The gold loan startup’s revenue from operations slumped 27.7% to INR 88.9 Cr from INR 122.9 Cr in FY22
Rupeek managed to bring down its total expenses by one-fourth to INR 376.9 Cr in FY23 from INR 499.4 Cr in the previous fiscal year
On a unit economics level, the startup spent INR 4.2 to earn every INR 1 in revenue from operations
Gold loan startup Rupeek reported a 22.7% narrowed loss of INR 281.6 Cr in the financial year 2022-23 (FY23) as the company managed to bring down its expenses, even though its income also fell.
The Peak XV Partners-backed startup had posted a net loss of INR 364.4 Cr in FY22 on a total revenue of INR 132.4 Cr.
Rupeek’s total revenue fell 26.5% year-on-year (YoY) to INR 97.2 Cr during the year under review. Revenue from operations also slumped 27.7% to INR 88.9 Cr in FY23 from INR 122.9 Cr in FY22.
Founded in 2015 by Sumit Maniyar and Ashwin Soni, Rupeek provides instant gold loans at doorstep and through bank…