Homexchange posts 22% revenue growth in FY24, trims losses
Mumbai-based proptech firm Homexchange saw a 22% revenue growth in FY24, reaching Rs 2.65 crore from Rs 2.17 crore in FY23. Established in 2020 by Jesal Sanghvi and Shirish Godbole, Homexchange enables homeowners to upgrade properties by exchanging their current homes for new builds from partnered developers. Supported by a Rs 31.95 crore funding round led by Oberoi Realty in 2022, Homexchange is valued at Rs 40 crore, with Oberoi holdi... moreHomexchange posts 22% revenue growth in FY24, trims losses
Mumbai-based proptech firm Homexchange saw a 22% revenue growth in FY24, reaching Rs 2.65 crore from Rs 2.17 crore in FY23. Established in 2020 by Jesal Sanghvi and Shirish Godbole, Homexchange enables homeowners to upgrade properties by exchanging their current homes for new builds from partnered developers. Supported by a Rs 31.95 crore funding round led by Oberoi Realty in 2022, Homexchange is valued at Rs 40 crore, with Oberoi holding over 30% equity. Despite reducing expenses from over Rs 9 crore to Rs 8.47 crore, the company’s losses fell to Rs 5.81 crore in FY24. The EBITDA margin and ROCE remain in negative territory, but efficiency improvements have slightly narrowed the loss gap.
IppoPay witnesses 6X rise in topline in FY23, profits surge
Chennai-based fintech IppoPay experienced a remarkable 6X revenue growth, reaching ₹329.77 crore in FY23, up from ₹48.25 crore in FY22. Founded in 2022 by Mohan Karuppaiah and Jai Kumar, IppoPay operates as a payment aggregator, offering solutions like QR codes, sound boxes, and POS systems. The company has raised ₹17.33 crore in funding across three rounds, with its latest seed round in August 2024, and is valued at over ₹90 crore. Wh... moreIppoPay witnesses 6X rise in topline in FY23, profits surge
Chennai-based fintech IppoPay experienced a remarkable 6X revenue growth, reaching ₹329.77 crore in FY23, up from ₹48.25 crore in FY22. Founded in 2022 by Mohan Karuppaiah and Jai Kumar, IppoPay operates as a payment aggregator, offering solutions like QR codes, sound boxes, and POS systems. The company has raised ₹17.33 crore in funding across three rounds, with its latest seed round in August 2024, and is valued at over ₹90 crore. While revenues soared, expenses also surged 16X to ₹157.38 crore, mainly due to commissions. Profits increased to ₹128.48 crore from ₹28.98 crore in FY22. Despite the growth, the EBITDA margin fell to 53.45%, while ROCE rose to 98.66%.
AVIOM India Housing recorded 53% rise in top scale in FY23
AVIOM India Housing, a Delhi-based fintech firm, saw a 53% revenue increase in FY23, reaching Rs 241.90 crore, driven mainly by interest income. Founded in 2016 by Kaajal Aijaz Ilmi, AVIOM provides housing loans to low-income households in semi-urban areas. Despite a 56% rise in expenses to Rs 219.91 crore, the company achieved a 32% profit growth, posting Rs 16.06 crore in profits. AVIOM has raised Rs 584.31 crore across 10 funding rou... moreAVIOM India Housing recorded 53% rise in top scale in FY23
AVIOM India Housing, a Delhi-based fintech firm, saw a 53% revenue increase in FY23, reaching Rs 241.90 crore, driven mainly by interest income. Founded in 2016 by Kaajal Aijaz Ilmi, AVIOM provides housing loans to low-income households in semi-urban areas. Despite a 56% rise in expenses to Rs 219.91 crore, the company achieved a 32% profit growth, posting Rs 16.06 crore in profits. AVIOM has raised Rs 584.31 crore across 10 funding rounds, with significant shareholders including Gojo & Company Inc. and Capital 4 Development. Its strong financial performance is highlighted by a 59% EBITDA margin and over 11% ROCE, solidifying its market position.
Lahori posted 5X rise in revenue in FY23, profits surge
Punjab-based company Lahori, founded in 2018 by Saurabh Munjal and Nikhil Doda, recorded a revenue of Rs 214.84 crore in FY23, a 5.7x increase from the previous year. Specializing in non-alcoholic beverages like Zeera, Nimboo, Kacha Aam, and Shikanji, Lahori saw 99.523% of its revenue from product sales. Despite a 6x rise in expenses to Rs 202.90 crore, the company achieved a profit of Rs 7.88 crore, a 2.8x increase. In 2022, Lahori raised... moreLahori posted 5X rise in revenue in FY23, profits surge
Punjab-based company Lahori, founded in 2018 by Saurabh Munjal and Nikhil Doda, recorded a revenue of Rs 214.84 crore in FY23, a 5.7x increase from the previous year. Specializing in non-alcoholic beverages like Zeera, Nimboo, Kacha Aam, and Shikanji, Lahori saw 99.523% of its revenue from product sales. Despite a 6x rise in expenses to Rs 202.90 crore, the company achieved a profit of Rs 7.88 crore, a 2.8x increase. In 2022, Lahori raised over Rs 60 crore in Series A funding led by Verlinvest, with key shareholders including Munjal, Bhutna, Doda, and Verlinvest SA. Its EBITDA margin was 14.72%, and ROCE was 5.96%.
Ambrane recorded two fold rise in top scale in FY23
Founded in 2012 by Ashok Rajpal and Sanjay Rajpal, Delhi-based electronics brand Ambrane saw its FY23 revenue soar to Rs 249.96 crore, doubling from Rs 120.75 crore in the previous fiscal year. Ambrane specializes in mobile accessories, audio gadgets, personal care items, and smart devices, with a strong presence in both online and offline markets, including major platforms like Amazon and Flipkart, and retail chains like Croma. Despite this r... moreAmbrane recorded two fold rise in top scale in FY23
Founded in 2012 by Ashok Rajpal and Sanjay Rajpal, Delhi-based electronics brand Ambrane saw its FY23 revenue soar to Rs 249.96 crore, doubling from Rs 120.75 crore in the previous fiscal year. Ambrane specializes in mobile accessories, audio gadgets, personal care items, and smart devices, with a strong presence in both online and offline markets, including major platforms like Amazon and Flipkart, and retail chains like Croma. Despite this revenue boost, expenses also doubled to Rs 249.13 crore, causing profit to plummet by 77% to Rs 51.41 lakh. Key expenses included material costs, advertising, and employee benefits.
EasyRewardz’s revenue spikes 30% in FY23, losses widen 14%
EasyRewardz, a B2B loyalty management platform based in Gurugram, saw a nearly 30% revenue increase, reaching Rs 45.65 crore in FY23. The company's operating revenue rose by 31% to Rs 44 crore, with significant contributions from LPaaS retainer revenue and campaigns. However, expenses also grew by 25% to Rs 65.25 crore, driven mainly by employee benefits and material costs. Despite a 14% increase in losses to Rs 19.6 crore, EBITDA impro... moreEasyRewardz’s revenue spikes 30% in FY23, losses widen 14%
EasyRewardz, a B2B loyalty management platform based in Gurugram, saw a nearly 30% revenue increase, reaching Rs 45.65 crore in FY23. The company's operating revenue rose by 31% to Rs 44 crore, with significant contributions from LPaaS retainer revenue and campaigns. However, expenses also grew by 25% to Rs 65.25 crore, driven mainly by employee benefits and material costs. Despite a 14% increase in losses to Rs 19.6 crore, EBITDA improved to -37.67%, though ROCE declined to -1,007.89%. The company, led by Soumya Chatterjee, Angad Singh, and Tejas Kadakia, secured Series B funding from IIFL Finance in 2022.
Juicy Chemistry’s scale dwindles 21% in FY23, losses rise 11%
Juicy Chemistry, a skin and personal care brand, saw a 21% revenue drop to Rs 19.7 crore in FY23, with operating revenue falling 24% to Rs 18 crore. Despite reduced expenses (down 14% to Rs 28 crore), losses rose 11% to Rs 8.2 crore. Key costs included advertising (33%), materials (25%), and employee benefits (10%). Founded by Megha Desai Asher, the brand competes with Sugar Cosmetics, Mamaearth, and Plum. Major stakeholders include ... moreJuicy Chemistry’s scale dwindles 21% in FY23, losses rise 11%
Juicy Chemistry, a skin and personal care brand, saw a 21% revenue drop to Rs 19.7 crore in FY23, with operating revenue falling 24% to Rs 18 crore. Despite reduced expenses (down 14% to Rs 28 crore), losses rose 11% to Rs 8.2 crore. Key costs included advertising (33%), materials (25%), and employee benefits (10%). Founded by Megha Desai Asher, the brand competes with Sugar Cosmetics, Mamaearth, and Plum. Major stakeholders include its Promoters, Amit Nanavati, Verlinvest, and Purplle.
Trendlyne’s scale grew 50% in FY23, profits dwindle 15%
Bengaluru-based stock market research platform Trendlyne saw significant growth in FY23, with revenue rising 60% to Rs 7.9 crore compared to the previous fiscal year. Operating revenue increased by 55%, driven entirely by service sales, which contributed over 96% of total revenue. Despite expenses nearly doubling to Rs 7.13 crore, the firm maintained profitability, with FY23 profits at Rs 55.5 lakhs, though down 15% from FY22. Trendlyne wa... moreTrendlyne’s scale grew 50% in FY23, profits dwindle 15%
Bengaluru-based stock market research platform Trendlyne saw significant growth in FY23, with revenue rising 60% to Rs 7.9 crore compared to the previous fiscal year. Operating revenue increased by 55%, driven entirely by service sales, which contributed over 96% of total revenue. Despite expenses nearly doubling to Rs 7.13 crore, the firm maintained profitability, with FY23 profits at Rs 55.5 lakhs, though down 15% from FY22. Trendlyne was founded by Amber Pabreja and is funded by investors like IIFL Finance.
FinBox recorded over two fold rise in scale in FY23
Mumbai-based fintech firm FinBox more than doubled its revenue to Rs 36.2 crore in FY23, with 91% from operations. Founded by Rajat Deshpande, Anant Deshpande, and Nikhil Bhawsinka, FinBox offers digital credit products and credit intelligence. Despite raising Rs 116 crore in 2022, expenses surged to Rs 59 crore, leading to a 21-fold increase in losses to Rs 23 crore.
Mumbai-based fintech firm FinBox more than doubled its revenue to Rs 36.2 crore in FY23, with 91% from operations. Founded by Rajat Deshpande, Anant Deshpande, and Nikhil Bhawsinka, FinBox offers digital credit products and credit intelligence. Despite raising Rs 116 crore in 2022, expenses surged to Rs 59 crore, leading to a 21-fold increase in losses to Rs 23 crore.
Tirex Chargers posted 67% hike in scale in FY23, losses drop 70%
Tirex Chargers, an EV charging company in Ahmedabad, experienced a 67% revenue increase to Rs 13.3 crore in FY23. Offering AC and DC chargers from 7kW to 360kW, it serves various vehicles and has installed 10,000 kW chargers for clients like Foton and Olectra. Despite a 68% rise in expenses, it maintained revenue parity, supported by a Seed round of Rs 15 crore in 2022. Visit - https://thekredible.com/blogs/tirex-chargers-posted-... moreTirex Chargers posted 67% hike in scale in FY23, losses drop 70%
Tirex Chargers, an EV charging company in Ahmedabad, experienced a 67% revenue increase to Rs 13.3 crore in FY23. Offering AC and DC chargers from 7kW to 360kW, it serves various vehicles and has installed 10,000 kW chargers for clients like Foton and Olectra. Despite a 68% rise in expenses, it maintained revenue parity, supported by a Seed round of Rs 15 crore in 2022. Visit - https://thekredible.com/blogs/tirex-chargers-posted-67-hike-in-scale-in-fy23-losses-drop-70
