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Flipkart-backed super.money more than tripled its operating revenue in FY26 as it expanded its UPI payments and credit marketplace business. However, the growth came at a cost, as the losses for the firm widened by 78% during the fiscal year ended March 2026. Super.money's revenue from operations rose to Rs 292 crore in FY26 from Rs 89 crore in FY25, according to its annual financial statements sourced from the Registrar of Companies (RoC). Super.money’s core business spans UPI payments and credit marketplace services. It facilitates digital payments and connects customers of merchant platforms with banks and NBFCs for loans, earning revenue through loan facilitation services. The loan marketplace contributed Rs 248 crore, or nearly 85% of its operating revenue, while the remaining income came from other activities. As a marketplace-led business, super.money’s key expense is customer acquisition and brand building. The firm spent Rs 341 crore on marketing in FY26, which accounted for around 61% of its total expenditure. Employee benefit expenses also rose 75% to Rs 139 crore during the fiscal year. Other expenses, including marketplace, legal, telephone, postage and general overheads, pushed its total expenditure up 130% to Rs 557 crore in FY26 from Rs 242 crore in FY25. The company’s marketing spend alone exceeded its entire operating revenue for the year. As a result, its net loss widened by 78% to Rs 264 crore in FY26 from Rs 148 crore in the previous fiscal year. On a unit level, super.money spent Rs 1.91 to earn every rupee in FY26. Its EBITDA margin stood at -85.43% during the year. As of March 2026, the company had total current assets of Rs 136 crore, including cash and bank balances of Rs 63 crore. According to NPCI data, super.money, the fifth largest UPI player by transaction volume, processed 405.14 million transactions worth Rs 19,613.29 crore in September. It accounted for 1.68% of total UPI transaction volume and 0.67% of transaction value during the month. Beyond payments and credit, super.money has entered e-commerce with splitStore, an in-app marketplace that allows users to shop across categories and pay in zero-interest installments, with deliveries handled through Flipkart’s logistics network. In September 2026, super.money also appointed former BharatPe chief product officer Rohan Khara to the same role as it looks to expand its offerings across payments, credit and commerce. Khara has previously held senior roles at FairMoney, Gojek and MobiKwik. Super.money’s numbers show the cost of building a payments and credit business at scale, where customer acquisition remains central to growth. While its revenue has expanded sharply, marketing expenses exceeding operating revenue raise questions about the efficiency of its spending. Its expansion into commerce and installment-based shopping could open additional revenue streams, but the company will need to convert its growing user base into sustainable earnings. The key test will be whether scale can improve unit economics rather than deepen losses.
document fetched 2026-10-24 11:25