Wint Wealth revenue jumps 2.6X in FY25; cuts losses by 60%

Bengaluru-based debt investment platform Wint Wealth reported strong financial performance in the fiscal year ended March 2025, as its operating revenue jumped 2.6X and losses narrowed by over 60% to Rs 8.2 crore.

The six year-old Wint Wealth recorded an operating revenue of Rs 44.5 crore in FY25 from Rs 17.2 crore in FY24, according to its financial statements filed with the Registrar of companies (RoC).

Founded in 2020, Wint Wealth allows retail investors to invest in fixed-income products such as corporate bonds, securitised debt instruments, and non-convertible debentures (NCDs) asset classes. It also provides B2B loans via its NBFC arm Wint Capital.

The company primarily earns revenue from interest income on debt securities, including interest income from loans provided through its NBFC arm, Wint Capital, calculated using the effective interest rate (EIR) method. This segment accounted for 69% of total operating revenue and grew 3.9X year-on-year to Rs 30.8 crore in FY25.

It also earns fee-based income from financial intermediary services such as facilitating debt investments and bond transactions, which amounted to Rs 9 crore in FY25. The rest of the income came from net gains on trading of debt securities in the secondary market, which accounted for Rs 4.7 crore in the fiscal year ending March 2025.

Wint Wealth also earned Rs 2.3 crore interest on current investments and other non-operating sources, which took its total income to Rs 46.8 crore.

For the wealthtech firm, employee benefit expenses remained the largest cost component and accounted for 49% of the total cost. This expense grew 25.6% to Rs 27 crore in FY25 and included Rs 4.7 crore of ESOP cost. Interest paid by the firm was another major expense and formed 34% of the overall cost. This expense jumped 4.4X to Rs 18.6 crore in FY25.

Other overheads included advertising, legal and professional, and administrative expenses. These pushed the firm’s overall expenditure up by 32% to Rs 54.7 crore in FY25 from Rs 41.5 crore.

In the end, the 2.6X jump in operating scale helped the Zerodha-backed firm narrow its losses by over 60% to Rs 8.2 crore in the last fiscal year.

On a unit basis, Wint Wealth spent Rs 1.23 to earn one rupee of operating revenue in FY25. As of March 2025, the company reported current assets of Rs 296 crore, including Rs 35 crore in cash and bank balances.

Wint Wealth has raised around $60 million, including its most recent Rs 250 crore ($28 million) led by Vertex Ventures  with the participation from Eight Roads Ventures, Zerodha-backed Rainmatter, and 3one4 Capital.

According to data compiled by Entrackr, Indian wealthtech startups raised over $634 million across 51 deals involving 39 startups during 2024 and 2025. However, the sector saw limited large-ticket rounds, with only six deals of $30 million or more. These included Syfe’s $53 million round, Smallcase’s $50 million Series D led by Elev8, Neo’s $48 million raise, and Dezerv’s $40 million round co-led by Premji Invest and Accel.