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Three-year-old Zype’s revenue jumps 5X to Rs 101 Cr in FY25

EntrackrEntrackr · 2m ago
Three-year-old Zype’s revenue jumps 5X to Rs 101 Cr in FY25
Medial

Three-year-old Zype’s revenue jumps 5X to Rs 101 Cr in FY25 Digital lending startup Zype’s operating revenue surged nearly fivefold to cross Rs 100 crore in FY25, while expenses tripled due to bad debt write-offs and higher NPA provisions. Digital lending startup Zype saw its operating revenue surge nearly fivefold, crossing the Rs 100 crore threshold in the fiscal year ending March 2025. At the same time, its expenses tripled, due to bad debt write-offs (likely NPAs) and increased provisioning for non-performing assets. Zype’s revenue from operations ballooned nearly 5X to Rs 101.3 crore in FY25 from Rs 20.3 crore in FY24, its financial statements sourced from the Registrar of Companies (RoC) show. Zype, which has been operating as a NBFC, provides unsecured personal loans to young salaried professionals for purposes such as weddings, home repairs, and medical expenses. In FY25, interest income from its loan portfolio surged nearly sixfold to Rs 62 crore from Rs 10.58 crore in FY24, contributing 61% of its revenue. Processing fees also expanded 5X to Rs 34.39 crore, accounting for 34% of its topline. Zype also generated Rs 4.8 crore from other operating services, including penal charges, and an additional Rs 4.7 crore from non-operating sources such as interest on fixed deposits, income tax refunds, and gains on mutual funds. This took its total income to Rs 106 crore in FY25. Employee benefit expenses made up 20% of total costs, rising 89% to Rs 24 crore in FY25. Finance costs on borrowings contributed 19%, jumping to Rs 22.6 crore from just Rs 1.6 crore in FY24, while marketing expenses also doubled during the year to Rs 10 crore. The company wrote off bad debts worth Rs 19 crore and made provisioning of Rs 7.95 crore for non-performing assets (NPAs), together accounting for 22.67% of total expenses. Other overheads, including lease rentals for office and equipment, legal and professional fees, IT expenses, verification costs and others added another Rs 35.4 crore. Overall total expenditure for the firm rose over 3.3X to Rs 118.9 crore in FY25, compared to Rs 35.8 crore in FY24. Despite the revenue growth, write-offs of bad debts and provisions for NPAs pushed its losses up 76% to Rs 12.85 crore in FY25 from Rs 7.3 crore in FY24. At a unit level, Zype spent Rs 1.17 to earn one rupee of operating revenue in FY25. As of March 2025, the company’s current assets stood at Rs 368.7 crore, including cash and bank balances of Rs 33.65 crore. According to startup data intelligence platform TheKredible, the Mumbai-based firm raised over $30 million, including its Rs 90 crore ($10.2 million) round led by Japanese venture capital firm Unleash Capital Partners, with participation from existing investor Xponentia Capital.

Exclusive: Lendingkart raises Rs 100 Cr debt from Stride Ventures

EntrackrEntrackr · 1y ago
Exclusive: Lendingkart raises Rs 100 Cr debt from Stride Ventures
Medial

Small and medium enterprises focused digital lending platform Lendingkart has secured Rs 100 crore ($12 million) in debt and Rs 8 crore (nearly $1 million) in equity from Stride Ventures. This is the second major debt closure by the Ahmedabad-based firm in the past year. The board at Lendingkart has passed a board resolution to issue 10,000 non-convertible debentures and 454 Series D5 CCPS to raise Rs 108 crore or $13 million, its regulatory filing accessed from the RoC shows. As per the filings, the Temasek-backed company has raised Rs 318 crore ($38 million) in debt to date. Lendingkart will receive the debt fund in two tranches of Rs 50 crore ($6 million) each and it will carry a coupon rate of 14% per annum. According to the startup data intelligence platform TheKredible, the company has been valued at around $690 million post-allotment. Just last month, LendingKart raised $10 million through external commercial borrowing (ECBs) from a fund managed by BlueOrchard. As of now, Lenskart has mopped up Rs 1,050 crore ($126 million) in equity capital from investors like Fullerton, Bertelsmann, Mayfield India, Saama Capital, Sistema Asia and India Quotient. Lendingkart disburses loans with an average ticket size of Rs 5 lakh to Rs 6 lakh to MSME business owners. As per its website, it has disbursed over Rs 18,700 crore to over 300,000 businesses present in 4,100 cities. Lendingkart performed well in FY23 as its revenue from operations grew by 33.4% to Rs 858 crore. Meanwhile, the firm also posted Rs 119 crore profit in the same period. It’s yet to file annual financial results for FY24. As per a media report, the company is planning for an initial public offering (IPO) by next year. Lenskart is targeting to cross Rs 10,000 crore in assets under management before going public.

Ixigo revenue rises 37% to Rs 283 Cr in Q2 FY26

EntrackrEntrackr · 1m ago
Ixigo revenue rises 37% to Rs 283 Cr in Q2 FY26
Medial

Ixigo revenue rises 37% to Rs 283 Cr in Q2 FY26 Online travel platform ixigo (Le Travenues Technology Ltd) reported strong year-on-year growth in revenue during the second quarter of FY26, though higher expenses dragged the company into a small loss for the period. The company’s revenue from operations grew 37% year-on-year to Rs 283 crore in Q2 FY26 from Rs 206.5 crore in the same quarter last year, according to its consolidated financial statements filed with the stock exchanges. Its total income rose to Rs 288 crore from Rs 211 crore a year earlier. The Gurugram-based company generated the largest share (43%) of its operating revenue from train ticketing, which rose to Rs 123 crore in Q2 FY26 from Rs 110 crore in Q2 FY25. Flight and bus booking services contributed 31% and 23% to the company’s revenue, respectively. On the expense front, ixigo’s total costs increased 52% YoY to Rs 290.4 crore in Q2 FY26 from Rs 191.5 crore in Q2 FY25. This included employee benefit expenses of Rs 74.2 crore (up from Rs 38.7 crore) and other expenses of Rs 212.3 crore (up from Rs 149.9 crore). As a result, the company reported a pre-tax loss of Rs 4 crore during the quarter, compared to a profit of Rs 18.3 crore in Q2 FY25. Its net loss stood at Rs 3.5 crore against a profit of Rs 13.1 crore in the year-ago period. For the first half of FY26, ixigo posted revenue of Rs 597.2 crore, up 54% from Rs 388.3 crore in H1 FY25. However, its net profit fell to Rs 15.5 crore from Rs 27.9 crore in the corresponding period last year, reflecting higher operating costs. As of September 30, 2025, the company’s total assets stood at Rs 989 crore, including cash and cash equivalents of Rs 138.8 crore. During the quarter, ixigo also entered into a share subscription agreement with MIH Investments One B.V. for the proposed preferential allotment of up to 4.63 crore equity shares at Rs 280 per share, amounting to Rs 1,295.5 crore, subject to shareholder approval. At the close of trading on Wednesday, Ixigo’s shares were priced at Rs 325, giving the online travel aggregator a market capitalization of Rs 12,686 crore.

Exclusive: Lendingkart set to raise $100 Mn in Series F

EntrackrEntrackr · 18d ago
Exclusive: Lendingkart set to raise $100 Mn in Series F
Medial

Exclusive: Lendingkart set to raise $100 Mn in Series F Lendingkart, a non-banking financial company (NBFC), provides working capital and business loans to SMEs across India, typically with average ticket sizes ranging between Rs 5–6 lakh. Temasek-owned Fullerton’s newly acquired fintech firm Lendingkart is set to raise Rs 850 crore (about $100 million) in its Series F round. This will be the company’s first significant fundraise since Fullerton bought a majority stake in March. As per regulatory filings sourced from the Registrar of Companies, the board of Lendingkart has approved the issuance of 9,04,160 Series F preference shares at Rs 9,401 per share to mop up the proposed capital. Fullerton Financial will spearhead the round with Rs 511 crore, while Bertelsmann Nederland, Mayfield India, and Saama Capital will contribute Rs 71 crore, Rs 60 crore, and Rs 47 crore, respectively. Grand Anicut, Sistema Asia Fund, India Quotient, Darrin Capital, and a clutch of angels such as co-founders Raichand Lunia and Harshvardhan Lunia, along with Mukul Sachan, will also join the round. According to the filing, the proceeds will be deployed towards expansion and growth initiatives across the firm and its subsidiaries, including its wholly owned unit Lendingkart Finance, along with general corporate purposes. Post-allotment, Fullerton Financial will command 58.35% of the company’s shareholding, while Bertelsmann Nederland, Mayfield India, and Saama Capital will hold 8.20%, 7.25%, and 5.40%, respectively. In a response to Entrackr's queries, a Lendingkart spokesperson said, "Fullerton Financial Private Limited acquired a circa 56% stake in Lendingkart on 27 March 2025. Lendingkart is proposing to raise up to INR 850 crores in its latest capital raise vide preferential offer led by Fullerton Financial Private Limited for its expansion and growth." Lendingkart, a non-banking financial company (NBFC), provides working capital and business loans to SMEs across India, typically with average ticket sizes ranging between Rs 5–6 lakh. The firm claims to have disbursed over Rs 18,700 crore to 300,000+ businesses to date. Before the acquisition, Lendingkart mopped up Rs 1,050 crore ($126 million) in equity capital from investors like Fullerton, Bertelsmann, Mayfield India, Saama Capital, Sistema Asia, and India Quotient. For FY24, the company reported a 36% year-on-year rise in revenue to Rs 1,090 crore, while its profits dipped 5.9% to Rs 175 crore. The firm has not yet filed its FY25 financials.

Ripplr reports Rs 91 Cr loss on Rs 1,164 Cr GMV in FY25

EntrackrEntrackr · 13d ago
Ripplr reports Rs 91 Cr loss on Rs 1,164 Cr GMV in FY25
Medial

Ripplr reports Rs 91 Cr loss on Rs 1,164 Cr GMV in FY25 Distribution and supply chain platform Ripplr posted nearly three-fold GMV growth in FY24. However, its growth momentum slowed sharply as it barely achieved double-digit growth in the last fiscal year. Ripplr’s gross revenue grew by 13% to Rs 1,164 crore in FY25 from Rs 1,028 crore in FY24, according to its annual financial statement. For the uninitiated, Ripplr offers a plug-and-play distribution network as a service to digitize and manage brand operations. Goods sales accounted for 92% of Ripplr's total gross revenue, which increased by 14% year-on-year to Rs 1,068 crore in FY25. Income from logistics and warehousing were other revenue drivers for the 3One4 Capital-backed firm. Cost of materials remained the largest expense for the company which formed nearly 81% of total expenditure and rose 14.5% to Rs 1,018 crore in FY25 from Rs 889 crore in FY24. However, its employee benefit expenses declined sharply by 33% to Rs 40 crore in FY25 from Rs 60 crore in FY24. Depreciation, finance costs, and professional fees collectively added another Rs 32.5 crore while other expenses, covering logistics, store operations, and miscellaneous overheads, rose 14.5% to Rs 169.5 crore. Overall, Ripple’s total expenses increased 12% to Rs 1,260 crore in FY25. Ripplr posted a loss of Rs 91 crore in FY25, almost identical to Rs 90 crore it lost in FY24. The firm’s ROCE and EBITDA margin improved slightly to -30% and -5.88% respectively. On a unit level, Ripplr spent Rs 1.08 to earn a rupee of operating revenue in FY25, compared to Rs 1.10 in the previous fiscal. The Bengaluru-based firm recorded cash and bank balances of Rs 63 crore, while current assets rose to Rs 381 crore in FY25. Ripplr is reportedly in discussions to raise Rs 400 crore from SBI and existing investors. Before this, the company raised over $45 million. According to startup data intelligence platform TheKredible, Sojitz Corporation and 3One4 Capital are their notable investors.

Innoviti reports Rs 143 Cr revenue and Rs 62 Cr loss in FY25

EntrackrEntrackr · 1m ago
Innoviti reports Rs 143 Cr revenue and Rs 62 Cr loss in FY25
Medial

Innoviti reports Rs 143 Cr revenue and Rs 62 Cr loss in FY25 Innoviti Technologies reported 35% year-on-year revenue growth for the fiscal year ending March 2025. However, its losses remained high at Rs 62 crore, despite an 11% YoY reduction in FY25. The company’s operating revenue increased to Rs 143 crore in FY25 from Rs 106 crore in FY24, according to its financial statement sourced from the Registrar of Companies (RoC). Innoviti provided payment gateway and PoS devices to merchants for processing online and card-based payments. Service fees from these offerings contributed 86% of its revenue, which rose 47% to Rs 123 crore in FY25 from Rs 84 crore in FY24. The remaining 14% came from lease rentals, which stood at Rs 19 crore during the same period. Including other non-operating activities such as treasury gains, its total income rose marginally to Rs 144 crore during FY25. Innoviti’s total expenses grew 15% to Rs 207 crore in FY25 from Rs 180 crore a year ago, largely guided by a sharp increase in subvention and service fees which accounted for 40% of the total cost. This cost surged 88% to Rs 82.5 crore in FY25 from Rs 44 crore in FY24. Employee benefit expenses, however, declined 19% to Rs 43 crore in FY25 from Rs 53 crore in FY24. On the other hand, depreciation costs rose 32% YoY to Rs 33 crore from Rs 25 crore in FY24. Other expenses, sub-contractor charges and overheads added the rest Rs 49 crore. In the end, Innoviti narrowed its net loss by 11% to Rs 62 crore in FY25, against Rs 70 crore in FY24. The company’s EBITDA loss stood at Rs 26 crore with EBITDA margin improving to -18.2% from -32.1%. Its ROCE margin stood at -62.77% in the same period. On the balance sheet front, Innoviti’s total assets remained stable at Rs 128 crore, with current assets of Rs 100 crore in FY25, including Rs 41 crore in cash and bank balances. According to startup data intelligence platform TheKredible, Innoviti has raised a total of $158 million of funding till date, having Bessemer Venture Partners and FMO as its lead investors. The Noida-based company’s founder Rajeev Agrawal owns 10% of the company. Earlier this year, Agrawal said the company aimed to achieve operating profitability within the next two quarters. He also mentioned that IPO planning had begun, with a target to go public within the next 12 months.

Info Edge posts Rs 722 Cr revenue in Q3 FY25; profit jumps 2.5X

EntrackrEntrackr · 10m ago
Info Edge posts Rs 722 Cr revenue in Q3 FY25; profit jumps 2.5X
Medial

Info Edge posts Rs 722 Cr revenue in Q3 FY25; profit jumps 2.5X Info Edge, the parent company of Naukri and 99acres, released its unaudited financial results for Q3 FY25. According to the company’s update sourced from the National Stock Exchange (NSE), revenue from operations grew by 15.2% to Rs 722 crore in Q3 FY25 from Rs 627 crore in Q3 FY24. The company recorded Rs 2,100 crore in revenue during the first nine months of FY25, with profits reaching Rs 632 crore. Info Edge derives the majority of its revenue—73%—from Naukri.com, which contributed Rs 527 crore in Q3 FY25, marking a 12.3% year-on-year growth compared to Q3 FY24. Meanwhile, revenue from 99 acres reached Rs 104 crore, while the Jeevansathi and Shiksha segments collectively generated Rs 91 crore during the same quarter. The company added another Rs 187 crore from interest on deposits and investments, which pushed its overall revenue to Rs 9,094 crore in Q3 FY25, compared to Rs 660 crore in Q3 FY24. Info Edge spent 62.6% of its overall expenditure on employee benefits, which increased by a modest 9.7% year-on-year to Rs 305 crore in Q3 FY25. Its advertising and internet costs stood at Rs 82 crore and 20 crore, respectively. The company’s overall cost grew 7% YoY to Rs 487 crore in Q3 FY25 from Rs 455 crore in Q3 FY24. The steady growth and surge in other income with controlled expenditure led its profits to increase by 142% to Rs 288 crore in Q3 FY25, compared to Rs 119 crore in Q3 FY24. On a unit level, it spent Rs 0.67 to earn a rupee in Q3 FY25. As of 4:40 PM, Info Edge is trading at Rs 7,910, reflecting a Rs 203.1 increase following today's results. Its total market capitalization value improved to Rs 1,02,501 crore ($12.2 billion).

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