From the blessing of Indian fintech unicorns, CRED took the top spot in marketing expenditure, followed by PhonePe and PB Fintech
Among fintech soonicorns, Navi racked up the highest marketing bill, followed by KreditBee and Rupeek
Nine fintech unicorns spent an amount equivalent to more than 50% of their revenue from operations on advertising and marketing
While some companies try to hide their advertising spending by burying it deep in their financial statements or not reporting it as a separate entry, advertising and promotion are often considered necessary parts of doing business.
Startups competing with major established players and, in some cases, trying to induce new habits in customers, for instance in the fintech sector, need to spend on advertising to attract and gain customers. It is difficult, if not impossible, to build a business without doing so.