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.
entrackr.com
Post
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/
Sponsored