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Accounting app for fintech startup mKhata hits 100,000 installs in just one month

mKhata, an accounting application launched just over a month ago by a fintech startup in Lahore, has already reached 100,000 installations from cities and towns in Pakistan. After launch, the app attracted widespread attention: thousands of daily active users and positive customer reviews.

As a free bilingual accounting application, mKhata aims to help the MSME (micro, small and medium-sized enterprises) sector digitize accounting and credit management. Most local corner stores (kiryana) provide credit to buyers in the neighborhood, which is either written down on paper or not registered at all. With 60,000 active merchants in Pakistan currently, mKhata is committed to digitizing these transactions by helping small businesses register and maintain their customers’ credit history.

Founder and CEO of mKhata Umayr Sheikh, speaking about the rapid distribution of the app, said: “Our MSMEs have become much more welcoming to technological disruptions following the Covid-19 coronavirus. They have demonstrated remarkable resilience, and their willingness to test and implement new technologies has accelerated the success of mKhata and the digital app market. In this way, technological innovation and digitization are affecting the business landscape as well as how they will work in the future. “

Talking about plans for the future of the app, Umair clarifies: “The market has become very lucrative and full of opportunities, and more and more players, merchants and consumers are joining it. Our fast growing team is constantly on the lookout to explore unused segments of this space and help move it forward. ”

The mKhata app includes automatic collection reminders, free SMS transaction alerts, detailed reports and online backups among other features. It’s free and can be downloaded from both the Google Play Store and the App Store.

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