By admin 
Wealth management and investing platform INDmoney more than doubled its operating revenue in FY25. However, the company’s losses widened during the year as it stepped up investments across trading, lending, and global investing infrastructure.
According to the company’s financial disclosures, INDmoney’s operating revenue surged 2.3X year-on-year to Rs 164 crore in FY25, compared to Rs 70 crore in FY24. Its total revenue grew 67% to Rs 214 crore during the same period.Unlike trading-led brokerages, INDmoney said that less than 10% of its revenue in FY25 came from futures and options (F&O) trading, with the bulk of income generated from long-term investor behaviour. Around 85% of the company’s revenue now has annuity or perpetuity-like characteristics, led by recurring investments, long-term asset holding, and repeat usage across products.
According to the company, the platform earns revenue across multiple segments, including Indian and US equities, cross-border remittances, wealth management services, secured lending, insurance, and other financial products. The company also recently introduced trading services under a separate platform, INDstocks. On the bottom line, INDmoney’s cash losses widened to Rs 76 crore in FY25, compared to Rs 32 crore in FY24. As per the company, the increase in losses was primarily due to front-loaded investments during the year. These included building a full-stack Indian trading infrastructure, expanding global investing capabilities through GIFT City, setting up in-house lending rails for its NBFC business, strengthening compliance and technology systems, and higher user acquisition costs related to INDstocks.
About INDstocks
INDstocks is a feature within the INDmoney SuperMoney app has been co-founded by Ashish Kashyap, who also founded ibibo Group (Goibibo, redBus) and PayU India, serving as CEO and driving its vision for simplified Indian investing alongside other key figures like Dhruv Pathak, Amrita Sirohia, and Nikhil Behl. INDstocks operates as a modern online trading and investment platform, specifically designed for both advanced traders and long-term investors in the Indian market. It is integrated within the broader INDmoney platform, which allows users to manage a variety of financial products including Indian and US stocks, mutual funds, ETFs, Fixed Deposits, and the National Pension System (NPS), all from a single application.