Paytail, one of the fastest growing technology platforms that provides EMI facility to consumers, has registered over 70 per cent revenue growth in the March quarter and annual growth of nine times.
Total disbursals increased over seven times to ₹1,200 crore in the last fiscal, against ₹142 crore in FY22. The company attributes the growth to its expanding distribution network of retail merchants and corporate partnerships. Paytail’s distribution network includes over 85,000 merchants and is expected to touch over 4 lakh in 2-3 years.
The company has started delivering operating profit and is geared to scale the business sustainably.
Vikas Garg, founder & CEO, said Paytail is not just focused on short-term growth, but intends to build a platform that will continue to deliver value to customers, merchants, corporate and lending partners.
Also read: Paytail partners with HDB Fin Services to offer loans for lifestyle products
Paytail’s platform operates a network comprising corporates, lending institutions, retail offline merchants, and consumers. By partnering with corporates and retail merchants, the platform facilitates credit provision to consumers for purchasing products, which are delivered through partner financial institutions.
Notable lenders on the platform include ICICI Bank, Cholamandlam, HDB Financial, Piramal, and others. The brand’s tie-ups include significant players in the consumer durables industry and EV space, including Vivo, Oppo, Voltas, Bluestar, and Livguard.
The company is targeting 5X-6X growth in the current financial year, while maintaining a healthy profitability balance. It has achieved zero cash burn and operating profitability within just two years of inception, while maintaining a good growth rate.
In the next three years, Paytail is gearing up to become the largest affordability service provider for offline stores beyond Tier-1 cities and is looking to enter underserved states in the southern and eastern parts of India.
Published on May 23, 2023
