In FY24, cashless losses increased by 2.17% while revenue increased by 4.19%.

OVERVIEW In the fiscal year 2023-24 (FY24), Cashfree Payments' net loss increased by 2.17% to INR 136 Cr from INR 133.1 Cr in the prior fiscal year. In the meantime, the company's operational revenue climbed from the reported INR 613.6 Cr in FY23 to INR 639.3 Cr in the year under review, a 4.19% rise. The Reserve Bank of India recently granted the business a prepaid payment instrument (PPI) license, enabling it to make purchases and transfer funds against a preset value.CashfreeCashfree Datalabs_in-article-icon Fintech platform In the fiscal year 2023-24 (FY24), Payments' net loss increased by 2.17% to INR 136 Cr from INR 133.1 Cr in the prior fiscal year.

From the reported INR 613.6 Cr in FY23 to INR 639.3 Cr in the year under review, the startup's operating revenue grew by 4.19%.A full-stack digital payments solution platform, Cashfree was founded in 2015 by Akash Sinha and Reeju Datta. It provides API banking solutions and makes it possible for companies to collect payments. The majority of the startup's revenue comes from commission income, which is derived mostly from the sale of services. With support from Y Combinator, State Bank of India, Apis Partners, and other investors, the firm has raised more than $40 million in total capital to date. It faces competition from companies like PayU, Bill Desk, and Razorpay. The Reserve Bank of India recently granted the business a prepaid payment instrument (PPI) license, enabling it to make purchases and transfer funds against a preset value.