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IppoPay experiences 94% revenue decline in FY24, swings to losses Chennai-based fintech startup IppoPay experienced a drastic 94% revenue decline, dropping from Rs 329.77 crore in FY23 to Rs 18.12 crore in FY24. Founded in 2022 by Mohan Karuppaiah and Jai Kumar, IppoPay functions as a payment aggregator, offering solutions such as QR codes, sound boxes, and lending options. The company has raised Rs 17.33 crore in funding over three rounds, with its latest seed funding in August 2024. Despite a valuation exceeding Rs 90 crore, IppoPay reported losses of Rs 52.40 crore in FY24, down from profits over Rs 100 crore in FY23. Key expenses included employee benefits, advertising, and professional fees, contributing to negative EBITDA and ROCE margins. #IppoPay #Fintech #PaymentAggregator #StartupNews #FundingRound #ChennaiStartups #StartupFunding #Entrepreneurship #TechNews #FintechStartups #BusinessInsights #StartupChallenges #TheKredible #News https://thekredible.com/blogs/ippopay-experiences-94-revenue-decline-in-fy24-swings-to-losses

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Traya Health Sees 8X Scale Increase in FY23, Expense Surge Mumbai-based Traya Health's revenue surged 8.8X to Rs 61.7 crore in FY23. Established in 2019, it offers personalized hair care products. Operational revenue rose to Rs 61 crore from Rs 6 crore. Major expenses included advertising (55%) and materials (15%). Losses increased to Rs 27.8 crore. Recently, it secured Rs 75 crore in Series A funding from Xponentia Capital. #thekredible #TrayaHealth #HairCare #HairLossSolutions #StartupIndia #RevenueGrowth #News #Startup #Data #Insight #XponentiaCapital #SeriesAFunding https://thekredible.com/blogs/traya-health-posted-8x-growth-in-scale-in-fy23-expenses-rise

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