OneAssist Financial Performance FY25: A 22% Revenue Growth

OneAssist, backed by Peak XV, has shown remarkable financial performance in FY25, achieving a 22% revenue increase to surpass Rs 600 crore. The Mumbai-based enterprise witnessed a significant 56% decline in losses during this time.

Revenue Growth and Operating Results

In the last fiscal year (FY25), OneAssist’s operating revenue rose by 22%, reaching Rs 623 crore, compared to Rs 509 crore in FY24. These figures come from the provisional financial report reviewed by Startup Superb. OneAssist provides crucial assistance and protection services to customers regarding their wallets, cards, mobile devices, and gadgets.

Services Offered

The company asserts its coverage against card frauds, including skimming, phishing, online ATM fraud, and PIN fraud. Furthermore, it provides free replacement services for PAN cards and driving licenses.

Financial Overview

OneAssist earned an extra Rs 21 crore from non-operating sources, elevating its total income to Rs 644 crore in FY25 from Rs 513 crore in FY24. Concerning expenditures, the firm reported finance costs of Rs 44 lakh in FY25, a decrease of 50% from Rs 83 lakh in FY24. Meanwhile, depreciation and amortisation costs saw a slight increase, amounting to Rs 34.5 crore.

Expenses Breakdown

The company limited its disclosure on the expense details beyond these figures. Overall, total expenses increased by 21% to Rs 652 crore in FY25, compared to Rs 538 crore in FY24. OneAssist reported a net loss of Rs 11 crore in FY25, which is a dramatic 56% reduction from the Rs 25 crore loss in FY24.

Profitability Metrics

Despite the net loss, the company reported a positive EBITDA of Rs 26 crore for the year, translating into an EBITDA margin of 4.10%. On a per-unit basis, OneAssist spent Rs 1.05 to earn a rupee in FY25, compared to Rs 1.06 in FY24. Its ROCE stood at -8.64%.

Current Assets

The Mumbai-based company listed current assets totaling Rs 496 crore in FY25, which includes Rs 134 crore in cash and bank balances. Built on a structure similar to CPP India, where Gagan Maini previously served as CEO, OneAssist has outpaced its parent firm and may emerge as a leading candidate to take over CPP India’s operations, which have been put up for sale by the British parent company.

Ownership Structure

According to multiple sources, Peak XV (formerly Sequoia Capital) is the largest stakeholder in OneAssist, possessing nearly 29% of shares. The company’s co-founders, Subrat Pani and Gagan Maini, hold a combined 12.32% ownership.