The Indian SaaS market is forecast to grow from $6 billion in 2019 to more than $20 billion by 2022, according to the India Private Equity Report 2020 by Bain and Co.
In this brouhaha of growth forecasts, HostBooks Limited, founded by chartered accountant Kapil RANA, has been quietly and steadily gathering steam. An all-in-one accounting application, HostBooks is a comprehensive platform for all accounting needs, says Kapil.
HostBooks offers products such as accounting, GST, TDS, income tax, POS and business intelligence tools for MSMEs and professionals. These cloud-based applications make integrated and automated workflow simple and user-friendly, enabling persons with minimal computer knowledge to operate and obtain the desired results. The startup charges based on annual usage of the solution and is sold on a per user basis.
HostBooks is self-funded with Kapil having invested Rs 30 crore in product development and marketing. At present, it is looking for a large round of $25 million to reach 150,000 businesses worldwide. The startup will use these funds for product research and development, marketing, sales and distribution activities as and when it raises it.
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This SaaS startup is making financial management easy for over 45,000 businesses
India's SaaS success story is being led by unicorns like Freshworks and bootstrapped icon Zoho. Be it enterprise Saas or SMB SaaS, or others, the sector is growing in leaps and bounds. In fact, the Indian SaaS market is forecast to grow from $6 billion in 2019 to more than $20 billion by 2022, according to the India Private Equity Report 2020 by Bain and Co.
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