Following a flat scale in FY25, payments infrastructure and intelligence company Cashfree Payments staged a comeback in FY26, with its operating scale rising 51% year-on-year to nearly Rs 1,000 crore, while its losses narrowed by 23% during the year. According to the company’s consolidated financial statements filed with the Registrar of Companies (RoC), Cashfree’s revenue from operations surged to Rs 967 crore in FY26 from Rs 640 crore in FY25. Founded in 2015 by Akash Sinha and Reeju Datta, Cashfree Payments helps businesses collect online payments, make payouts, improve conversions, and streamline KYC and fraud detection. The company processes up to 12,000 transactions per second, handles over $80 billion in annual volume, and serves over a million businesses across sectors. The company also secured all three RBI payments licences: Payment Aggregator (PA-PG), Payment Aggregator-Cross Border (PA-CB), and Prepaid Payment Instrument (PPI). Payment gateway commissions remained the key revenue driver, contributing 92% of operating revenue in FY25. The segment saw an 85% jump in FY26, with revenue surging to Rs 890 crore from Rs 481 crore in FY25. Payout commissions rose to Rs 69 crore, while cross-border payment commissions contributed another Rs 8 crore. Including around Rs 5 crore in other income, the Bengaluru-based company reported a total income of Rs 972 crore in FY26. For the fintech firm, payment gateway processing costs accounted for 64% of total expenses, which rose by 66% to Rs 698 crore in FY26. Employee benefits expenses declined marginally to Rs 239 crore, while advertising and marketing costs fell 10% year-on-year to Rs 18 crore. Other overheads, including depreciation and amortisation, finance costs, rent, domain charges, reseller commissions and software expenses, pushed Cashfree’s overall expenditure up 37% to Rs 1,091 crore in FY26. A significant jump in payment gateway commissions, coupled with the growth in its merchant base and tighter control over other operating expenses, helped the firm narrow its losses by 23% to Rs 119 crore in FY26 from Rs 154 crore in FY25. The Y Combinator-backed company’s EBITDA stood at Rs 90.5 crore in FY26, while its EBITDA margin improved to -9.36%. On a unit economics level, Cashfree spent Rs 1.13 to generate every rupee of operating revenue. As on March 2026, Cashfree had total current assets of Rs 1,891 crore, including cash and bank balance of Rs 22 crore. The company has raised $95 million from investors including Y Combinator, Smilegate Investments and State Bank of India, including a$53 millionfunding round led by Krafton in February last year. Recently, the companyappointedSameer Gandhi as its new Chief Financial Officer and announced zero payment gateway fees for new businesses until March 2027. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other compani
