Bengaluru-based Fisdom saw its revenue grow 25% in FY24, reaching Rs 84.5 crore from Rs 67.5 crore in FY23.
Fisdom is a fintech company offering a wide range of investment products, including mutual funds, stocks, ETFs, bonds, AIFs, and PMS, through its mobile and digital platforms. The company emphasizes transparency, objectivity, and personalized financial guidance, aiming to revolutionize the investment advisory industry by making it more accessible and secure.
Founded in 2015 by Anand Dalmia and Subramanya S V, Fisdom has raised Rs 359.31 crore in funding over eight rounds, with the latest round (Series C) closed in January 2024. The co-founders hold 12.80% (Anand Dalmia) and 16.74% (Subramanya S V) stakes, respectively. Saama Capital owns 11.74%, while the ESOP pool accounts for 9.97%.
Expenses grew marginally by 2.7% in FY24, reaching Rs 141.7 crore from Rs 138 crore in FY23. Employee benefit costs accounted for 67.2% of expenses in FY24, up from 61% in FY23. Advertisement expenses were reduced to 15.8% of total expenses in FY24, compared to 23.2% in FY23. Depreciation costs slightly declined, contributing 0.7% of expenses in FY24 from 0.8% in FY23, while finance costs rose marginally to 1.15% from 0.5% in FY23.
Losses narrowed to Rs 57.5 crore in FY24 from Rs 70.5 crore in FY23. Operational efficiency also improved, with the EBITDA margin rising to -64.89% in FY24 from -101.79% in FY23. ROCE showed an improvement as well, climbing to -75.63% in FY24 from -86.25% in FY23.