BeepKart posted a 2.5x revenue growth in FY24, reaching Rs 100.39 crore from Rs 39.33 crore in FY23. Operating revenue contributed over 97% of total revenue in FY24, compared to 90% in FY23.
BeepKart is revolutionizing personal mobility by offering high-quality, refurbished used two-wheelers through a digital-first platform. Catering to India’s growing demand for affordable vehicles, BeepKart ensures trust, convenience, and value with verified sellers, assured buyback, and flexible return policies. Buyers benefit from at-home services and refurbished bikes that feel as good as new—making mobility accessible to millions.
The company has raised a total of Rs 157.33 crore in funding over five rounds, with the latest raised in April 2024. Co-founder and CEO Hemir Doshi holds a 40.10% stake in the company, while the ESOP pool accounts for 14.18% of shares. Innoven Capital also holds a significant stake.
BeepKart’s expenses rose over 2.4x, reaching Rs 163.20 crore in FY24 from Rs 67.50 crore in FY23. Major costs included employee benefits (22.25%), advertising (9.3%), and finance costs (1.1%) of total expenses during FY24.
The company reported a 2.1x increase in losses, amounting to Rs 65.99 crore in FY24 compared to Rs 30.27 crore in FY23. Its EBITDA margin improved to -59.10% in FY24 but remained negative, while ROCE declined to -148.16%.