Indmoney’s Financials, Revenue, Profit, Valuation & Shareholding Overview (2025)
Legal Name: �Finzoom Investment Advisors Private Limited | CIN: U67100HR2021PTC098653
INDMoney, founded in 2019 by Ashish Kashyap, is a Mumbai-based fintech platform offering zero-commission investment in stocks, mutual funds, and retirement planning solutions. The app provides portfolio tracking, personalized wealth insights, and direct access to US equities, aiming to simplify financial planning for retail users. Backed by investors like Matrix Partners, Sequoia, and Y Combinator, INDMoney has raised $159M over four rounds, fueling product innovation and growth. With features such as real-time net worth tracking, tax optimization, and SIP automation, the platform serves over 1 million users seeking an integrated financial management solution.
| Founding year | 2019 |
|---|---|
| Headquarters | Mumbai, Maharashtra, India |
| Valuation | ₹4,770 Cr (~$580M as of 2022) |
| Total Funding | $159M over 4 rounds |
| Annual Revenue (INR) | ₹70 Cr (FY24) |
| Annual Net Loss (INR) | ₹82.6 Cr (FY24) |
| EBITDA Margin | -75.6% (FY24) |
| Employees | ~600 (FY24) |
| Round | Date | Amount | Valuation | Investors |
|---|---|---|---|---|
| Seed | Apr 2019 | $3M | Not disclosed | Sequoia India |
| Series A | Jul 2020 | $10M | Not disclosed | Matrix Partners |
| Series B | Jan 2022 | $75M | $600M+ | Sequoia, Y Combinator |
| Series C | Oct 2023 | $71M | ~$770M | Tiger Global |
INDMoney’s revenue grew from ₹40.6 Cr in FY23 to ₹70 Cr in FY24, while net loss increased from ₹73.9 Cr to ₹82.6 Cr, reflecting investments in product development and user acquisition.
INDMoney’s unit-level EBITDA margin stood at -65% in FY23 and narrowed to -75.6% in FY24, driven by scaling technology and marketing costs relative to revenue.
Employee headcount grew from ~500 in FY23 to ~600 in FY24 to support expanded operations across investment, retirement, and insurance products.
- Expand user base through zero-commission US stock trading and wealth planning tools.
- Enhance AI-driven personalized financial insights and tax optimization features.
- Integrate new product verticals like insurance broking and lending services.
- Optimize unit economics via automation, referral-driven growth, and API partnerships.
- Evaluate IPO options once sustained revenue growth and margin improvements are achieved.
In January 2022, INDMoney raised $75M at a valuation of over $600M. In FY24, the company reported 73% revenue growth and is targeting profitability through diversified product offerings and cost optimization.
| Metric | Details |
|---|---|
| Revenue | ₹40.6 Cr → ₹70 Cr |
| Net Loss | ₹73.9 Cr → ₹82.6 Cr |
| EBITDA Margin | -65% → -75.6% |
| Employees | 500 → 600 |
| Valuation & Funding | ₹4,770 Cr; $159M raised |
| IPO Status | Private; evaluating IPO post margin improvement. |
| Expansion Focus | US stocks, financial planning, insurance & lending. |
| Latest News | $75M round Jan 2022; 73% revenue growth FY24 |
INDMoney’s strong top-line growth and continued investment in product and user acquisition position it to capture the growing digital wealth market in India. Achieving improved margins and unit economics will be key before a potential IPO.
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- Inc42: INDMoney’s FY23 net loss ₹73.9 Cr and revenue ₹40.6 Cr citeturn0search1
- Entrackr: INDMoney revenue spikes and net loss details citeturn0search8
- Tracxn: INDMoney total funding $159M over 4 rounds citeturn0search6
- Wikipedia: INDMoney
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