawal, founder of investment bank Dexter Capital echoed the same sentiment, highlighting that while offline retailers have been severely impacted by the pandemic, online retail received a huge boost. “To compete with online retailers, offline retailers have started adopting solutions offered by ‘Dukan Tech’ startups at an unprecedented rate,” he said. India is home to 60 million SMEs and 13-14 million kirana stores, which employ over 130 million people. “Clearly, it is an extremely vast market and provides great opportunities for digital solutions,” he added. But what are the challenges ahead of these companies? According to Singhal, finding the right product market fit for these startups is going to be extremely challenging for these startups as they have a diverse mix of customers in terms of region, scale and vertical of operations. “Another challenge would be the monetisation aspect. Given the free adoption and availability of Dukan Tech solutions, it would be crucial for these start-ups to figure out what percentage of their merchant base become paid users,” Agrawal added. Sequoia-backed Khatabook is facing similar challenges when it comes to monetisation. The company, valued at $600 million due to its size and scale, is currently in a pre-revenue stage. The company is currently piloting some monetisation engine, according to sources within the company. But the biggest challenge remains the emergence of big tech companies in the segment. Agrawal told Business Insider that any segment where customers are interacting on a daily basis always has the potential for big players jumping in. The question, however, remains how and when they do it. They can either enter organically or follow Walmart’s approach and acquire another company, he added. However, he emphasised that companies that have figured out their business model and are raising capital will be able to survive. “But another thing to keep in mind is that the current dukan tech companies are in the customer acquisition phase. They need to figure out the business model and monetisation engines,” Agrawal added. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/shree-cement-zee-entertainment-telecom-and-other-top-stocks-to-watch-out-for-on-september-15/slidelist/86219264.cms" data-type="tilCustomLink">Shree Cement, Zee Entertainment, telecom and other top stocks to watch out for on September 15</a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-iphone-13-series-ipad-ipad-mini-and-watch-series-7-announced-indian-pricing-availability-and-features/articleshow/86213320.cms" data-type="tilCustomLink">Apple iPhone 13 series, iPad, iPad mini and Watch Series 7 announced – Indian pricing, availability and features</a> <a href="https://www.businessinsider.in/tech/news/apple-unveiled-its-new-399-watch-series-7-that-lets-you-text-from-a-keyboard-on-your-wrist-and-can-detect-if-you-fall-off-your-bike/articleshow/86211383.cms">Apple unveiled its new $399 Watch Series 7 that lets you text from a keyboard on your wrist and can detect if you fall off your bike</a>

Long before Mukesh Ambani set his eyes on the millions of mom-n-pop stores, a bunch of e-commerce startups were preparing the ground ⁠— they are now getting their due

<ul><li>BFSI brands are getting creative on new-age platforms like <keyword id="6762469" type="UNKNOWN" weightage="20" keywordseo="TikTok">TikTok</keyword>, to stay connected with the younger audience.</li><li>Brands like <keyword id="7598194" type="PERSON" weightage="20" keywordseo="khatabook">Khatabook</keyword>, <keyword id="103837" type="PERSON" weightage="20" keywordseo="Angel-Broking">Angel Broking</keyword> and <keyword id="3007265" type="PERSON" weightage="20" keywordseo="Money-View">Money View</keyword> have been using the platform smartly, to ensure they are present where their young consumers are.</li></ul>Millennials and Gen Z are some of the most sought after consumers for most brands today and they are not an easy set of audience to crack. These young consumers are going to be big future spenders and therefore it is imperative for brands to try and become a part of their lives. The Banking, financial services and insurance (BFSI) has slowly been upping its spend in advertising. A recent report titled ‘The era of consumer A.R.T.’ by FICCI-EY stated that BFSI accounted for 4% of the total advertising pie in 2019. A lot of brands are putting a lot of their monies on various digital platforms, and understandably, because that’s where the consumer is. A lot of BFSI brands have therefore left no stone unturned to make sure they endear themselves to this younger set of audience, and the easiest way of doing it is by expanding their presence on new-age platforms that are used by them. We recently noticed a few BFSI brands think out of the box and get innovative on TikTok. For Bangalore-based startup, Khatabook, the aim of utilizing a platform like TikTok was to reach out to and engage with a relevant target audience and ensure that there’s a surge in its app downloads. Ved Prakash Yadav, Vice-President, Khatabook said that’s exactly what its campaign on TikTok helped them do. “Our focus has been to build financial solutions for a billion Indians. In order to achieve that, we have been investing in credible partners to help us build that capacity in our journey to fulfill this goal. TikTok has been an excellent growth partner, who has helped us reach our relevant target audience and scale our app downloads in a very short period. By using lookalike audience and experimenting with campaign bidding strategies, we have been able to acquire users effectively at a low CPI. We hope to implement for our learning for continued growth on TikTok,” he said. With the advent of social media, it has been increasingly difficult for brands to hold the audience’s attention. However, a story told on a platform in a language that the younger audience understands is a clever way of ensuring that people listen to you. Speaking about why TikTok as a platform worked for the brand, Prabhakar Tiwari, CMO, Angel Broking said, “The millennials are on rise and are looking for their financial independence. More and more urban and rural audiences, now equipped with the power of mobile data are getting themselves accustomed to new ways of the world. Video viewing is preferred more than any other form of medium by users on the internet. With TikTok we found that their diverse user base, both geographically and linguistically, helps us reach our audience across cities. Creator-led content during our Smart Sauda campaign on TikTok helped us scale-up our campaigns with an approach to reach out to a wider audience quickly. Being amongst the first Stock Broking companies, we benefit from the first mover advantage. The Jhoom Utho and Smart Sauda Campaign on the platform gave us positive results and lots of learning about genres, formats and influencer led content for these platforms.” Another Bengaluru-based financial services company that used TikTok and witnessed a growth in its customer base was Money View. Throwing light on how investing on the platform helped the company, <keyword id="761955" type="PERSON" weightage="20" keywordseo="Nikhil-Arora">Nikhil Arora</keyword>, Head of Marketing, Money View said, “We have received an incredible response from the TikTok community in a short span. Our focus was to highlight the convenience and benefits of using the Money View Loans app. Our partnership has significantly contributed to our customer growth and has created a healthier lead generation ecosystem. Using lookalike audiences has helped us broaden our scales with lower acquisition cost.” Speaking about why BFSI brands are finding value in using TikTok for their brand campaigns, <keyword id="224926" type="PERSON" weightage="20" keywordseo="Sameer-Singh">Sameer Singh</keyword>, Vice-President, Monetization, TikTok India said, “TikTok’s diverse demographics are attracting a slew of brands from across categories, including BFSI. Apart from the opportunity to engage with 200 million users on the platform, TikTok offers a whole new way to engage with Gen-Z and millennial consumers as BFSI brands look to embrace newer digital touchpoints. In the last few months, we have successfully partnered with brands ranging from banks, financial service providers, fintech to digital banking platforms - enabling them to implement creative content marketing campaigns with our tailor-made and unique ad solutions."

Here’s how BFSI brands are getting creative on TikTok and reaping results

<ul><li>Poonawalla has rented out a mansion in Mayfair, London from Polish billionaire Dominika Kulczyk.</li><li>His new neighbours would be billionaires from around the world – a Chinese heiress, businessman John Caudwell who owns the phone retail company Phones 4u.</li><li>But there’s more to Mayfair’s history.</li></ul><keyword id="383467" type="PERSON" weightage="20" keywordseo="Adar-Poonawalla">Adar Poonawalla</keyword> is a busy man, after all he’s the man behind Serum Institute of India (SII) -- the largest vaccine manufacturer in the world that has most recently made the Oxford-Astrazeneca COVID-19 vaccine. Poonawalla, who belongs to one of India’s richest families, has a new address. Poonawalla has reportedly <a href="https://www.bloombergquint.com/business/ceo-rents-london-mansion-for-69-000-a-week-in-mayfair-record">rented out</a> a mansion in Mayfair, one of the most expensive residential areas in the world. Mayfair is in the city of Westminster, which falls within the greater London area. Poonawalla is shelling out $69,000 or just over ₹50 lakh as rent per week for his new house. Poonawalla is renting the property from Polish billionaire Dominika Kulczyk. The home is one of the biggest in the district and spreads across 25,000 square feet – which is <a href="https://www.ndtv.com/india-news/adar-poonawalla-rents-uk-mansion-for-69-000-a-week-report-2398321">reportedly </a>as much as 24 average homes, put together, in the UK. Poonawalla, who is an alumnus of the University of Westminster, has often referred to London as his second home. The billionaire’s rental in London comes at a time when the city’s real estate is recovering fast after the COVID-19 induced lull. According to real estate consulting firm Knight Frank, the total number of prospective buyers who are looking at over £10 million properties had doubled by January 2021, as compared to the year before. His new neighbours would be billionaires from around the world – a <a href="https://www.dailymail.co.uk/femail/article-9290657/Chinese-heiress-24-rents-five-bedroom-Mayfair-townhouse-record-breaking-130-000-MONTH.html">Chinese</a> heiress, businessman John Caudwell, who owns the phone retail company Phones 4u, among others. <cmsannotation type="cmsannotation" annotationid="Home to history" comment="subhead" text="Home to history">Home to history</cmsannotation> Poonawalla’s new Mayfair home also houses historic significance. The area is home to British royalty, dukes and duchesses. In fact, according to reports, of the 227 houses built in the area, hundreds of years ago, 117 belonged to those who had titles. The area also has some of the most <a href="https://www.thesun.co.uk/news/12391019/britains-most-expensive-homes-250m-mayfair-mega-mansion/">expensive homes</a> in Britain. Mayfair also houses the first bachelor pad of Britain’s former Prime Minister Winston Churchill. It was there that Churchill laid the foundation of his political career and was also the place where he wrote his first book Ian Hamilton’s March. So, of course, Mayfair properties don’t come cheap. As per Knight Frank, houses in Mayfair was sold for an average of £7.3 million in 2020. And for Poonawalla this isn’t the first historic or major real estate splurge. Poonawalla, who already owns some of the biggest and luxurious homes in India, had also <a href="https://qz.com/india/501268/record-breaking-sale-a-billionaire-has-bought-the-former-us-consulate-in-mumbai-for-113-million/">made news</a> in 2015 when he bought out the Mumbai mansion, which was once the address for the US consulate. He had paid a whopping $113 million for the home. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/khatabook-acquires-saas-business-management-app-biz-analyst-for-10-million/articleshow/81683288.cms">Khatabook acquires SaaS business management app Biz Analyst for $10 million</a>

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Khatabook acquires SaaS business management app Biz Analyst for $10 million

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Here’s how BFSI brands are getting creative on TikTok and reaping results

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India’s vaccine king Adar Poonawalla will pay $69,000 a week to live on the same neighbourhood as Winston Churchill once did

BI India Bureau

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