Revenue Growth Accelerates 

BankBazaar, the online financial marketplace, has showcased impressive performance  for the fiscal year ending March 2025, with a remarkable 33% year-on-year surge in  operating revenue. The company’s revenue soared to ₹249 crore in FY25, up from ₹187  crore in FY24. When factoring in non-operating income of ₹5 crore, the total income for  the year reached ₹254 crore, a significant increase from ₹188 crore in the previous fiscal  year. 

This growth is attributed to BankBazaar’s intensified focus on its core services, which  include co-branded credit cards, credit score monitoring, and the cross-selling of third party loans and insurance products. CEO Adil Shetty pointed out that a substantial part  of this growth came from recurring revenue generated through credit card distribution  and subscription-based credit health services. 

Business Model and Operations 

BankBazaar primarily functions as an online marketplace for financial products,  allowing users to check their credit scores, compare loan offers, and access a wide  range of financial services. The company’s revenue is mainly derived from commissions  earned from banks for approved credit card and loan disbursals. 

In recent times, BankBazaar has placed greater emphasis on developing a subscription based model centred around credit health monitoring, which provides users with a  consistent stream of value-added services. This strategic shift not only enhances  customer retention but also contributes to a more predictable recurring revenue  stream, which now stands at approximately ₹210 crore annually.

Cost Structure and Operational Expenses 

While revenue has increased, BankBazaar’s total operating expenses also rose to ₹165  crore in FY25, up from ₹100 crore in FY24. Employee benefit expenses saw an 8%  decline to ₹61 crore, indicating improved workforce cost management and efficiency.  Advertising and marketing expenses remained stable at ₹14 crore, ensuring brand  visibility without excessive spending. However, finance costs surged by 40% to ₹14  crore, leading to total expenses climbing 29% year-on-year to ₹278 crore. 

The company’s expenditure patterns reflect a careful balancing act—investing in growth  and platform expansion while optimising overheads and employee-related costs. 

Reduction in Losses 

Despite the increase in expenses, BankBazaar successfully reduced its net losses by  13%, reporting a net loss of ₹23 crore in FY25 compared to ₹26.5 crore in FY24. The  EBITDA margin improved to negative 4.42%, indicating enhanced operational efficiency.  On a unit economics level, BankBazaar spent ₹1.12 to generate every rupee of operating  revenue, showcasing progress towards sustainable business operations. 

Balance Sheet and Liquidity 

At the end of FY25, BankBazaar reported current assets of ₹140 crore, which included  ₹11 crore in cash and bank balances. This robust liquidity position enables the  company to support its ongoing operations and fund its expansion plans effectively. 

Funding and Investor Support 

Since its inception, BankBazaar has successfully raised $133 million from notable  investors, including Peak XV Partners, Amazon, and Walden International. These funds  have been instrumental in bolstering the company’s technology platform, product  development, and growth initiatives across credit cards, loans, and insurance  marketplaces. 

With continued emphasis on higher-margin offerings, recurring revenue streams, and  disciplined cost management, BankBazaar is well-positioned for further profitability.  The company aims to expand its footprint across India, enhance its subscription model,  and explore additional value-added financial services. With a strong technology  platform and an expanding customer base, BankBazaar is solidifying its status as a  leading online financial marketplace in the country.