Cashfree posts Rs 614 Cr revenue in FY23; losses widen
Cashfree, backed by State Bank of India, reported a 75.43% growth in operating scale in FY23, with revenue reaching Rs 614 crore. However, losses surged to Rs 133 crore from Rs 3 crore in FY22 due to a substantial increase in employee benefits and payment processing costs. The company's primary revenue source is commissions from merchants, rising 75% to Rs 613.29 crore. With expenses doubling, including a 2.1X increase in payment processing charges, Cashfree faced losses attributed to investments in R&D and market share growth.
#Entrackr #Fintrackr #News #Cashfree #Startups #StartupNews #IndianStartups
https://entrackr.com/2024/01/cashfree-posts-rs-614-cr-revenue-in-fy23-losses-widen/
Cashfree, backed by State Bank of India, reported a 75.43% growth in operating scale in FY23, with revenue reaching Rs 614 crore. However, losses surged to Rs 133 crore from Rs 3 crore in FY22 due to a substantial increase in employee benefits and payment processing costs. The company's primary revenue source is commissions from merchants, rising 75% to Rs 613.29 crore. With expenses doubling, including a 2.1X increase in payment processing charges, Cashfree faced losses attributed to investments in R&D and market share growth.
#Entrackr #Fintrackr #News #Cashfree #Startups #StartupNews #IndianStartups
https://entrackr.com/2024/01/cashfree-posts-rs-614-cr-revenue-in-fy23-losses-widen/
State Bank of India-backed online payments processor and aggregator Cashfree recorded 75.43% growth in its operating scale in FY23.
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BluSmart raises $24 Mn from existing investors, founders and leadership team
BluSmart Mobility, an EV ride-hailing service and charging infrastructure operator, raised $24 million in an equity round with over-subscription from existing investors, founders, and leadership. The company, challenging Ola and Uber, operates over 4,000 EV chargers across 34 hubs in Delhi-NCR and Bengaluru. With plans to scale its fleet to 8,000 EVs, BluSmart reported crossing $50 million in annual revenue run-rate, growing over 100% YoY, despite losses increasing to Rs 65.4 crore in FY22 as per TheKredible.
#Entrackr #Fintrackr #BluSmart #Startups #StartupNews #News #thekredible #IndianStartups
https://entrackr.com/2023/12/blusmart-raises-24-mn-from-existing-investors-founders-and-leadership-team/
BluSmart Mobility, an EV ride-hailing service and charging infrastructure operator, raised $24 million in an equity round with over-subscription from existing investors, founders, and leadership. The company, challenging Ola and Uber, operates over 4,000 EV chargers across 34 hubs in Delhi-NCR and Bengaluru. With plans to scale its fleet to 8,000 EVs, BluSmart reported crossing $50 million in annual revenue run-rate, growing over 100% YoY, despite losses increasing to Rs 65.4 crore in FY22 as per TheKredible.
#Entrackr #Fintrackr #BluSmart #Startups #StartupNews #News #thekredible #IndianStartups
https://entrackr.com/2023/12/blusmart-raises-24-mn-from-existing-investors-founders-and-leadership-team/
BookMyShow posts Rs 1,026 Cr income and Rs 85 Cr profit in FY23
BookMyShow is an outlier and its comeback after the pandemic sets the company apart from other late-stage firms. During the pandemic (FY21), the firm’s revenue nose-dived to Rs 74 crore as multiplexes and other offline entertainment shows were restricted but it bounced back with a staggering 13X growth in the last two fiscal years (FY22 & FY23) and also posted a hefty profit in the fiscal year ending March 2023. BookMyShow’s revenue from operations surged 3.5X to Rs 976 crore in FY23 from Rs 277 crore in FY22, its consolidated financial statements sourced from the Registrar of Companies show.
#Entrackr #Fintrackr #Bookmyshow #Startups #StartupNews #News #IndianStartups
https://entrackr.com/2023/12/bookmyshow-posts-rs-1026-cr-income-and-rs-85-cr-profit-in-fy23/
BookMyShow is an outlier and its comeback after the pandemic sets the company apart from other late-stage firms. During the pandemic (FY21), the firm’s revenue nose-dived to Rs 74 crore as multiplexes and other offline entertainment shows were restricted but it bounced back with a staggering 13X growth in the last two fiscal years (FY22 & FY23) and also posted a hefty profit in the fiscal year ending March 2023. BookMyShow’s revenue from operations surged 3.5X to Rs 976 crore in FY23 from Rs 277 crore in FY22, its consolidated financial statements sourced from the Registrar of Companies show.
#Entrackr #Fintrackr #Bookmyshow #Startups #StartupNews #News #IndianStartups
https://entrackr.com/2023/12/bookmyshow-posts-rs-1026-cr-income-and-rs-85-cr-profit-in-fy23/
Ustraa reports Rs 100 Cr revenue and Rs 40 Cr loss in FY23
Men’s grooming startup Ustraa was acquired by Carlyle-owned wellness and beauty company VLCC at a 40% valuation cut in July this year. The company grew decently in terms of scale but its losses continued to widen in FY23. While we will look at its expenses and losses in the second half of the story, for now let’s look at its avenues of revenue and their growth.
Ustraa’s revenue from operations grew by 47% to Rs 97 crore in FY23, according to its annual financial report with the Registrar of Companies.
#Ustraa #Entrackr #Fintrackr #Startup #StartupNews #News #Carlyle
https://entrackr.com/2023/11/ustraa-reports-rs-100-cr-revenue-and-rs-40-cr-loss-in-fy23/
Men’s grooming startup Ustraa was acquired by Carlyle-owned wellness and beauty company VLCC at a 40% valuation cut in July this year. The company grew decently in terms of scale but its losses continued to widen in FY23. While we will look at its expenses and losses in the second half of the story, for now let’s look at its avenues of revenue and their growth.
Ustraa’s revenue from operations grew by 47% to Rs 97 crore in FY23, according to its annual financial report with the Registrar of Companies.
#Ustraa #Entrackr #Fintrackr #Startup #StartupNews #News #Carlyle
https://entrackr.com/2023/11/ustraa-reports-rs-100-cr-revenue-and-rs-40-cr-loss-in-fy23/
XpressBees acquires courier firm Trackon
XpressBees has acquired the logistics and supply chain firm, Trackon. The deal also marks the first acquisition for the e-commerce-focused logistics startup since its inception in 2015. Last month, Entrackr exclusively reported about the development.
#XpressBees #Startup #news #fintrackr
https://entrackr.com/2023/08/xpressbees-acquires-courier-firm-trackon/
XpressBees has acquired the logistics and supply chain firm, Trackon. The deal also marks the first acquisition for the e-commerce-focused logistics startup since its inception in 2015. Last month, Entrackr exclusively reported about the development.
#XpressBees #Startup #news #fintrackr
https://entrackr.com/2023/08/xpressbees-acquires-courier-firm-trackon/
Easebuzz’s scale doubles to Rs 230 Cr in FY23; remains profitable
Easebuzz, a company in the payments infrastructure industry, said it doubled its operating scale during FY23, and it appears that the Payment Aggregator license it acquired in August 2022 may have been a key factor in this expansion.
#Startup #News #Easebuzz’s #Fintrackr #StartupNews
https://entrackr.com/2023/07/easebuzzs-scale-doubles-to-rs-230-cr-in-fy23-remains-profitable/
Easebuzz, a company in the payments infrastructure industry, said it doubled its operating scale during FY23, and it appears that the Payment Aggregator license it acquired in August 2022 may have been a key factor in this expansion.
#Startup #News #Easebuzz’s #Fintrackr #StartupNews
https://entrackr.com/2023/07/easebuzzs-scale-doubles-to-rs-230-cr-in-fy23-remains-profitable/
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