NEW DELHI: Fintech unicorn BharatPe on Tuesday said it has turned Ebitda positive in October. Ebitda refers to earnings before interest, taxes, depreciation and amortisation and is a metric of operational profitability.
With investors getting selective in terms of fund allocation into companies and pressing portfolio firms to become financially prudent, startups are trying to rein in expenses and move towards profitability.”The company has significantly cut down its burn, which was averaging at Rs 60 crore per month in FY23, to attain Ebitda positivity,” BharatPe said in a statement.
The company claimed that all its verticals have delivered decent growth, helping the startup surpass Rs 1,500 crore in revenues, a growth of 31% over FY23. In October, BharatPe’s lending segment disbursed over Rs 640 crore worth of loans to merchants in partnership with its NBFC partners, while the payments business recorded total payment volume (TPV) of more than Rs 14,000 crore, the firm said.
“Our digital payments vertical grew considerably, boasting a monthly (October) transaction count exceeding 37 crores. In coming months, we will continue to focus on scaling lending, and soundbox businesses,” said Nalin Negi, CFO and interim CEO.
With investors getting selective in terms of fund allocation into companies and pressing portfolio firms to become financially prudent, startups are trying to rein in expenses and move towards profitability.”The company has significantly cut down its burn, which was averaging at Rs 60 crore per month in FY23, to attain Ebitda positivity,” BharatPe said in a statement.
The company claimed that all its verticals have delivered decent growth, helping the startup surpass Rs 1,500 crore in revenues, a growth of 31% over FY23. In October, BharatPe’s lending segment disbursed over Rs 640 crore worth of loans to merchants in partnership with its NBFC partners, while the payments business recorded total payment volume (TPV) of more than Rs 14,000 crore, the firm said.
“Our digital payments vertical grew considerably, boasting a monthly (October) transaction count exceeding 37 crores. In coming months, we will continue to focus on scaling lending, and soundbox businesses,” said Nalin Negi, CFO and interim CEO.
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