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Cashfree's FY23 revenue reaches Rs 614 Cr despite widening losses
source link: https://nextbigwhat.com/cashfrees-fy23-revenue-reaches-rs-614-cr-despite-widening-losses/
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Cashfree’s FY23 revenue reaches Rs 614 Cr despite widening losses
- Cashfree, an online payments processor, reported a 75.43% growth in its operating scale in FY23, with revenue reaching Rs 614 crore.
- Despite the revenue growth, the company’s losses increased to Rs 133 crore due to a surge in employee benefits and payment processing costs.
- Recently, Cashfree received a payment aggregator license from the Reserve Bank of India, which is expected to significantly boost its revenue in the current financial year.
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