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Sama posted a 2% rise in topline in FY23, profits decline

  • September 26, 2024
  • By Team TheKredible
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Online Dispute Resolution platform, Sama posted a 2% increase in revenue in FY23 with Rs 3.91 crore from Rs 3.81 crore in FY22.

Founded in 2015 by Pranjal Sinha, Sama is a legaltech company that enables businesses and organizations to resolve disputes with customers or partners online through a neutral third party, offering binding decisions from arbitrators.

The Bangalore-based company has raised a total of Rs 54 lakh in funding over 1 round. That was a seed funding round in Oct 2022 led by campus fund. The company currently stands at a valuation of over Rs 40 crore.

Competing with Presolv360 and the Centre for Online Dispute Resolution (CODR), founder Pranjal Sinha holds the largest share of the company, with over 30%, followed by Vikram Kumar and Akshetha Maithri Ashok, each holding over 10% stakes.

Legaltech’s expenses also hiked from over Rs 1 crore in FY22 to Rs 3.22 crore in FY23. Employee benefit costs comprised 26% of total expenses, with advertising and legal and professional charges also contributing significantly.

Despite the rise in revenue, Sama’s profits fell from over Rs 1 crore in FY22 to Rs 51.36 lakh in FY23.

The company’s current EBITDA margin and ROCE also declined to 17.98% and 31.26%, respectively.