Innoviti Cuts FY26 Loss By 57% Despite Revenue Dip
Digital payments startup Innoviti reduced its net loss to ₹26.7 Cr in FY26, a 57% improvement, even as operating revenue fell 17% to ₹118.9 Cr.
Fintech startup Innoviti significantly reduced its net loss for the fiscal year ending March 2026, according to a filing accessed by Inc42. The Bessemer Venture Partners-backed company cut its loss by over 57% year-on-year to ₹26.7 crore, down from ₹62.1 crore in FY25. This improvement came despite a 16.7% decline in revenue from operations, which fell to ₹118.9 crore from ₹142.6 crore the previous year.
A sharp reduction in total expenses drove the loss reduction. Innoviti's spending fell by nearly 28% to ₹148.9 crore in FY26, compared to ₹206.6 crore in the prior fiscal. The company stated in its filing that it expects to become EBITDA positive in FY27, aided by operational improvements, cost-efficiency measures, and new customer additions.
Revenue Breakdown
The decline in operating revenue was seen across most segments. Revenue from services fell 17.8% year-on-year to ₹101.5 crore. Within this, offline revenue shrank 20% to ₹97.3 crore from ₹121.4 crore. Online revenue was a bright spot, doubling to approximately ₹4.2 crore. The startup also registered ₹17.4 crore in operating revenue from lease rentals, a decrease of about 9% from ₹19.1 crore. Other income of ₹3.3 crore brought Innoviti's total income for FY26 to ₹122.2 crore.
Expense Analysis
Innoviti managed to pare back costs across several major categories. The breakdown of key expenditures for FY26 is shown below.
| Expense Category | FY26 Amount (₹ Cr) | FY25 Amount (₹ Cr) | Change |
|---|---|---|---|
| Subvention and Service Fees | 62.5 | Not Stated | -24% YoY |
| Employee Benefit Expenses | Not Stated | 43.1 | -11.7% |
| Depreciation, Amortisation and Impairment | 10.9 | 32.6 | -66.5% |
| Finance Costs | 1.5 | 4.3 | -64.1% |
Subvention and service fees remained the largest cost, though spending was trimmed by 24%. Employee benefit expenses fell. Expenses for depreciation, amortisation, and impairment saw the most dramatic drop, plunging over 66.5%. Finance costs related to interest and borrowings were cut by 64.1%.
Company Background and Funding
Founded in 2002 by Rajeev Agrawal and Amrita Malik, Innoviti offers sales acceleration, revenue assurance, and payment collection software. The startup claims to process over ₹80,000 crore in gross transaction volume annually from more than 20,000 merchants across 2,000 Indian cities. Earlier this year, Innoviti received authorisation from the Reserve Bank of India to operate as a payment aggregator for both online and offline payments, having previously received approval for online aggregation in March 2024.
The company has raised over $115 million in total funding from investors including Bessemer Venture Partners, Catamaran Ventures, Alumni Ventures, and FMO. Its most recent round was a $11.4 million Series M raise in February. Innoviti has expressed intentions to go public for several years. It said in August 2024 that it would pursue an IPO within a year and repeated this sentiment in January 2025, though it has not yet made progress toward a public listing.
