🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Wealthy’s revenue shots up over 2X with sound economics

EntrackrEntrackr · 1y ago
Wealthy’s revenue shots up over 2X with sound economics
Medial

Wealthtech platform Wealthy has grown over two-fold in the fiscal year ending March 2024. Moreover, the Bengaluru-based startup also brought down losses by one-fourth in FY24 as compared to FY23. Wealthy’s revenue from operations increased 2.3X to Rs 8.94 crore in FY24, its consolidated financial statement with the RoC shows. Wealthy provides investment management and tracking tools for retail investors, along with advisory services. It claims to have facilitated over Rs 4,500 crore of investments through its platform, with income from service sales as its sole source of operating revenue. Looking at expenses, employee benefits accounted for 50% of Wealthy’s total costs, decreasing by 21% to Rs 13 crore in FY24. Depreciation made up 20% of the cost and doubled in FY24. Commissions paid to vendors represented 11% of expenses, while marketing accounted for 5.2%. Overall, its total costs decreased by 5.6% to Rs 25.7 crore in FY24. The Good Capital-backed firm reported a loss of Rs 16.75 crore in FY24, down by 25%. Its ROCE stood at -33.06%, and EBITDA margin at -60.64%. Wealthy spent Rs 3.03 to generate a rupee in operating income. FY23-FY24 FY23 FY24 EBITDA Margin -392.09% -128.64% Expense/₹ of Op Revenue ₹7.63 ₹3.03 ROCE -60.64% -33.06% Wealthy has raised a total of Rs 117.27 crore including Rs 45 crore in Series B round led by Falcon Edge’s Alpha Wave Incubation Fund. According to startup data intelligence platform TheKredible, Alpha Wave is the largest stakeholder with close to 23% as of the firm’s Series A round. Wealthtech in India is experiencing significant growth, with startups raising over $200 million in the past year, as reported by TheKredible. Leading the way is Peak XV-backed Neo, which secured $48 million. Mumbai’s Dezerv followed with $32 million in Series B funding, while Singapore’s Syfe raised $27 million from its tech hub in Gurugram. Other noteworthy fundraisers include Stable Money, Fisdom, InvestorAi, Wealthy, Powder, Infynite Club, and Vijya Fintech.

Related News

Wealthy’s revenue surges 72% in FY25, losses touch Rs 35 Cr

EntrackrEntrackr · 19d ago
Wealthy’s revenue surges 72% in FY25, losses touch Rs 35 Cr
Medial

Wealthy, an investment advisory and wealth management platform, achieved a 72% year-on-year increase in scale during FY25. This came after a two-fold expansion in the preceding fiscal year (FY24), showing the firm's continued growth momentum. Wealthy’s revenue from operations grew to Rs 25 crore in FY25 from Rs 14.5 crore in FY24, according to its financial statements sourced from the Registrar of Companies (RoC). Revenue from brokerage services was its largest stream which accounted for 56% of the total income. This income more than doubled to Rs 14 crore in FY25 from Rs 6.3 crore in FY24. Revenue from advisory services brought in Rs 9 crore, a 24% year-on-year increase, while commission income surged 110% to Rs 2 crore during the period. Wealthy also reported Rs 10 crore as non-operating income, pushing its total income to Rs 35 crore in FY25. Employee benefit expenses remained its largest cost center, forming over 53% of the total expenses. This cost grew 23% to Rs 37 crore in FY25 from Rs 30 crore in FY24. Legal and professional fees more than doubled to Rs 9 crore, while commission costs increased 69% to Rs 7.6 crore. Advertising spend also saw a sharp rise of 92% to Rs 2.5 crore in the last fiscal year. Overall, Wealthy’s total expenditure rose 41% year-on-year to Rs 70 crore in FY25 from Rs 49.5 crore in the previous fiscal year. The AWI-backed company recorded a net loss of Rs 35 crore in the last fiscal year, which went up by 46% from Rs 24 crore in FY24. Its ROCE and EBITDA margin stood at -155.17% and -152%, respectively. On a unit level, the firm spent Rs 2.8 to earn a rupee of operating revenue during FY25, compared to Rs 3.41 in FY24. As of March 2025, the Bengaluru-based firm recorded current assets worth Rs 17.5 crore including Rs 7 crore in cash and bank balance. According to startup data intelligence platform TheKredible, Wealthy has raised a total of Rs 117.27 crore including Rs 45 crore in Series B round led by Falcon Edge’s Alpha Wave Incubation Fund which is the largest stakeholder with close to 23% as of the firm’s Series A. Its co-founders Aditya Agarwal and Prashant Gupta together own 34.5% of the company.

Exclusive: Chai Shots to raise $5 Mn from General Catalyst and InfoEdge

EntrackrEntrackr · 5m ago
Exclusive: Chai Shots to raise $5 Mn from General Catalyst and InfoEdge
Medial

Exclusive: Chai Shots to raise $5 Mn from General Catalyst and InfoEdge Hyderabad-based microdrama over the top (OTT) platform Chai Shots is raising $5 million in its maiden funding round, two sources aware of the development told Entrackr. “General Catalyst along with Info Edge are in advanced stages of closing a new funding round in Chai Shots,” said a source requesting anonymity. “A few angel investors may also participate.” Chai Shots is a short-video streaming platform with episodes under two minutes, available in several Indian languages. The platform is created by the team behind Chai Bisket, a popular digital media and storytelling company. The Chai Bisket team has built a content ecosystem over nine years, covering reels, podcasts, films, and regional stories through platforms like First Show, Mutiny Talent, Studio Panchatantra, and Chai Shots. The Chai Shots platform is still being developed and is expected to launch soon. “The official launch and funding announcement might take a few weeks,” said another source. The person also mentioned that interest in this space is growing, and a few more startups are likely to raise funds soon. Earlier this week, Flick TV, a similar startup, raised $2.3 million in seed funding led by Stellaris Venture Partners, with participation from Gemba Capital and Titan Capital. Chai Shots will also face competition from Kuku FM’s Kuku TV, ShareChat’s QuickTV, Reel Saga, and Reelies. Queries sent to Chai Shots, General Catalyst, and Info Edge did not elicit a response until publication of the story.

Download the medial app to read full posts, comements and news.