Founded in 2016, Chennai-based AssetPlus is a fintech platform specializing in mutual fund distribution. The company provides technology and business development solutions to Mutual Fund Distributors (MFDs), enabling them to enhance their digital brand presence and grow their business online. AssetPlus offers a seamless platform that integrates with KRAs, RTAs, AMCs, and exchange platforms, ensuring a hassle-free experience for MFDs and clients.
Co-founded by Vishranth Suresh and Awanish Raj, AssetPlus has raised a total of Rs 31.37 crore over two funding rounds, with its latest Series A round raised on May 11, 2022. The shareholding structure includes Vishranth Suresh Babu (27.23%) and Incred (12.00%).
AssetPlus’s revenue grew to Rs 14.07 crore in FY24, up from Rs 6.1 crore in FY23, marking a 2.4x increase. Expenses surged to Rs 24.7 crore in FY24, compared to Rs 13.88 crore in FY23.
Employee benefit costs remained the largest expense category, accounting for 34.53% of total expenses in FY24, down from 38.83% in FY23. Advertisement costs dropped significantly to 2.26% in FY24 from 7.56% in FY23, while depreciation declined slightly to 0.32% in FY24 from 0.36% in FY23. Finance costs rose marginally to 0.12% in FY24 from 0.09% in FY23.
Despite strong revenue growth, AssetPlus continued to operate at a loss. Its net loss widened to Rs 10.63 crore in FY24 from Rs 7.78 crore in FY23. The EBITDA margin improved to -74.69% in FY24 from -126.34% in FY23, while ROCE improved to -31.22% in FY24 from -37.33% in FY23.