What made me look at this company at first sight?
Recent B2B SAAS Fintech Platform IPO
- Innovative fintech platform which has identified white spaces in Vendor assessment and payments and Employee reimbursements.
First-Generation Professional Entrepreneurs
- Promoters with proven track records in building and exiting businesses.
Primary Raise Proportion in IPO
- 70% of the issue size for primary raise, indicating growth-focused funding.
Market Opportunity and Share
- Management highlighting a significant market opportunity and strategy to gain market share.
Capital Efficient Business Model
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Pre-IPO placement, they have diluted ~40% to GKFF ventures and Veantureast. Both the investors are early-stage VCs implying that the company haven’t raised significant money in the past.
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They raised Venture Debt of ~50 Cr. from Vivriti (Source: Crunchbase) which was paid Pre IPO.
Historical & Projected Growth Rates
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The company doubled revenue in the last 2 years to reach INR 775 Cr.
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Management is guiding for stable margins and organically doubling revenue in the next 2 years.
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Inorganic growth on the cards in H2 FY24 with acquisition size of ~500 Cr topline
Venture Capital Backing
- Raised money from reputable VC funds and grown profitably, showing strong product-market fit.
Customer Success Stories
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Demonstrated positive impact on businesses through real-life success stories.
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Big enterprise clients incl. IT services companies
Strategic Partnerships
- Formation of key alliances with Banks to issue prepaid and credit cards.
Primary Raise Proportion in IPO
- 70% of the issue size for primary raise, indicating growth-focused funding.
Market Opportunity and Share
- Management highlighting a significant market opportunity and strategy to gain market share.
Capital Efficient BusinList itemess Model
Video Links: Video Link – Management interview
(https://www.youtube.com/watch?v=wFKgigIF3LM)
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