OkCredit to Create Digital Ecosystem for SMEs
SME World|March 2021
OkCredit is a digital book-keeping solution for small business miners and their customers to enable the recording of credit/payment transactions digitally across the country. The app also sends timely reminders making it easier for merchants to collect and settle balance amounts quickly. Addressing the gaps and challenges faced by small businesses and local retailers. OkCredit is committed to create a network of apps/ solutions to empower the SMBs in India.
OkCredit to Create Digital Ecosystem for SMEs

OkCredit is a part of the Ok network- an ecosystem of apps aimed at digitizing small and medium businesses (SMBs) across India. With technology that is simple and easy to access, OK is solving various pain points in everyday functioning of small business owners, be it tracking their accounts, managing staff at their set-up or the need to go online. Ok network's first productOkCredit was launched in 2017 by Harsh Pokharna, Gaurav Kumar and Aditya Prasad, all three of them being batchmates at IIT Kanpur. OkCredit has given a complete digital makeover to the traditional register book - 'Bahi/Udhar Khata' and made the daily bookkeeping task simpler and effective for millions of small businesses.

The app not just helps small businesses keep track of credit transactions – both payments and receivables, it sends timely reminders, and also makes it easier for them to collect and settle balance amounts quickly. The app has seen more than 20 million downloads and can be accessed in more than 10 Indian languages. Currently, it has over 5 million active monthly users which include over 100 types of businesses like kirana store owners, mobile recharge shops, medical stores, apparels amongst others. The venture has raised $83 million from investors to date including from Lightspeed Venture Partners, Tiger Global, and Y Combinator.

SME WORLD in an email interaction with Harsh Pokharna, Co-founder & Chief Executive Officer, OkCredit.

What is the basic concept behind launching OkCredit?

This story is from the March 2021 edition of SME World.

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This story is from the March 2021 edition of SME World.

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