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Cashfree Payments raises $53 Mn led by KRAFTON

EntrackrEntrackr · 1y ago
Cashfree Payments raises $53 Mn led by KRAFTON
Medial

Cashfree Payments raises $53 Mn led by KRAFTON The capital will strengthen Cashfree’s payments and market reach while enabling synergy with KRAFTON to drive innovation across digital sectors. Payments firm Cashfree Payments has raised $53 million (Rs 450 crore) in a funding round led by Korean digital entertainment giant, KRAFTON and existing investor Apis Growth Fund II, a private equity fund managed by Apis Partners Group. The capital will strengthen Cashfree’s payments and market reach while enabling synergy with KRAFTON to drive innovation across digital sectors, the Bengaluru-based company said in a press release. According to TheKredible, Cashfree has raised approximately $95 million over its nine-year journey from investors including Y combinator, Smilegate Investments and State Bank of India (SBI). This is the first external fundraise for the company since June 2021. Cashfree Payments provides businesses with a fast and easy way to collect payments online, make payouts, improve conversions, and verify identity and detect fraud during KYC and onboarding. With popular merchant platforms like Shopify, Wix, WordPress, WooCommerce, and WhatsApp, Cashfree enables businesses to start transactions in 24 hours. The Akash Sinha-led company claims to enable large businesses to process 12,000 transactions per second during peak demand. It has also introduced Embedded Payments, allowing platforms, ERPs, and SaaS businesses to easily and compliantly integrate payments as a feature into their products. Cashfree recently launched Secure ID, an identity verification stack with a comprehensive suite of APIs and KYC components, addressing the surge in fraud. As per the company, SecureID has completed more than 1 billion identity and user verifications to date. Besides India, Cashfree Payments is expanding its footprint in the UAE and sees significant growth potential offering payments and related products across the Middle East. Despite facing a ban on onboarding new merchants for most of FY24, Cashfree's revenue from operations grew by 4.7% to Rs 642.7 crore from Rs 613.8 crore in FY23. However, the company's net loss remained unchanged at Rs 135 crore for the fiscal year ending March 2024. It majorly competes with Razorpay, PayU, BillDesk, and CCAvenue.

Cashfree Payments announces ESOP buyback for over 400 employees

EntrackrEntrackr · 16d ago
Cashfree Payments announces ESOP buyback for over 400 employees
Medial

Cashfree Payments announces ESOP buyback for over 400 employees Bengaluru-based fintech firm Cashfree Payments has announced an ESOP buyback programme covering over 400 employees, including 175 former employees. The buyback provides liquidity to current and former team members holding vested stock options. Cashfree did not disclose the size of the buyback or the valuation at which the shares were repurchased. The move comes a year after Cashfree’s $53 million funding round led by Krafton. Overall, the company has raised $95 million from investors, including Y Combinator, Smilegate Investments, and State Bank of India. Founded in 2015, Cashfree Payments operates a payments and payouts infrastructure platform for businesses. The company processes more than $80 billion in annual payment volumes and serves over one million merchants, including startups and large internet companies. Cashfree has also been expanding its cross-border payments business, which currently contributes around 10% of the company’s revenue, following strong growth in transaction volumes over the past year. According to TheKredible, Cashfree reported operating revenue of Rs 640 crore in FY25, compared with Rs 643 crore in FY24. The company’s net loss widened 14% to Rs 154 crore from Rs 135 crore in the previous fiscal year. This marks the third major ESOP buyback announcement in 2026. Recently, healthtech firm Innovaccer completed an ESOP buyback worth around $75 million, while SaaS unicorn BrowserStack announced a $125 million ESOP liquidity programme. For context, ESOP buyback activity in 2025 remained muted at just over $75 million. In comparison, total ESOP buybacks, payouts, and liquidity stood at about $190 million in 2024, significantly lower than $802 million in 2023, $440 million in 2021, and $200 million in 2022.

Cashfree posts Rs 640 Cr revenue in FY25, losses rise 14%

EntrackrEntrackr · 4m ago
Cashfree posts Rs 640 Cr revenue in FY25, losses rise 14%
Medial

Fintrackr All Stories Cashfree posts Rs 640 Cr revenue in FY25, losses rise 14% Cashfree struggled with growth in FY25, even after the Reserve Bank of India removed merchant onboarding restrictions for leading companies. State Bank of India-backed Cashfree is no exception, as the firm’s operating scale remained flat in FY25. Cashfree reported an operating revenue of Rs 640 crore in FY25 against Rs 643 crore in FY24, according to the company’s consolidated financial statements filed with the Registrar of Companies (RoC). Founded in 2015 by Akash Sinha and Reeju Datta, Cashfree provides businesses with a fast and easy way to collect payments online, make payouts, improve conversions, and verify identity and detect fraud during KYC and onboarding. The company claims to enable large businesses to process 12,000 transactions per second during peak demand. The revenue breakup for FY25 shows payment gateway commissions accounted for 75% of the operating revenue at Rs 481 crore. Payout commissions added another Rs 55 crore, while commission income from other services contributed the rest Rs 103 crore. With other income of around Rs 1 crore, the Bengaluru-based company posted a total income of Rs 641 crore in the last fiscal year. On the expense side, payment gateway processing cost accounted for 53% of the total expense, decreasing by 2% to Rs 419 crore in FY25 from Rs 427 crore in FY24. The company’s other key expense items include employee benefits, marketing, and technology investments. Its marketing expenses notably surged 150% to Rs 20 crore in FY25. The firm’s employee benefits costs remained flat at Rs 243 crore in FY25 compared to Rs 245 crore in FY24. Depreciation, finance cost and other overheads added another Rs 80 crore to the rising expenses. In the end, Cashfree’s total costs increased 2% to Rs 795 crore from Rs 779 crore last year. Although top-line performance remained stable, the company’s net loss widened 14% to Rs 154 crore from Rs 135 crore in the previous fiscal. Its EBITDA loss increased to Rs 132 crore, pushing the EBITDA margin down to -20.63% from -17.42% the previous year. In the coming year, Cashfree is expected to reduce its marketing expenses to lower losses and strengthen its financial position in FY26. The ban on real money gaming platforms is also expected to affect the business of payments firms including Cashfree significantly in the ongoing fiscal year. Ahead of FY26, Cashfree raised $53 million in a round led by Krafton, marking its first funding in nearly four years. Overall, the company has raised $95 million from investors including Y Combinator, Smilegate Investments, and the State Bank of India.

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