The Gurugram-based platform Spalba saw a 2.9X increase in revenue in FY23, reaching Rs 18.76 crore from Rs 6.45 crore in FY22. However, operating revenue decreased by around 2%, contributing just over 97% of total revenue in FY23 compared to over 99% in FY22.
Founded in 2020, Spalba is a SaaS-enabled event planning marketplace with two segments: one for venues, enhancing sales through XR walkthroughs and event mockups, and one for planners, offering access to 10,000+ venues, virtual tours, and intuitive planning tools.
The company’s expenses increased by over 3X in FY23, totalling Rs 15.37 crore. Employee benefits costs, a major component of expenses, dropped from over 23% in FY22 to just over 16% in FY23. However, other expenses of the company rose by over 19% of the total revenue, increasing from 59.5% in FY22 to 79% in FY23.
Founded by Jaya Pandey, Naveen Gupta, and Vishal Puri, the company remains bootstrapped to date.
Its profits rose by over 2.9X, reaching Rs 3.40 crore in FY 2023 from Rs 1.16 crore in FY 2022. Despite this, EBITDA margin and ROCE declined to 18.72% and 78.65%, respectively.