SaaS platform EasyRewardz reported a revenue growth of over 46% in FY24, reaching Rs 66.89 crore compared to Rs 45.65 crore in FY23.
The company’s operating revenue accounted for over 99% of the total revenue in FY24, comprising setup revenue (2.2%), revenue from banking customers (17.5%), online source revenue (24.33%), campaign revenue (23.4%), and LPaaS retainer revenue (32.19%).
EasyRewardz provides industry-agnostic, cloud-based CRM, loyalty, and conversational commerce solutions to enhance omnichannel customer experiences. Centered on a Customer Data Platform, it empowers brands with actionable insights for personalized engagement, fostering deeper customer connections. With expertise in loyalty programs and CRM, Easyrewardz revolutionizes how businesses engage customers, driving growth and delighting users globally in the digital age.
Established in 2011, EasyRewardz has raised Rs 81.14 crore across 11 funding rounds, with its latest funding in May 2022. Co-founders Soumya Chatterjee, Angad Singh, Tejas Kadakia, and Sapan Kadakia hold stakes of 8.28%, 6.54%, 5.18%, and 4.68%, respectively, while Flipkart owns 17.55%.
The company’s expenses increased by over 24% to Rs 81.20 crore in FY24, up from Rs 65.25 crore in FY23. Employee benefit costs accounted for 52.88% of the total expenses, while depreciation, finance costs, and advertisement expenses contributed 2.8%, 1.7%, and 2.1%, respectively.
While its losses reduced by over 26%, from Rs 19.59 crore in FY23 to Rs 14.31 crore in FY24. Consequently, EBITDA improved to -15.83%, and ROCE rose significantly to 124.50% in FY24 from -1007.89% in FY23.