Cashfree's FY25 Loss Widens 14% To INR 154 Cr As Revenue Slips

SUMMARY

Fintech soonicorn Cashfree Payments’ net loss for the fiscal year FY25 widened 14% to INR 154.1 Cr from INR 135 Cr in FY24 at the behest of flattening of its top line and slight increase in expenses

In FY25 , the fintech startup’s operating revenue stood at INR 640 Cr, marginally down from INR 642.7 Cr in the previous fiscal

Notably, Cashfree’s EBITDA loss widened to INR 131 Cr in FY25, compared to a loss of INR 109.5 Cr in FY24, pushing its EBITDA margin further into the negative at -20% from -17% a year ago

In FY25, the fintech startup’s operating revenue stood at INR 640 Cr, marginally down from INR 642.7 Cr in the previous fiscal. Including an other income of INR 67 Lakh, the company’s total income for the period stood at INR 640.7 Cr.

Founded in 2015 by Akash Sinha and Reeju Datta, Cashfree Payments offers digital payment solutions like payment gateway, payout solutions, and banking APIs. It claims to have served over 8 Lakh businesses since inception, processing transactions worth $80 Bn annually. Its clientele features the likes of MakeMyTrip, Zomato, CRED, Delhivery, among others.

A large part of the startup’s operating revenue comes from its payment gateway commission, which raked in INR 480.8 Cr in FY25. Further, commission income from other services amounted to INR 103.2 Cr in the fiscal year. Besides, it also registered an income of INR 55.3 Cr from payouts commission.

Notably, Cashfree’s EBITDA loss widened to INR 131 Cr in FY25, compared to a loss of INR 109.5 Cr in FY24, pushing its EBITDA margin further into the negative at -20% from -17% a year ago.

Notably, in February 2025, Cashfree also secured $53 Mn (about INR 4,400 Cr) in a strategic round led by South Korea’s KRAFTON with participation from existing backer Apis Growth Fund II.

Zooming Into Expenses

The startup’s total expenditure rose 2% to INR 794.6 Cr in FY25 from INR 779.4 Cr in FY24.

Marketing & Promotion: Cashfree’s marketing expenses jumped sharply to INR 20.4 Cr in FY25 from INR 7.8 Cr in FY24, marking a 162% increase.

Employee Benefit Expenses: The startup spent INR 243.3 Cr on salaries, incentives and employee-related costs, down slightly from INR 244.9 Cr spent in FY24.

Travelling Conveyance: The expenses under this head grew 34.4% to INR 41.8 Cr from INR 31.1 Cr in the previous fiscal.