Noida-based SaaS company Vinculum recorded a revenue spike of 13% to Rs 50.47 crore in FY23 as compared to the previous fiscal’s Rs 44.6 crore.
Revenue from operations grew 1.2X to Rs 48.2 crore in the fiscal year ending March 2023. Previously in FY22, operations contributed a little over 90% of the total revenue generated that fiscal.
Founded by Venkat Nott and Deepak Singla, Vinculum operates as a global software company enabling omnichannel retailing. Its products include Vin Lister for automated product listing on various marketplaces, Vin PIM for centralized product information management, Vin eRetail for multichannel collaboration with web stores and marketplaces, and Vin Reco for marketplace reconciliation to recover lost money.
Vinculum secured its Series C round of Rs 25 crore from logistics company Delhivery in May 2023. The SaaS-based company has received a total of Rs 135.9 crore over 13 funding rounds since inception.
Previously, it raised an extended Series B round of close to Rs 20 crore in early 2021 led by the likes of Accel and Neil Araujo Valentino. The round also saw the participation of Bradford Brown Capital Partners, Anshu Gupta Revocable Trust, and IvyCap Ventures among others.
The company’s overall expenses ballooned 10% to Rs 79.3 crore in FY23 with employee benefit costing over 50% of the total expenses and finance cost over 6%. Each of these segments grew over 5% and close to 45%, respectively, as compared to the previous fiscal.
The 2007 incorporated company’s losses spiked 4.2% to Rs 28.93 crore in FY23 from its previous financial year’s Rs 27.8 crore. While its EBITDA margin improved to -45.77%, the company’s ROCE dropped to 82.14%.