FamApp (formerly FamPay) has achieved a significant turnaround, becoming profitable in FY25 with ₹90–100 crore in revenue and a profit before tax of ₹10–12 crore yourstory.com. This follows a sharp leap from FY24, when the company earned just ₹25 crore in revenue and reduced losses by nearly 90%
💼 Funding Round Spurs Co‑Founder Kush Taneja’s Departure
FamApp is in advanced discussions to raise a $15 million round, led by Elevation Capital, largely through secondary share sales . This secondary component is structured to facilitate the exit of co-founder Kush Taneja, amid ongoing strategic differences with his co-founder, Sambhav Jain
📈 What Changed for FamApp
- Revenue sources expanded: Premium subscriptions (FamX Ultra at ₹699), ATM withdrawal fees (₹29), video KYC (₹99), autosave charges (₹29), and teen wallet load fees.
- Diversified offerings: Sales of app skins, gaming codes, vouchers, and the newly launched Namaspay UPI app for foreign travelers—one-time ₹1,650 fee, 4% loading, 1% withdrawal—were key revenue drivers
These monetization strategies transformed FamApp from a loss-making model in FY24 to a profit-making platform within a year.
✅ Why It Matters
- Sustainable growth: Profitability marks a pivotal shift for FamApp, making it attractive to investors and reducing reliance on continued external funding.
- Smooth transition: Kush Taneja’s exit through a secondary sale ensures continuity while enabling investor support via Elevation Capital
- Next steps: Funds will strengthen FamApp’s platform, boost fintech offerings, and support its evolution beyond teen users.
