Mumbai-based consumer lending startup Kissht has reported an 18% fall in net profit to Rs 160 crore on overall revenue of Rs 1,353 crore in financial year 2025, down 20% year-on-year.
Its profits before tax and Esop cost stood at Rs 253 crore.
The business was impacted by the overall slowdown in consumer lending business and the shutting down on high-margin ultra short duration personal loans, one of the core products of digital lending startups like Kissht.
The IPO-bound startup is only processing consumer loans which have a tenure of more than six months and has also entered into secured credit products like loan against property and small business loans as it attempts to become a full-stack digital lending company.
In a note issued by rating agency Crisil on Si Creva, the group non-banking finance company of Kissht, it noted that disbursements halved to Rs 9,776 crore compared to Rs 18,527 crore in fiscal 2024.
Given the firm’s focus on longer tenure loans, the AUM (assets under management) had grown to Rs 4,129 crore from Rs 2,670 crore in fiscal 2024, with 99.5% of the loans being of tenure of more than six months. This share was 65% a year back.
Kissht’s muted performance comes in the context of the overall slowdown in the unsecured consumer lending business which impacted digital lending startups in a major way.
“While the interest rate cycle has turned and there is more positivity among companies, banks and the larger NBFCs haven’t opened up fully yet, we are expecting things to become better in the second half of the current year,” said a founder of a consumer lending startup.
Kissht, Moneyview and Kreditbee are the three major consumer lending startups which are lining up for their IPOs. While these startups have started working on getting their internal processes in place, ET reported on June 26 that these companies might not actually hit the public market before the end of this year or beginning next year.
Kissht, founded in 2015, by Ranvir Singh and Krishnan Vishwanathan, ex-McKinsey professionals, has raised $133 million in equity funding from Vertex Ventures, Vetureast and others.
Its profits before tax and Esop cost stood at Rs 253 crore.
The business was impacted by the overall slowdown in consumer lending business and the shutting down on high-margin ultra short duration personal loans, one of the core products of digital lending startups like Kissht.
The IPO-bound startup is only processing consumer loans which have a tenure of more than six months and has also entered into secured credit products like loan against property and small business loans as it attempts to become a full-stack digital lending company.
In a note issued by rating agency Crisil on Si Creva, the group non-banking finance company of Kissht, it noted that disbursements halved to Rs 9,776 crore compared to Rs 18,527 crore in fiscal 2024.
Given the firm’s focus on longer tenure loans, the AUM (assets under management) had grown to Rs 4,129 crore from Rs 2,670 crore in fiscal 2024, with 99.5% of the loans being of tenure of more than six months. This share was 65% a year back.
Kissht’s muted performance comes in the context of the overall slowdown in the unsecured consumer lending business which impacted digital lending startups in a major way.
“While the interest rate cycle has turned and there is more positivity among companies, banks and the larger NBFCs haven’t opened up fully yet, we are expecting things to become better in the second half of the current year,” said a founder of a consumer lending startup.
Kissht, Moneyview and Kreditbee are the three major consumer lending startups which are lining up for their IPOs. While these startups have started working on getting their internal processes in place, ET reported on June 26 that these companies might not actually hit the public market before the end of this year or beginning next year.
Kissht, founded in 2015, by Ranvir Singh and Krishnan Vishwanathan, ex-McKinsey professionals, has raised $133 million in equity funding from Vertex Ventures, Vetureast and others.
