Bengaluru-based wealthtech startup Smallcase achieved ₹106 crore in revenue for FY2024–25, up 57% year-on-year. However, it still posted an EBITDA loss of ₹9 crore, while the net loss stood at ₹34 crore
📈 4 Key Takeaways
1️⃣ Revenue momentum
Smallcase’s FY25 revenue jump—from ₹67.4 crore in FY24 to ₹106 crore—demonstrates strong traction in digital wealth management tools
2️⃣ Cost efficiency
Despite revenue growth, the company trimmed expenses aggressively—tightening cost structure to reduce EBITDA loss—signalling improved operational discipline .
3️⃣ Losses remain
Net loss of ₹34 crore, including non-cash accounting charges, indicates the startup hasn’t reached profitability amid continued investment
4️⃣ Competitive landscape
With competitors like INDmoney and Wint Wealth growing at different scales, Smallcase’s performance highlights both opportunity and the challenge of scaling profitably
🔭 What this means
- Path to profitability: Reducing EBITDA loss while growing revenue is a step forward, but achieving net profitability will require further margin expansion.
- Investor sentiment: Backed by $120 million in funding and a valuation of ~$290 million, Smallcase must balance growth with deeper cost control.
- Market opportunity: Handling ₹1.2 lakh crore in transactions and serving over 10 million users, the platform continues to build scale and influence in India’s wealthtech space NewsBytes
✅ Bottom Line
Smallcase hit a significant milestone with over ₹100 crore in revenue while trimming EBITDA losses to ₹9 crore. Yet, it remains in the red at the net level. The journey toward sustainable profitability now hinges on continued revenue momentum, sharper cost management, and differentiation in a competitive market.
