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Peak XV-backed BankBazaar posts Rs 249 Cr revenue in FY25; cuts losses

EntrackrEntrackr · 4d ago
Peak XV-backed BankBazaar posts Rs 249 Cr revenue in FY25; cuts losses
Medial

Peak XV-backed BankBazaar posts Rs 249 Cr revenue in FY25; cuts losses Online financial marketplace BankBazaar reported a 33% year-on-year increase in revenue for the fiscal year ended March 2025, while also reducing losses during the same period. BankBazaar’s operating revenue grew to Rs 249 crore in FY25 from Rs 187 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies (RoC). BankBazaar is a co-branded credit card issuer which lets you check your credit score and cross-sells third-party loans as well as other insurance products. The commission earned from the banks on the disbursal of loans was the sole source of revenue for the firm. Including non-operating income of Rs 5 crore, BankBazaar’s total income stood at Rs 254 crore during FY25 from Rs 188 crore in the previous fiscal. In a media interview last year, BankBazaar CEO Adil Shetty said the company earned about Rs 210 crore in recurring revenue from co-branded credit card distribution and had refocused on credit card distribution and a subscription business for credit health monitoring. The financial statements of BankBazaar have not given a detailed breakdown of the expenses, as the company recorded Rs 165 crore under operating expenses, which makes 59% of the total expenses. This cost rose 65% to Rs 165 crore in FY25 from Rs 100 crore in FY24. Employee benefit expenses declined 8% to Rs 61 crore, while advertising spend remained flat at Rs 14 crore. Finance cost rose 40% to Rs 14 crore. Overall, total costs increased 29% to Rs 278 crore in FY25 from Rs 215 crore in FY24. BankBazar’s net loss decreased by 13% to Rs 23 crore in FY25 from Rs 26.5 crore in FY24. Its ROCE and EBITDA margin stood at -9.86% and -4.42%, respectively. On a unit level, BankBazaar spent Rs 1.12 to earn a rupee of operating revenue during FY25. The company’s current assets stood at Rs 140 crore including Rs 11 crore as cash and bank balances, during FY25. According to TheKredible, BankBazaar has raised a total of $133 million of funding to date, having Peak XV, Amazon and Walden International as its lead investors.

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Paper Boat posts Rs 668 Cr revenue in FY25; narrows losses by 24%

EntrackrEntrackr · 3m ago
Paper Boat posts Rs 668 Cr revenue in FY25; narrows losses by 24%
Medial

Paper Boat posts Rs 668 Cr revenue in FY25; narrows losses by 24% Hector Beverages Pvt Ltd, maker of Paper Boat drinks, saw steady growth in FY25, with a 16% year-on-year rise in operating scale and a 24% reduction in losses to under Rs 50 crore. Hector Beverages Pvt Ltd, maker of Paper Boat drinks, pursued steady growth in the fiscal year ending March 2025. The company recorded a modest 16% year-on-year increase in operating scale in the last fiscal year, while narrowing its losses by 24% to below Rs 50 crore. Paper Boat’s operating revenue rose to Rs 668.28 crore in FY25 from Rs 574.48 crore in FY24, its financial statements sourced from the Registrar of Companies (RoC) shows. Founded by former Coca-Cola executives Neeraj Kakkar and Niraj Biyani, Paperboat offers packaged juices, coconut water, traditional Indian snacks, and dry fruits. Products traded through third-party manufacturers contributed 66% of its operating revenue. Collection from this spiked 45% to Rs 441.43 crore in FY25 from Rs 304.32 crore in FY24. In contrast, revenue from its own manufactured products, which made up 33.78% of the total, declined 16% to Rs 225.72 crore during the fiscal year. Paper Boat also earned a non-operating income of Rs 14.2 crore, mainly from interest on bank deposits, taking its total income to Rs 682.44 crore. On the expense side, the cost of materials remained the largest component, which accounted for 62% of total expenses at Rs 444 crore in FY25. Employee benefit expenses rose 32% to Rs 90.35 crore, while selling and distribution costs stood at Rs 58.47 crore, and depreciation, travel, and other overheads pushed overall expenses to Rs 716.53 crore. The Peak XV-backed company cut its losses by 24% to Rs 48.25 crore in FY25, with ROCE at -14% and EBITDA margin at -3.86%. On a unit basis, it spent Rs 1.07 to earn a rupee of operating revenue in FY25. As of March 2025, the company’s current assets stood at Rs 276.17 crore, including cash and bank balances of Rs 42.39 crore. According to startup data intelligence platform TheKredible, Paperboat has raised $143 million to date from investors including GIC, Peak XV, Sofina Ventures, and A91 Partners. GIC holds a 25% stake in the company, while Sofina and Peak XV each own over 18%.

Exclusive: BankBazaar bags Rs 130 Cr in equity and debt funding

EntrackrEntrackr · 1y ago
Exclusive: BankBazaar bags Rs 130 Cr in equity and debt funding
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BankBazaar, an online marketplace for financial products, has raised Rs 80 crore ($9.6 million) in its ongoing Series D round via private placement. This is the first round of investment for the firm in 2024. The board at BankBazaar has passed a special resolution to issue up to 22,821 Series D2 CCPS at an issue price of Rs 3,727 each to raise Rs 80 crore, its regulatory filing sourced from the RoC shows. According to the filings, the company will deploy this fund for purposes like meeting capital requirements, expansion, and growth. BankBazaar has already received Rs 46.35 crore in three tranches while the rest of the amount will flow to its account soon. The Peak XV Partners-backed firm also raised Rs 50 crore via non-convertible debentures and convertible share warrants from Vistra ITCL (India) Limited, separate filing reveals. As per TheKredible estimates, the Chennai-based company has been valued at around $217 million (post-allotment). BankBazaar is a co-branded credit card issuer that lets you check your credit score as well as cross-sells third-party loans and insurance products. As per the company website, it has partnered with more than 50 banks and has a customer base of over 50 million. The 15-year-old company has amassed over $110 million in funding to date from Amazon, GUS Holdings, Walden Investments, Eight Roads, and others. See TheKredible for the complete shareholding pattern. While the company claimed to achieve breakeven with revenue of Rs 250 crore in FY24, its revenue from operations saw a surge of 65.6% to Rs 159 crore in FY23 from Rs 96 crore in FY22. However, its losses stood at Rs 27 crore in FY23.

FirstCry-parent posts Rs 2,172 Cr revenue in Q3 FY25, cuts losses by 70%

EntrackrEntrackr · 11m ago
FirstCry-parent posts Rs 2,172 Cr revenue in Q3 FY25, cuts losses by 70%
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FirstCry-parent posts Rs 2,172 Cr revenue in Q3 FY25, cuts losses by 70% Brainbees Solutions, the parent company of kids-focused omnichannel retailer FirstCry, has released its Q3 FY25 today. The report highlights sound financial growth, with a 14.3% year-on-year growth in scale and controlled losses by 70%. FirstCry's revenue from operations grew to Rs 2,172 crore in Q3 FY25 from Rs 1,900 crore in Q3 FY24, its unaudited financial statements sourced from the National Stock Exchange (NSE) show. The sale of its products through offline stores and websites in India and the international market was the primary source of revenue, accounting for nearly 82% of total operating revenue, while its subsidiary, GlobalBees, contributed Rs 422 crore. The company also made Rs 44 crore from interest income which took its overall revenue to Rs 2,217 crore in Q3 FY25, compared to Rs 1,936 crore in Q3 FY24. For the omnichannel retailer, the cost of procurement of materials accounted for 66% of the overall expenditure which increased 17% year-on-year to Rs 1,451 crore in Q3 FY25 from Rs 1,239 crore in Q3 FY24. FirstCry’s employee benefits stood at Rs 177 crore in Q3 FY25 which includes Rs 28 crore as ESOP cost. The marketing, legal, rent, and technology were other overheads that pushed the overall expenditure to Rs 2,210 crore in Q3 FY25 from Rs 1,978 crore in Q3 FY24. The decent scale and controlled expenditure helped FirstCry to reduce its losses by 70% to Rs 15 crore in the last quarter. Notably, the company reported a positive EBITDA of Rs 152 crore. As of the last trading session, FirstCry’s share price stood at Rs 419 per share, with a total market capitalization of Rs 21,753.8 crore (approximately $2.5 billion).

Spinny posts Rs 4,657 Cr revenue in FY25; cuts losses by 28%

EntrackrEntrackr · 3m ago
Spinny posts Rs 4,657 Cr revenue in FY25; cuts losses by 28%
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Spinny posts Rs 4,657 Cr revenue in FY25; cuts losses by 28% Used car retailer Spinny posted a steady performance in FY25 with notable top-line growth and narrowing losses. The Gurugram-based company’s revenue from operations jumped 25% year-on-year to Rs 4,657 crore, up from Rs 3,730 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies (RoC). Spinny primarily generates its revenue from used car sales, accounting for 97.7% of its operating income (Rs 4,553 crore) from this segment, marking a 25.7% YoY rise during FY25. The balance came from commissions, support services, and advertising. Beyond operations, the company booked Rs 89 crore in non-operating income from interest on deposits, corporate bonds, mutual fund gains, and fair value adjustments. This pushed its total income to Rs 4,746 crore in FY25 from Rs 3,822 crore in FY24. For the used car retailer, the cost of procuring cars was naturally the largest cost center, accounting for 83.3% of the overall cost. In line with a 25% revenue surge, this cost grew 23% to Rs 4,309 crore in FY25. The firm cut its employee benefits by 13.8% to Rs 338 crore in the said year. Spinny’s direct cost stood at Rs 147 crore while its advertising and promotion costs reduced by 11.3% to Rs 125 crore in FY25. Other overheads, including information technology, legal, travelling, and rent, took the total cost to Rs 5,170 crore in FY25. The decent growth in its revenue helped Spinny to cut down its losses by 28.3% to Rs 423 crore in FY25 from Rs 590 crore in FY24. The company has also improved its per unit expense to revenue ratio in FY25, which was recorded at Rs 1.11. In March this year, the company closed $170 million round this year led by Accel Leaders Fund. According to startup data intelligence platform TheKredible, Spinny has raised around $676 million to date, including investors like Tiger Global, Accel, Elevation Capital, and others. The company expanded its portfolio by acquiring Autocar India, an auto media and car content platform, and started its own NBFC subsidiary.

CarDekho Group posts Rs 2,795 Cr revenue in FY25; losses narrow marginally

EntrackrEntrackr · 10d ago
CarDekho Group posts Rs 2,795 Cr revenue in FY25; losses narrow marginally
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CarDekho Group posts Rs 2,795 Cr revenue in FY25; losses narrow marginally CarDekho Group, which operates platforms like CarDekho, InsuranceDekho, BikeDekho, PriceDekho, Rupyy.com, reported a 24% year-on-year increase in its consolidated operating revenue to Rs 2,795 crore in FY25, compared to Rs 2,250 crore in the previous fiscal year, according to its press release. According to CarDekho, growth was driven by steady performance across its diversified businesses, including auto classifieds, fintech, shared mobility, insurance, and international operations. The company’s fleet management arm Carrum emerged as a key growth driver during the year, while the core standalone business continued to post profitability. Despite the topline growth, CarDekho’s consolidated losses narrowed marginally to Rs 266 crore in FY25 from Rs 276 crore a year earlier, excluding exceptional items and share of losses in associates. The company attributed the losses largely to continued investments and growth-stage losses in its insurance and Southeast Asia businesses. As of March 2025, CarDekho Group held net cash reserves of Rs 1,177 crore. On a standalone basis, which houses the flagship auto classifieds and financing operations, the company remained profitable for the second consecutive year. As per the press release, Standalone revenue crossed the Rs 1,000 crore mark in FY25, while profitability from the auto classifieds segment rose 60%. During FY25, CarDekho’s fintech arm Rupyy facilitated loan disbursements worth approximately Rs 16,000 crore across used cars, new cars, commercial vehicles, and personal loans. Notably, the new car financing segment nearly doubled, recording 97% growth. Rupyy now services over 95% of India’s pin codes, the press release added. The group’s fleet management business, Carrum, in which CarDekho invested early in FY25, scaled rapidly during the year. Carrum partnered with Uber to manage Uber Black fleets in Delhi-NCR and Mumbai and expanded operations to all major Tier-1 cities, managing over 1,500 vehicles. As per the company, its shared mobility subsidiary Revv, acquired in FY24, reported 40% year-on-year growth. The business expanded to 16 cities with a fleet of more than 1,300 cars and served over 65,000 customers during the year. InsuranceDekho also continued its expansion, operating in over 1,500 cities and covering 98% of India’s pin codes. Internationally, CarDekho expanded its auto classifieds and financing presence across Southeast Asia and entered the Middle East markets of the UAE and Saudi Arabia. Founded in 2008 by Amit Jain and Anurag Jain, CarDekho Group operates platforms across auto classifieds, fintech, shared mobility, education, and insurance, and is backed by investors including Peak XV, CapitalG, Hillhouse Capital, and Advent. CarDekho was recently in talks with CarTrade on a potential merger that could have created one of India’s largest auto-tech platforms. However, the two companies have officially called off the proposed consolidation.

OneAssist posts over Rs 620 Cr revenue in FY25 with Rs 26 Cr EBITDA

EntrackrEntrackr · 4m ago
OneAssist posts over Rs 620 Cr revenue in FY25 with Rs 26 Cr EBITDA
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OneAssist posts over Rs 620 Cr revenue in FY25 with Rs 26 Cr EBITDA OneAssist demonstrated strong financial performance in FY25, with revenue growing 22% to cross Rs 600 crore, while the Mumbai-based company’s losses declined by 56% during the same period. OneAssist’s operating revenue grew 22% to Rs 623 crore in the last fiscal year (FY25) from Rs 509 crore in FY24, according to its provisional financial statement reviewed by Entrackr. OneAssist offers assistance and protection services to customers for their wallets, cards, mobile phones, and gadgets. It claims to cover card frauds including skimming, phishing online ATM and PIN fraud and offers free replacement of the PAN card and driving license. The company made additional Rs 21 crore from non-operating sources which pushed its total income to Rs 644 in FY25 from Rs 513 crore in FY24. When it comes to expenses, the firm incurred finance costs of Rs 44 lakh in FY25 which reduced by 50% from Rs 83 lakh in FY24. Depreciation and amortization rose marginally to Rs 34.5 crore. Notably, OneAssist didn’t disclose much information in the expense breakup beyond these figures. Overall, the firm’s total expenses rose by 21% to Rs 652 crore in FY25 compared to Rs 538 crore in FY24. OneAssist reported a net loss of Rs 11 crore in FY25, a 56% reduction from loss of Rs 25 crore in FY24. However the company reported a positive EBITDA of Rs 26 crore for the year with EBITDA margin of 4.10%. On a per-unit basis, the firm spent Rs 1.05 to earn a rupee in FY25, compared to Rs 1.06 in FY24, meanwhile its ROCE stood at -8.64%. The Mumbai-based company recorded current assets worth Rs 496 crore in FY25, which includes Rs 134 crore in cash and bank balances. Built around the same model as CPP India, the British owned firm where Gagan Maini was the CEO earlier, the firm has comfortably outpaced its ‘parent’, and in fact might be a top prospect to take over CPP India’s operations, which have been up for sale by the British parent. According to TheKredible, Peak XV (formerly Sequoia Capital) holds the largest stake in the company, owning nearly 29%. The company's co-founders, Subrat Pani and Gagan Maini, collectively own 12.32%.

Cult.fit posts Rs 1,216 Cr revenue and Rs 481 Cr loss in FY25

EntrackrEntrackr · 27d ago
Cult.fit posts Rs 1,216 Cr revenue and Rs 481 Cr loss in FY25
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Fintrackr All Stories Cult.fit posts Rs 1,216 Cr revenue and Rs 481 Cr loss in FY25 Fitness tech company Cult.fit reported over 31% year-on-year growth in operating revenue for the fiscal year ended March 2025, while its losses narrowed by 10% to Rs 481 crore during the period. Mukul Manchanda 15 Dec 2025 16:06 IST Fitness tech company Cult.fit reported over 31% year-on-year growth in operating revenue for the fiscal year ended March 2025, while its losses narrowed by 10% to Rs 481 crore during the period, as the company gears up for an initial public offering (IPO). Cult.fit reported an operating revenue of Rs 1,215.5 crore in FY25 compared to Rs 926.6 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies (RoC). Revenue from fitness subscriptions, including flagship offerings such as Cultpass, Cult.fit centres, and platform services, accounted for 73% of total revenue which increased by 32.7% year-on-year to Rs 889 crore in FY25. The sale of products, including sportswear for men and women as well as other gym and fitness products, contributed Rs 326.4 crore to total revenue, with the segment’s revenue rising 27% compared to FY24. Cult.fit also earned Rs 56.5 crore from other income, including interest on current investments and miscellaneous non-operating sources, taking its total revenue to Rs 1,272 crore in FY25. Coming to expenses, employee benefit costs remained largely flat at Rs 347.4 crore in the last fiscal, including Rs 99.5 crore ESOP expenses. Meanwhile, Cult.fit’s cost of materials rose 31% year-on-year to Rs 521.5 crore in FY25, accounting for nearly 30% of the company’s overall expenses and remaining its largest cost centre. Spending on advertising and promotional expenses remained flat at Rs 202.9 crore in FY25, while depreciation and amortisation costs increased 12% year-on-year to Rs 237.6 crore. Legal and professional expenses, along with finance costs, added another Rs 120.9 crore and Rs 109.5 crore, respectively, to the company’s total expenses. Information technology, travel and other miscellaneous expenses pushed overall costs up by 12% year-on-year to Rs 1,751.6 crore in FY25. In the end, the Bengaluru-based firm’s losses declined by 10% to Rs 480.8 crore in FY25. Its ROCE and EBITDA margins stood at -24.02% and -15.54% respectively whereas its EBITDA (loss) stands at Rs 189 crore in the period. Cult.fit managed to improve its expense-to-earning ratio to Rs 1.44 in the previous fiscal. Its current assets stood at Rs 1,029.5 crore with a cash and bank balance of Rs 240.7 crore in FY25. According to startup data intelligence platform TheKredible, Cult.fit has raised over $675 million to date from investors including Accel, Temasek, Eternal (Zomato), Tata Digital and several others. The Tata Digital-backed company is reportedly aiming to raise Rs 2,500 crore through an initial public offering (IPO) at a valuation of around $2 billion, and has appointed Axis Capital, Jefferies, Goldman Sachs, Morgan Stanley and JM Financial as its bankers.

Nat Habit posts Rs 106 Cr revenue in FY25; losses surge 61%

EntrackrEntrackr · 10d ago
Nat Habit posts Rs 106 Cr revenue in FY25; losses surge 61%
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Nat Habit, which recently rebranded itself as Breathe Life, has continued its growth momentum in the fiscal year ending March 2025 with strong scale expansion but remained in the red due to elevated advertising and operational costs. The company’s revenue from operations grew 47% to Rs 106 crore in FY25 from Rs 72 crore in FY24, according to its financial statements sourced from the Registrar of Companies (RoC). Nat Habit has rebranded itself as Breathe Life, marking a shift in its positioning from a focused Ayurvedic brand to a broader lifestyle proposition. The company sells Ayurvedic personal care products, including shampoo, face wash, and moisturiser. Revenue during the fiscal year came entirely from the sale of these products. On the spending side, advertising expenses remained the biggest cost driver for the company, accounting for 42% of the total expense. This cost surged 61% to Rs 58 crore in FY25 from Rs 36 crore in FY24. Employee benefit expenses rose 71% to Rs 24 crore, while cost of materials grew 75% to Rs 21 crore in FY25. Other overheads, including legal, rent, and miscellaneous expenses pushed the total expenses to Rs 138 crore, up 52% from Rs 91 crore in FY24. Despite strong revenue growth, higher spending led to deeper losses. The company’s net loss rose 61% to Rs 29 crore in FY25 from Rs 18 crore in FY24. Its ROCE and EBITDA margin stood at -52.41% and -26.79% respectively. On a unit level, Nat Habit spent Rs 1.30 to earn every rupee of operating revenue in FY25 as compared to Rs 1.26 in FY24. The Delhi-based company held cash and bank balances of Rs 28 crore, while its current assets stood at Rs 54 crore in FY25. According to TheKredible, Nat Habit has raised a total of approx $16 million of funding to date, having Peak XV Partners, Fireside Ventures, and Whiteboard Capital as its lead investors. The company’s co-founders Swagatika Das and Gaurav Agarwal together own 33.1% of the company. Crossing the Rs 100 crore mark is a key milestone, diluted by the high advertising costs. The portfolio is the kind that has to develop user loyalty after high acquisition costs, and it remains to be seen if FY26 delivers clear signs of that, even at the risk of moderate growth but lower losses.

Healthians posts Rs 263 Cr revenue in FY25; nears breakeven

EntrackrEntrackr · 1m ago
Healthians posts Rs 263 Cr revenue in FY25; nears breakeven
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Healthians posts Rs 263 Cr revenue in FY25; nears breakeven Healthians didn't manage notable growth in the fiscal year ending March 2025. However, the WestBridge-backed company narrowed its losses by 89% year on year and neared break-even during the same period. The firm’s operating revenue increased 8% year-on-year to Rs 263 crore in FY25, up from Rs 243 crore in FY24, as per its consolidated financial statements filed with the Registrar of Companies (RoC). Including non-operating income of Rs 7 crore, the company’s total income grew 7% to Rs 270 crore during the year. Cost optimisation played a key role in supporting the company’s financial recovery. Total expenses declined 8% to Rs 275 crore in FY25, compared to Rs 298 crore last year. Among the major cost heads, employee benefits, the largest expense category, dropped 13% year-on-year to Rs 104 crore in FY25 from Rs 120 crore in FY24. Cost of materials contracted 7% to Rs 54 crore. Advertising costs rose 10% to Rs 43 crore. Meanwhile, depreciation and finance costs remained stable at Rs 29 crore and Rs 15 crore, respectively. The improvement in revenue and control of key expenses helped Healthians bring down its losses sharply by 89% to Rs 5 crore in FY25 from Rs 45 crore in FY24. The firm posted positive EBITDA of Rs 32 crore in FY25 with EBITDA margin of 12.17%. Its ROCE stood at 2.73% in the same period. On a unit basis, the company spent Rs 1.05 to earn a rupee of operating revenue in FY25. The firm’s current assets increased slightly to Rs 170 crore including cash and bank balances worth Rs 49 crore in the fiscal. According to startup data intelligence platform TheKredible, Healthians has raised a total of $75 million of funding till date, having WestBridge, BEENEXT, DG Ventures and Youwecan as its lead investors. The company’s founder and CEO, Deepak Sahni owns 6.5% of the company.

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