INDmoney Reports Impressive Growth in Revenue and Investments

Wealth management and investing platform INDmoney has achieved significant milestones, with its operating revenue increasing more than twofold in FY25. Nonetheless, the company’s losses have also grown as it invested heavily in various areas including trading, lending, and establishing a global investing framework.

As per the financial disclosures from the company, INDmoney’s operating revenue soared to Rs 164 crore in FY25, marking a 2.3X increase compared to Rs 70 crore in FY24. The total revenue saw a 67% rise, reaching Rs 214 crore during the same timeframe.

Revenue Generation and Investment Strategy

In contrast to many trading-led brokerages, INDmoney indicated that less than 10% of its revenue in FY25 derived from futures and options (F&O) trading. The majority of earnings stem from the behaviour of long-term investors. Currently, approximately 85% of INDmoney’s revenue exhibits characteristics akin to annuity or perpetuity. This is driven by recurring investments, long-term asset retention, and repeated product usage.

According to the company, revenue is generated across various segments, including Indian and US equities, cross-border remittances, wealth management services, secured lending, insurance, and an array of financial products. Recently, the company launched trading services through a dedicated platform called INDstocks.

Financial Performance Overview

On the financial front, INDmoney’s cash losses expanded to Rs 76 crore in FY25 from Rs 32 crore in FY24. The company attributed this increase in losses primarily to upfront investments made during the year. These investments encompassed the development of a comprehensive Indian trading infrastructure, enhancement of global investing options via GIFT City, establishment of in-house lending mechanisms for its NBFC operations, bolstering compliance and technology frameworks, as well as increased user acquisition costs associated with INDstocks.

Since its launch in 2019, INDmoney has successfully raised $133 million. The latest round of funding, which amounted to $75 million, occurred in January 2022 and valued the company at over $600 million.