Founded in 2007, Mumbai-based MProfit is revolutionizing wealth management with its automated portfolio tracking solutions. The company provides a multi-asset portfolio tracker for investors, chartered accountants, and financial advisors, offering features such as automated trade data imports, F&O position management, live valuations, corporate action updates, and performance analytics.
MProfit’s revenue grew 78.6% in FY24, reaching Rs 6.02 crore, up from Rs 3.37 crore in FY23. However, net losses widened to Rs 1.77 crore in FY24 from Rs 1.51 crore in FY23. The EBITDA margin improved to -25.79% in FY24 from -40.76% in FY23, while ROCE declined to -13.93% from -10.47%.
More than 86% of its revenue came from operations in FY24, down from over 92% in FY23.
Total expenses increased to Rs 7.79 crore in FY24 from Rs 4.88 crore in FY23. Employee benefit costs accounted for 60.84% of total expenses in FY24, up from 52% in FY23. Advertisement costs rose to 10.01% of total expenses in FY24, while depreciation expenses slightly decreased to 2.69% from 2.90% in FY23.
MProfit has raised Rs 16.3 crore in funding, with the latest Seed round closing in November 2022. The company’s shareholding includes co-founders Atik Shah (23.80%), Kiran R Shah (11.16%), and Manish Jain (4.46%), alongside investor Zerodha (4.96%).
Despite widening losses, MProfit’s focus on automation and portfolio insights positions it as a key player in India’s growing wealth management SaaS space, empowering users with efficient investment tracking solutions.