Online stockbroking firm Upstox reported flat operating revenue but a sharp improvement in profitability in the financial year ended March 2025 (FY25), aided largely by higher non-operating income. According to its consolidated financial statements filed with the Registrar of Companies (RoC), Upstox posted revenue from operations of ₹945 crore in FY25, broadly unchanged from ₹951 crore in FY24. Despite muted topline growth, the company’s net profit rose 21.5% year-on-year to ₹215 crore, compared with ₹177 crore in the previous fiscal. Including non-operating income, Upstox’s total income stood at ₹1,205–1,208 crore for FY25. Revenue Mix Remains Brokerage-Led Brokerage income continued to…
Author: Adarsh Kumar
Home services marketplace Urban Company reported strong topline growth in the third quarter of FY26, even as consolidated losses persisted due to continued investments in its high-frequency housekeeping vertical, InstaHelp, according to its latest shareholder letter. For the quarter ended December 31, 2025, Urban Company posted a Net Transaction Value (NTV) of ₹1,081 crore, marking a 32% year-on-year increase. Revenue from operations also rose 32% YoY to ₹383 crore, reflecting steady demand across its core services. However, the company reported a consolidated net loss of ₹21 crore in Q3 FY26. On an adjusted basis, EBITDA loss stood at ₹17 crore,…
Bengaluru-based payments infrastructure firm Juspay has raised $50 million in a Series D follow-on funding round from WestBridge Capital, the company said in a statement. The round comprises a mix of primary and secondary capital, with Avendus Capital acting as the exclusive financial advisor to Juspay on the transaction. The latest investment values Juspay at $1.2 billion, up from approximately $900 million in its previous round, making it the first startup to enter the unicorn club in 2026. Use of Capital and Secondary Liquidity Juspay said the primary portion of the funding will be used to support international expansion and…
As PhonePe moves closer to its public listing, its updated draft red herring prospectus (DRHP) outlines how regulatory changes and shareholder liquidity events have reshaped the company’s revenue mix over the past year. The filing shows that PhonePe has seen secondary share transactions worth Rs 5,771 crore since 2023, providing liquidity to early shareholders ahead of the IPO. A significant portion of this took place in September 2025, when co-founders Sameer Nigam and Rahul Chari executed a Rs 3,937 crore secondary sale, with the shares acquired by General Atlantic. The transaction allowed partial monetisation for the founders while keeping them…
PhonePe has filed its updated Draft Red Herring Prospectus (UDRHP) with the Securities and Exchange Board of India, marking a key step towards one of India’s most closely watched fintech public listings. The filing comes after Securities and Exchange Board of India granted regulatory clearance for the company’s IPO plans earlier this month. IPO Structure: Entirely Offer for Sale As per the updated DRHP dated January 21, 2026, PhonePe’s proposed IPO will be structured entirely as an Offer for Sale (OFS), with no fresh issue of shares. As a result, the company will not receive any proceeds from the public…
India’s experiential travel startup WanderOn has raised ₹54 crore in a Series A funding round led by DSG Consumer Partners and Client Associates Alternate Fund (CAAF), marking one of the largest institutional fundraises by a fully bootstrapped travel company in the country. The fundraise comes at a time when India’s travel market is undergoing a structural shift, with younger travellers moving away from sightseeing heavy itineraries towards experience-led, community driven journeys built around culture, adventure, and shared moments. Unlike conventional funding announcements driven by boardroom pitches and press releases, WanderOn chose a distinctly brand-first route by letting people experience the…
Travel products platform Escape Plan has raised $25 million in a Series A funding round led by Jungle Ventures, with participation from Fireside Ventures and strategic investor IndiGo Ventures. The funding marks a significant scale-up milestone for the Bengaluru-based startup, which is building a full-stack travel products brand focused on India’s fast-growing base of frequent and aspirational travellers. Earlier funding and investor backing Escape Plan had earlier raised $5 million in July last year through Jungle Ventures’ First Cheque Jungle initiative, with participation from Fireside Ventures and several angel investors. With the latest round, Jungle Ventures continues to double down…
Eternal Limited, formerly Zomato, on Wednesday announced a key leadership transition, with founder Deepinder Goyal stepping down from his role as Group Chief Executive Officer. Goyal will continue on the company’s board as Vice Chairman. The company said Albinder Dhindsa will take over as the new Group CEO of Eternal. The development was disclosed through a letter addressed to shareholders and filed with the stock exchanges. Leadership transition formalised Dhindsa joined Eternal in 2022 following the acquisition of Blinkit in a $568 million transaction. Since then, he has been closely associated with the group’s quick commerce expansion, which has emerged…
Foodtech and quick commerce platform Eternal (formerly Zomato) delivered a sharp improvement in financial performance during the third quarter of FY26, reporting strong revenue growth alongside a 54% rise in profits, driven largely by its inventory-led quick commerce business. Revenue triples on Blinkit-led growth Eternal’s revenue from operations surged three-fold to ₹16,315 crore in Q3 FY26, compared to ₹5,405 crore in the same quarter last year, according to its consolidated financial results filed with the National Stock Exchange. On a sequential basis, revenue rose 20% from ₹13,590 crore in Q2 FY26, reflecting sustained momentum across its platforms. The sharp jump…
The fiscal year ended March 2025 marked a major inflection point for Exotel, as the cloud communication platform crossed the ₹500 crore revenue milestone and returned to profitability after several years, driven by steady operating growth and tighter cost control. Revenue crosses ₹500 crore milestone Exotel’s operating revenue grew 10% year-on-year to ₹490.5 crore in FY25 from ₹444.5 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies (RoC). Including other income of ₹16.5 crore, the company’s total income rose to ₹507 crore in FY25, up from ₹460 crore a year earlier. The bulk of…