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News on Medial
Fintech SaaS startup sees 819.2% profit surge to ₹71.7 crore
Inshorts
·
7m ago
Medial
Fintech SaaS startup posted a 819.2% year-on-year jump in its consolidated net profit at ₹71.7 crore in the financial year 2023-24 (FY24) on the back of a healthy growth in its topline and higher margins. As Inc42 reported earlier, the company turned profitable in FY23, logging a consolidated net profit of ₹7.8 crore.
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Perfios profit jumps multifold in FY24
YourStory
·
7m ago
Medial
B2B fintech SaaS company Perfios reported a significant surge in profit for FY24, reaching Rs 71.67 crore, compared to Rs 7.79 crore the previous year. The company experienced a 37.1% increase in revenue, totaling Rs 557.8 crore in FY24. Despite a 22% rise in expenses, Perfios maintained a strong profit margin, with a majority of revenue generated from the sale of services. The company plans to use recent funding to expand internationally and enhance its technology stack.
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Startup news and updates: Daily roundup (April 28, 2025)
YourStory
·
2m ago
Medial
India’s startup ecosystem sees significant developments, with late-stage funding surging despite challenging markets. Companies like Ather Energy and Urban Company are reducing IPO offer sizes, while some await better economic climates. Fittr, a thriving wellness platform, faced financial setbacks from profit loss during the pandemic-driven boom. Meanwhile, Perfios, a fintech SaaS unicorn, acquired IHX, marking its third acquisition this year. Notably, 72-year-old Vidya Singh became India's oldest woman to summit Mount Kilimanjaro.
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Trust Fintech IPO Closes With 101X Subscription
Inc42
·
1y ago
Medial
Trust Fintech, a fintech SaaS company, has closed its initial public offering (IPO) with a subscription of 101X on the final day. The IPO received bids for 45.39 crore shares against the 44.94 lakh shares on offer. The company plans to use the IPO proceeds for various purposes such as establishing a new development facility, upgrading infrastructure, enhancing existing products, and funding business development activities. Trust Fintech offers SaaS products and fintech solutions for the BFSI sector and reported a profit after tax of INR 7.27 crore in H1 FY24.
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CarTrade's profits surge on low base, revenue grows marginally by 5%
Money Control
·
1y ago
Medial
CarTrade's profits surge due to a low base effect, while revenue sees a marginal 5% growth. The company's financial results show an increase in profitability driven by the comparison with a previous low base. However, the modest revenue growth indicates challenges in achieving substantial expansion. The surge in profit came even as CarTrade’s revenues increased marginally by about 5 percent to Rs 86.1 crore in the June quarter, up from Rs 82.7 crore in the same period last year.
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Fintech unicorn Perfios PAT surges over 9X to Rs 72 Cr in FY24
Entrackr
·
8m ago
Medial
SaaS-based B2B fintech firm Perfios achieved impressive growth in the fiscal year ending in March 2024, with a revenue increase of 37.1% year-on-year, surpassing Rs 550 crore. The company provides revenue analysis, fraud checks, and verification services to financial institutions across various sectors. Its consolidated financial statements showed a significant rise in income from services and software coding. With a profit after tax of Rs 71.67 crore and improved margins, Perfios remains profitable and has accumulated a substantial amount of funds. The company recently raised a significant amount of funding and acquired fintech startup Karza Technologies.
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Fintech unicorn Oxyzo reports 185% jump in PAT at Rs 197 crore in FY23
Money Control
·
2y ago
Medial
Fintech unicorn Oxyzo has reported a significant growth in profit after tax (PAT) for the fiscal year 2022-2023. The company witnessed a remarkable 185% surge in PAT, amounting to ₹197 crore. This robust financial performance highlights Oxyzo's success in the fintech sector and showcases its ability to capitalize on market opportunities. The impressive growth positions Oxyzo for further expansion and success in the future.
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Productisation Of Services Using Software & AI Will Be A Big Theme: Bessemer’s Anant Vidur Puri
Inc42
·
1y ago
Medial
Bessemer Venture Partners (BVP) is investing in India's growing SaaS ecosystem, with a focus on internet marketplaces, fintech software, digital health, and global software from India. The firm sees long-term business potential in the Indian SaaS market, which is projected to reach $50 billion by 2030. BVP is optimistic about the productisation of services using software and AI and believes India is well-positioned to leverage these technologies. The firm also emphasizes the importance of ROI for SaaS companies and advises startups to work on delivering significant cost reductions and tangible benefits to customers.
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Digital lending startup Moneyview's FY23 profit jumps 2616% to Rs 163 crore
IndianStartupNews
·
1y ago
Medial
Bengaluru-based fintech startup, Moneyview, has reported a 160% increase in operating revenue for FY23, reaching Rs 577 crore. The company also experienced an impressive 2,616% surge in profit to Rs 163 crore during the same period. This growth followed a successful Series E funding round in December 2022, where Moneyview raised $75 million. The company offers personalized credit products and has partnered with various non-banking financial companies (NBFCs). Revenue growth was primarily driven by fees and commissions on loan disbursals. Moneyview's controlled approach to spending has contributed to its profitability, with improved ROCE and EBITDA margin.
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SaaS fintech Zaggle plans at least 2 acquisitions next fiscal to drive growth
YourStory
·
6m ago
Medial
SaaS fintech platform Zaggle Prepaid Ocean Services Ltd is planning to acquire at least two companies in the next financial year to drive its growth. The company recently raised INR 595 crore through a qualified institutional placement and is evaluating potential targets in the SaaS fintech space. Zaggle aims to achieve a billion-dollar revenue within the next 5 to 6 years and is looking to strategically accelerate its growth trajectory through strategic acquisitions. The company recently acquired stakes in two companies, Span Across IT Solutions and Mobileware Technologies, and reported a three-fold increase in consolidated net profit for the July-September quarter.
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Exclusive: NeoGrowth Bags $11 Mn Debt Funding From Symbiotics Group
Inc42
·
1y ago
Medial
NeoGrowth has acquired debt from special purpose vehicles AAV Sarl and Masala Investments Sarl. The non-banking financial company will have to repay the debt with 12.15% annual interest over a 5-year period. In FY24, NeoGrowth reported a YoY profit growth of 313% to INR 71.7 Cr, with operating revenue increasing by 57% to INR 599 Cr.
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