Born out of a requirement of higher online payment success rate, Citrus is a key player in the Payment Gateway industry. It competes with major players like BillDesk, TechProcess, CCAvenue, etc.

Citrus was co-founded by Satyen Kothari and Jitendra Gupta in 2011. It is engaged in the business of payment processing for credit cards, debit cards, bill payments, prepaid cards and all other kinds of payment instruments. The company has secured funding from Sequoia Capital and Ascent Capital. In this article, Tofler takes a look at their financial performance in FY 14-15.

Financial Performance of Citrus Payment

The company earned a revenue of INR 38 crores in FY 2014-15 as against INR 12 crores in FY 2013-14. Its revenue grew more than 3 times in this period. However, it incurred expenses to the tune of INR 53 crores in FY 14-15 and made a loss of INR 15 crores as compared to INR 4 crores the previous year. The losses grew more than 3 times.

The major source of revenue for the company is ‘commission fees’ at INR 36 crores and its biggest expense is the commission expense at INR 30 crores.

It might sound strange to a few readers that a Payment Gateway is in losses. One of the reasons of such losses could be extremely competitive pricing to achieve high growth and market penetration.

Brief explanation of Payment Gateway’s working model

Payment Gateways charge a transaction fee per transaction on its gateway (which contributes to the commission fees) and a monthly or annual maintenance fee from the merchants using it. They pay a part of the transaction fee (commission expenses)to the bank which holds the account from which payment is being made.

The following chart shows the flow of information through a Payment Gateway:

E-commerce is on the rise and the online payment requirements are set to increase. The Payment Gateway industry is set for enormous growth in the future in India. We wish Citrus good luck in the “war of the gateways”.

Author– Vishal, a Sci-fi enthusiast, engineer by mistake and writer by choice, combines his eye for numbers with natural flair for storytelling to churn out Tofler’s blogs.

Editor –  Anchal, founder at Tofler, is a CA, CS and has more than 5 years experience in company analysis. She likes to explore and track companies, their performance and senior management.

The Real Estate sector is amongst the fastest growing sectors in India. Housing, a sub-sector of Real Estate, has understandably attracted a number of companies including a large number of Start-ups. In this article Tofler looks at the performance of one such start-up- CommonFloor. Tofler is the first to report the financial performance of CommonFloor in FY 2014-15.

Launched in 2008, CommonFloor is owned by the company maxHeap Technologies Private Limited. It was co-founded by Lalit Mangal, Sumit Jain and Vikas Malpani. CommonFloor offers an online service for property search to home buyers, sellers and real estate professionals.

Financial Performance of CommonFloor

The company has reported a revenue of INR 44.5 Crores in FY 2014-15 as compared to INR 25.7 Crores in FY 2013-14, a growth of 73%. However, it reported a loss of INR 86.2 Crores in FY 2014-15 as compared to a loss of INR 28.8 Crores the previous year.

CommonFloor targets a $25 Million revenue in the next two years. We wish them all the best in their future endeavors.

If you are curious about any Start-up / Company, you can get financial information about it at ww.tofler.in. You can also subscribe to this blog as we will continue to explore the financial performance of the Start-ups.

Author– Vishal, a recent addition to Team Tofler, combines his passion of writing with searching for a worthy story in a Company, to make an interesting read.

Editor –  Anchal, founder at Tofler, is a CA, CS and has more than 5 years experience in company analysis. She likes to explore and track companies, their performance and senior management.

Hyper-local seems to be a buzz word in the Start-up ecosystem in India. So we decided to explore the performance of a key player in the space – Zopper. Zopper is a hyper-local mobile marketplace and helps users buy products from physical retail stores located near them. Tofler is the first to report the financial performance of Zopper in FY 2014-15.

Launched in 2010, Zopper is owned by Solvy Tech Solutions Private Limited. It was co-founded by Neeraj Jain and Surjendu Kuila.

Financial Performance of Zopper

The company reported revenue of INR 3.65 Crores in FY 2014-15 compared to INR 21 lacs in the previous financial year. It reported a loss of INR 12.6 crores in FY 2014-15 compared to a loss of INR 3 crores in FY 2013-14.

The company’s revenue grew 17 times in FY 2014-15. They recently raised $20 Mn from Tiger Global and Nirvana Ventures in June 2015. The company envisions to expand to 30 cities across India and we wish them all the best for the same.

If you are curious about any Start-up / Company, you can get financial information about it at ww.tofler.in. You can also subscribe to this blog as we will continue to explore the financial performance of the Start-ups.

Author– Vishal, a recent addition to Team Tofler, combines his passion of writing with searching for a worthy story in a Company, to make an interesting read.

Editor –  Anchal, founder at Tofler, is a CA, CS and has more than 5 years experience in company analysis. She likes to explore and track companies, their performance and senior management.