Innoviti Trims FY25 Loss By 12% To INR 62 Cr

IPO-bound fintech startup Innoviti managed to cut its FY25 losses by 12% to INR 62.1 Cr from INR 70.5 Cr loss incurred in the previous fiscal year. The improvement in the bottom line comes at the behest of a notable uptick in the startup’s top line and an improvement in its margins. 

In the fiscal, the digital payments solutions provider’s operating revenue zoomed 35.1% to INR 142.6 Cr from INR 105.6 Cr in FY24. In this, Innoviti Genie, which is its sales acceleration software, accounted for 58% of the total operating revenue for the fiscal year, becoming the largest product offering of the brand.

Aside from Innoviti Genie, the company also owns two other products — revenue assurance software Innoviti Unipay and payment collection app Innoviti Link. In the fiscal, the startup discontinued operations of its SME-focussed payment processing and credit distribution subsidiary Innoviti SME Lending Pvt Ltd.

Including an other income of INR 1.9 Cr, Innoviti recorded a total income of INR 144.5 Cr, up 32% from previous fiscal. 

Founded in 2002 by Rajeev Agrawal and Amrita Malik, Innoviti enables merchants to accept payments and integrate real-time sales data into critical business processes. 

It claims to process over INR 80,000 Cr of gross transaction volume (GTV) annually from across 2,000 Indian cities and over 20,000 merchants. Its clients include More Retail, Tanishq, Shoppers Stop, Samsung and Reliance Retail, among others as its clients.

Since its inception, Innoviti has raised over $100 Mn in funding to date, and counts Bessemer Venture Partners, FMO, Catamaran Ventures, among others, as its investors.

Notably, the startup is planning to launch its initial public offering (IPO) by 2026. In January, CEO Agrawal said that the startup would be focussing on attaining profitability in the upcoming quarters pursuant to which it would initiate planning the IPO. There haven’t been any new developments on that front since then. 

Where Did Innoviti Spend In FY25?

In line with the growth in its revenue, Innoviti’s expenses for the fiscal rose 15% to INR 206.6 Cr from INR 179.6 Cr in FY24. Here are some of the key expenses for the startup: 

Subvention and Service Fees: The spending under this head surged 88% to INR 82.5 Cr in FY25 from INR 43.9 Cr in the previous financial year. Of the overall expenditure, service costs comprised 40%, marking the highest expense.

Employee Benefit Expenses: Employee costs, which include salaries, provident fund, gratuity, among others, fell by 19% to INR 43 Cr in the reported year, from INR 52.9 Cr in FY24. Further, it accounted for 21% of the overall expenses in FY25.

Depreciation, Amortisation and Impairment Costs: The startup spent INR 32.6 Cr on depreciation and amortisation in the fiscal year under review, a 33% rise from INR 24.6 Cr in FY24.