Archive · 4 Sep 2026
Innoviti Cuts FY26 Losses Despite Revenue and Online Challenges
Innoviti is a company that helps businesses accept and manage digital payments.
In FY26, it lost less money than it did the year before.
However, the money it earned from its main operations also went down.
Its offline business became smaller, while its online revenue doubled from a low base.
Innoviti reduced spending on services, employees, depreciation and borrowing costs.
The company says it hopes to start making an operating profit in FY27.
It also received permission to handle both online and offline payments.
Innoviti says it serves more than 20,000 merchants across 2,000 Indian cities.
Innoviti reduced its FY26 net loss by 57% year over year to ₹26.7 Cr from ₹62.1 Cr.
Revenue from operations fell 16.7% to ₹118.9 Cr, while total expenses declined nearly 28% to ₹148.9 Cr.
Revenue from services dropped 17.8% to ₹101.5 Cr, led by a 20% decline in offline revenue.
Innoviti said it expects to become EBITDA positive in FY27 through operational improvements, cost controls and new customers.
The digital payments startup received Reserve Bank of India authorisation to operate as an online and offline payment aggregator.
- Who
- Innoviti, a digital payments startup founded by Rajeev Agrawal and Amrita Malik.
- What
- The company reported a 57% year-over-year reduction in FY26 net loss, alongside a 16.7% decline in operating revenue.
- When
- FY26, compared with FY25; the company expects to become EBITDA positive in FY27.
- Where
- India, including operations across more than 2,000 Indian cities.
- Why
- Innoviti cut expenses and said operational improvements, cost-efficiency measures and new customers could support future profitability.
Cautious Financial View
Growth and Profitability View
Revenue performance
Cautious Financial View
Innoviti’s operating revenue fell 16.7% in FY26, with offline revenue declining 20%.
Growth and Profitability View
Online revenue doubled, and the company expanded its payment-aggregation permissions to cover both online and offline payments.
Path to profitability
Cautious Financial View
Innoviti remained loss-making in FY26, with total expenses exceeding total income.
Growth and Profitability View
The company said it expects to become EBITDA positive in FY27 through cost efficiency, operational improvements and new customers.
Future expansion
Cautious Financial View
Innoviti has repeatedly discussed an IPO but had not made progress toward a public-market debut according to the article.
Growth and Profitability View
The startup has raised more than $115 Mn, added payment-aggregator authorisation and claims significant transaction and merchant scale.
- FY26 net loss
- ₹26.7 Cr, down from ₹62.1 Cr in FY25
- FY26 operating revenue
- ₹118.9 Cr, down 16.7% from ₹142.6 Cr
- FY26 total expenses
- ₹148.9 Cr, down from ₹206.6 Cr
- FY26 total income
- ₹122.2 Cr, including ₹3.3 Cr in other income
- Largest expense
- Subvention and service fees of ₹62.5 Cr
- Merchant reach
- More than 20,000 merchants across over 2,000 Indian cities
- Annual transaction volume
- The company claims gross transaction volume above ₹80,000 Cr
- Funding
- More than $115 Mn raised to date; a $11.4 Mn Series M round was raised in February