Super.money has significantly increased its operating revenue in FY26, tripling the amount as it enhanced its UPI payments and credit marketplace operations. However, this growth came with a hefty price tag, leading to a 78% rise in the company’s losses for the fiscal year that concluded in March 2026.
The operational revenue for Super.money surged to Rs 292 crore in FY26, up from Rs 89 crore in FY25, as reported in its annual financial statements obtained from the Registrar of Companies (RoC). The primary focus of Super.money lies in UPI payments and credit marketplace services. The platform enables digital payments and connects merchant platform customers with banks and non-banking financial companies (NBFCs) for loan assistance, generating revenue through loan facilitation services.
Revenue Streams
The loan marketplace was a significant contributor, accounting for Rs 248 crore, or approximately 85% of the overall operating revenue. The remaining income was generated from various other ventures.
Expenses and Losses
As a marketplace-driven operation, Super.money’s most significant expenditure is on customer acquisition and brand promotion. In FY26, the company allocated Rs 341 crore for marketing, representing around 61% of its total spending. Employee benefit expenses also saw a substantial increase of 75%, reaching Rs 139 crore during the fiscal year. Additional costs, encompassing marketplace fees, legal expenses, telephone, postage, and general overheads, led to a total expenditure rise of 130%, increasing from Rs 242 crore in FY25 to Rs 557 crore in FY26.
The marketing expenditure alone surpassed the company’s entire operational revenue for the fiscal year, resulting in a net loss that expanded by 78% to Rs 264 crore in FY26 from Rs 148 crore in the previous fiscal year. On average, Super.money spent Rs 1.91 to generate every rupee of revenue in FY26, with an EBITDA margin of -85.43% for the year. By March 2026, the firm held total current assets amounting to Rs 136 crore, including cash and bank balances of Rs 63 crore.
Market Position
According to data from the National Payments Corporation of India (NPCI), Super.money stands as the fifth-largest UPI player by transaction volume, having processed 405.14 million transactions worth Rs 19,613.29 crore in September. It represented 1.68% of the total UPI transaction volume and 0.67% of the transaction value during that month.
Expansion into E-commerce
Alongside its payments and credit services, Super.money has ventured into e-commerce with the launch of splitStore, an in-app marketplace that enables users to shop across various categories while paying in zero-interest installments, with deliveries managed via Flipkart’s logistics network.
In September 2026, Super.money also appointed Rohan Khara as its chief product officer, previously holding a similar role at BharatPe, as the company seeks to broaden its services in payments, credit, and commerce. Khara’s prior experience includes senior positions at FairMoney, Gojek, and MobiKwik.
Future Considerations
The financial data from Super.money illustrates the challenges linked with establishing a robust payments and credit business where customer acquisition is fundamental for expansion. While the revenue growth is notable, the marketing expenditures that exceed operational revenue raise concerns regarding the effectiveness of the company’s spending strategy. The move into commerce and installment-based shopping could potentially generate new revenue channels, but the company must translate its increasing user base into profitable outcomes. The pivotal question remains whether scalability can enhance unit economics without exacerbating losses.