Cashfree Payments: Boosting Growth and Revenue in FY26

Cashfree Payments has emerged strongly in FY26 following a stable performance in FY25, with its operating scale increasing by 51% year-on-year to nearly Rs 1,000 crore. During the same period, the company’s losses decreased by 23%.

The consolidated financial statements submitted to the Registrar of Companies (RoC) reveal that Cashfree’s operational revenue soared to Rs 967 crore in FY26, up from Rs 640 crore in FY25.

Founded in 2015 by Akash Sinha and Reeju Datta, Cashfree Payments facilitates online payment collection, payout processing, conversion enhancement, and KYC as well as fraud detection efficiency. The firm handles up to 12,000 transactions every second and manages an annual volume exceeding $80 billion, serving over a million businesses across diverse sectors.

Cashfree has also successfully obtained all three RBI payments licenses: Payment Aggregator (PA-PG), Payment Aggregator-Cross Border (PA-CB), and Prepaid Payment Instrument (PPI).

Payment gateway commissions were the primary revenue source, making up 92% of operating revenue in FY25. This segment experienced an 85% increase in FY26, with revenues escalating to Rs 890 crore from Rs 481 crore in FY25. Payout commissions grew to Rs 69 crore, and cross-border payment commissions added another Rs 8 crore. Including roughly Rs 5 crore in other income, the Bengaluru-based entity recorded a total income of Rs 972 crore in FY26.

For this fintech company, payment gateway processing costs accounted for 64% of total expenses, which surged by 66% to Rs 698 crore in FY26. Employee benefits costs witnessed a slight decline to Rs 239 crore, while advertising and marketing expenses reduced by 10% year-on-year to Rs 18 crore. Other costs, including depreciation, finance charges, rent, domain fees, reseller commissions, and software expenditures, increased Cashfree’s overall costs by 37% to Rs 1,091 crore in FY26.

The substantial growth in payment gateway commissions, alongside an expanding merchant base and enhanced management of operating expenses, contributed to a 23% reduction in losses to Rs 119 crore in FY26 from Rs 154 crore in FY25.

The Y Combinator-supported company’s EBITDA stood at Rs 90.5 crore in FY26, with an EBITDA margin improving to -9.36%. In terms of unit economics, Cashfree spent Rs 1.13 to earn each rupee of operating revenue.

As of March 2026, Cashfree’s total current assets reached Rs 1,891 crore, which included a cash and bank balance of Rs 22 crore. The company has raised $95 million from investors such as Y Combinator, Smilegate Investments, and State Bank of India, which included a $53 million funding round led by Krafton in February last year.

Recently, Cashfree appointed Sameer Gandhi as the new Chief Financial Officer and announced the removal of payment gateway fees for new businesses until March 2027.