Peak XV-backed BankBazaar posts Rs 249 Cr revenue in FY25; cuts losses

Online financial marketplace BankBazaar reported a 33% year-on-year increase in revenue for the fiscal year ended March 2025, while also reducing losses during the same period.

BankBazaar’s operating revenue grew to Rs 249 crore in FY25 from Rs 187 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies (RoC).

BankBazaar is a co-branded credit card issuer which lets you check your credit score and cross-sells third-party loans as well as other insurance products. The commission earned from the banks on the disbursal of loans was the sole source of revenue for the firm. 

Including non-operating income of Rs 5 crore, BankBazaar’s total income stood at Rs 254 crore during FY25 from Rs 188 crore in the previous fiscal.

In a media interview last year, BankBazaar CEO Adil Shetty said the company earned about Rs 210 crore in recurring revenue from co-branded credit card distribution and had refocused on credit card distribution and a subscription business for credit health monitoring.

The financial statements of BankBazaar have not given a detailed breakdown of the expenses, as the company recorded Rs 165 crore under operating expenses, which makes 59% of the total expenses. This cost rose 65% to Rs 165 crore in FY25 from Rs 100 crore in FY24.

Employee benefit expenses declined 8% to Rs 61 crore, while advertising spend remained flat at Rs 14 crore. Finance cost rose 40% to Rs 14 crore. Overall,  total costs increased 29% to Rs 278 crore in FY25 from Rs 215 crore in FY24.

BankBazar’s net loss decreased by 13% to Rs 23 crore in FY25 from Rs 26.5 crore in FY24. Its ROCE and EBITDA margin stood at -9.86% and -4.42%, respectively. On a unit level, BankBazaar spent Rs 1.12 to earn a rupee of operating revenue during FY25. The company’s current assets stood at Rs 140 crore including Rs 11 crore as cash and bank balances, during FY25.

According to TheKredible, BankBazaar has raised a total of $133 million of funding to date, having Peak XV, Amazon and Walden International as its lead investors.