New Delhi: Fintech firm Olive expects its revenue to grow 40 per cent to Rs 350 crore in FY20, mainly due to growth in user base, big ticket loans and expansion of portfolio, a top company official said on Monday. Said.
The company claims that its revenue has more than doubled to around Rs 250 crore in FY 2024 on a year-on-year basis.
"Olive has shown remarkable growth, with current revenue reaching Rs 250 crore, up from Rs 116 crore last year, reflecting a 76 per cent growth in business volumes. The company estimates its revenue for FY 2025 Revenue will be around Rs 350 crore. This growth is expected to be driven by several key factors, such as rapid user growth, increase in larger ticket size loans and introduction of new products, said Rohit Garg, co-founder and CEO of Olive. Launch."
Olive claims that the monthly active user base on the platform has grown 80 percent year-on-year to 26 lakh.
The company partners with RBI-registered non-banking financial companies to provide personal loans to self-employed and salaried individuals.
“For the coming years, we look to strengthen our digital financial platform-play to partner customers in their financial journeys, open up new customer segments and further strengthen our presence in Tier-II cities and beyond.” We aim to reach US$1 billion (about Rs 8,200 crore) in assets under management in the next 3 years,” Garg said.
The company claims that its revenue has more than doubled to around Rs 250 crore in FY 2024 on a year-on-year basis.
"Olive has shown remarkable growth, with current revenue reaching Rs 250 crore, up from Rs 116 crore last year, reflecting a 76 per cent growth in business volumes. The company estimates its revenue for FY 2025 Revenue will be around Rs 350 crore. This growth is expected to be driven by several key factors, such as rapid user growth, increase in larger ticket size loans and introduction of new products, said Rohit Garg, co-founder and CEO of Olive. Launch."
Olive claims that the monthly active user base on the platform has grown 80 percent year-on-year to 26 lakh.
The company partners with RBI-registered non-banking financial companies to provide personal loans to self-employed and salaried individuals.
“For the coming years, we look to strengthen our digital financial platform-play to partner customers in their financial journeys, open up new customer segments and further strengthen our presence in Tier-II cities and beyond.” We aim to reach US$1 billion (about Rs 8,200 crore) in assets under management in the next 3 years,” Garg said.
