Bengaluru headquartered fintech startup Tickertape recorded its scale rising 2.4X to Rs 7.4 crore in the fiscal year ending March 2023. It was a significant growth as compared to its preceding fiscal’s Rs 3 crore.
Its revenue from operations recorded a similar growth close to Rs 7 crore in FY23, contributing 93% to the overall revenue. The entirety of the firm’s operating revenue came in from the sale of services the same year.
Previously it had generated little over Rs 3 crore through operations, contributing 98% to the firm’s overall revenue.
Founded by Vasanth Kamath, Anugrah Shrivastava, and Rohan Gupta, Tickertape is an investment information and research platform available on web and mobile. It provides content, information, and analysis for stocks, ETFs, mutual funds, and other investment products.
The platform additionally offers tools and services such as a stock screener, market mood index, and others.
The three-year-old company spent over 50% of its total expenses on employee benefits and more than 20% on advertisement and promotional costs. Finance costs contributed close to 8% to the firm’s total expenses.
The firm’s overall expense for FY23 rose over two-fold from FY22’s Rs 19 crore to FY23’s Rs 42.7 crore.
It raised about Rs 40 crore in its maiden funding round. The Seed round was held in 2021 and saw Smallcase as its lead investor.
Tickertape’s losses spiked over 2X to Rs 35.3 crore in FY23 as compared to FY22’s Rs 16 crore. Its current EBITDA margin stands at -419.38% and its ROCE is at a breakeven of 0.00%.