Chqbook Launches Digital Ledger, Lending, Insurance Services For Small Merchants

BENGALURU: Chqbook, a fintech startup focused on small business owners such as kiranas, merchants and chemists, has launched a suite of services, including current account for daily transactions, short to long-term business loans and insurance products on its platform. Many of these small mom-and-pop business owners currently depend on manual ledgers to record daily transactions, and some do not even own a bank account, without a which access to credit is almost impossible. Chqbook said it plans to address this gap by opening current accounts and providing financial products such as insurance and credit access to help bring small business owners to the formal economy. The three-year-old start-up already has over 300,000 customers across the top 25 cities and on-boards over 25,000 customers on its platform every month for various products and services catering to small business owners. “Chqbook’s mobile app brings together all the financial transactions a small business owner must handle, now available on demand and at their fingertips. Our ‘financial control center’ aggregates a simple to use current account, traditional khata transactions, lending, and insurance. It brings all daily transactions in one place making them easy to access, so that small business owners can focus on what they do best – running and growing their businesses,” Vipul Sharma, founder, and chief executive, Chqbook said in a statement.