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Fittr posts flat scale in FY24; losses trims 73%

EntrackrEntrackr · 11m ago
Fittr posts flat scale in FY24; losses trims 73%
Medial

Fintrackr Fittr posts flat scale in FY24; losses trims 73% Fitness tech startup Fittr has encountered growth challenges, with its revenue remaining flat over the past three years. However, the losses for the Rainmatter Capital-backed company decreased substantially in the last fiscal year. Fittr’s revenue from operations saw a modest 3% decrease to Rs 85 crore in FY24, from Rs 87.5 crore in FY23, as per its consolidated financial statement sourced from the Registrar of Companies (RoC). Founded by Jitendra Chouksey, Sonal Singh, Jyoti Dabas, Rohit Chattopadhyay, and Bala Krishna Reddy, Fittr is a community-based health and online fitness marketplace. It creates customized workout plans based on fitness goals, equipment available, time available, and exercise style preferences. Revenue from fitness and wellness online services contributed the majority at Rs 80 crore, despite a 4.42% decline compared to 83.7 crore in FY23. New revenue streams like smart ring sales added Rs 80 lakh, while academic fees and other income sources contributed Rs 2.8 crore and Rs 1.4 crore, respectively. The company earned an additional Rs 1.3 crore from non-operating revenue which pushed its total revenue to Rs 86.3 crore in FY24. Fittr’s total expenses declined significantly by 26% to Rs 97 crore in FY24 from Rs 131 crore in FY23. The reduction was driven by a 36.2% cut in employee benefits (Rs 20.8 crore), a 65.8% reduction in advertising costs (Rs 8.4 crore), and a 30% decrease in other overheads (Rs 13.5 crore). Expenditure on consultants and study material, the largest cost component, remained stable at Rs 54.3 crore. With the controlled expenses across verticals, Fittr’s losses shrank by 73.5% to Rs 11 crore in FY24 from Rs 41.5 crore in FY23. Its ROCE and EBITDA margin stood at -38.89% and -10.66% respectively. Fittr’s expense-to-earning ratio stood at Rs 1.14. As of March 2024, the firm reported Rs 46.5 crore of current assets including Rs 27.8 crore of cash and bank balance. According to TheKredible, Fittr has secured a total funding of $17 million to date including a $3.5 million round led by Zerodha-backed venture fund Rainmatter. Surge, Dream Capital (now shut down), and Elysian Park are other notable investors of Fittr.

Neobank Freo's revenue tops Rs 100 Cr in FY24, slashes losses by 64%

YourStoryYourStory · 1y ago
Neobank Freo's revenue tops Rs 100 Cr in FY24, slashes losses by 64%
Medial

- MWYN Tech Pvt Ltd's neobanking startup, Freo, achieved total revenue of over Rs 100 crore in FY24. - The company's revenue from operations increased by 8.67% to Rs 99.54 crore in FY24. - Total revenue, including other sources, grew by 11.68% to Rs 111.46 crore in FY24 compared to the previous year. - Freo reduced its total expenditure by 10.14% to Rs 125.58 crore in FY24, resulting in a 64.55% decrease in net loss. - The fintech company has reported profitability since December 2023 and boasts a user base of 25 million across 1,200 Indian cities. - Freo, formerly known as MoneyTap, has transformed from a credit line provider to a comprehensive credit-led neobank offering various digital financial services.

AlgoBulls posts 4.4X revenue jump in FY24, swings to positive EBITDA

EntrackrEntrackr · 8m ago
AlgoBulls posts 4.4X revenue jump in FY24, swings to positive EBITDA
Medial

AlgoBulls posts 4.4X revenue jump in FY24, swings to positive EBITDA Algorithmic trading-focused fintech startup AlgoBulls demonstrated hyper-growth during the fiscal year ending March 2024, while keeping tight control on expenses—with losses rising by only 50%. AlgoBulls’ revenue from operations surged to Rs 238 crore in FY24 from Rs 54.5 crore in FY23, according to its consolidated financial statement sourced from the Registrar of Companies (RoC). AlgoBulls is an AI-backed algorithmic trading platform that offers tools enabling traders to automate their strategies. It allows users to either build custom strategies or choose from a range of pre-built options—revenue from these services accounted for 99% of its total revenue. On the expense side, the company’s cost of materials—its largest expenditure—surged 4.5X to Rs 236 crore in FY24, accounting for nearly 98% of total expenses. Employee benefit expenses doubled to Rs 3 crore, while other overheads, including operational and administrative costs, amounted to Rs 2 crore for the year. Overall, the firm’s total expenses jumped 4.3X to Rs 241 crore in FY24 from Rs 56 crore in FY23. AlgoBulls’ net loss increased by 50% to Rs 3 crore in the last fiscal year. However, it reported a positive EBITDA of Rs 1 crore, with an improved EBITDA margin of 0.42%, while its return on capital employed (ROCE) stood at -35%. At a unit level, AlgoBulls spent Rs 1.01 to earn a rupee. As of March 2024, the company reported Rs 9 crore of current assets which includes Rs 2 crore of cash and bank balance. According to TheKredible, AlgoBulls has raised a total of $2.5 million in funding to date, including a $2 million round from lead investor Venture Catalysts, which holds a 2% stake in the company. Meanwhile, the company’s founders—Pushpak Dagade, Jimmit Patel, and Suraj Bathija—collectively own 66.66% of the company.

HungerBox posts Rs 82 Cr revenue in FY25

EntrackrEntrackr · 11d ago
HungerBox posts Rs 82 Cr revenue in FY25
Medial

Corporate and office food caterer HungerBox closed FY25 with increased order volumes and an expanded cafeteria network. The company’s focus on operational efficiency and tech-led cafeteria management contributed to its financial and operational performance during the year. HungerBox’s revenue for the year grew 26% to Rs 82 crore in FY25 from Rs 65 crore in FY24, according to the company’s latest disclosure. HungerBox is a full-stack food tech company primarily offering end-to-end solutions and services catering to the F&B needs of corporates. The company generates revenue by charging a commission on food sales from their vendors. As per the company, its total order volume grew 27% to 14 crore in FY25 from 11 crore in FY24. Meanwhile, its gross transaction value (GTV) rose 33% to Rs 885.9 crore, up from Rs 663.3 crore in FY24, according to the company’s disclosure. The Bengaluru-based firm saw its EBITDA jump 47% year-on-year to Rs 9.2 crore in FY25 from Rs 6.24 crore a year earlier. HungerBox expects its growth momentum to continue and is targeting more than Rs 1,200 crore in GTV for FY26. The company also hinted at potential capital-market participation over the next 12–18 months as it strengthens its operational and financial foundation. According to TheKredible, HungerBox has raised $32 million in funding to date, having Paytm and Sabre Partners as its lead investors. The company’s co-founders Sandipan Mitra and Uttam Kumar own 17% of the captable.

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