Always looking to fund amazing entrepreneurs in #Fintech #SaaS #India! Entrepreneur & Early-Stage Fintech Investor!
As someone who is privileged to be closely involved in the journey of several startups including Mygate, the ability to write such a blog, let alone publish it to the public shows an extraordinary longterm thinking and maturity for founders. First of all, kudos to the team on stellar execution and is the input to this blog. Secondly kudos on the courage to publish such information, for a second time now. Last but not least, I encourage all founders to write such a blog and a similar plan for the year ahead. Publishing this can be at your own discretion - private, management team, board, investors, public. Use your best judgement but write you must! It’s a great discipline to have - ideally once a quarter! Yes the first two times will be difficult, but it will soon become a “liberating” habit.
Fastest Audit of FY24 financials; Here are Mygate FY24 numbers. -------------------------------------------------- Our finance team took the challenge of closing the audit of FY24 financials at record speed. And they did! Here are the highlights: - Total Revenue grew by 41%, to ₹109cr (in FY24) from ₹77cr (in FY23) - Cash Burn down 85% YoY with zero cash burn in the Q4 of FY24 - Completed an ESOP buyback for eligible Mygate team members - Revenue projected to grow by 75% YoY in FY25 For the full story - https://lnkd.in/g7jmqWpP We are slowly and steadily building a lasting company. Not possible without the trust of our clients, partners, investors and people at Mygate. Looking forward to an exciting FY25. Someone asked me - what is your projection for next 5 years? My answer - do you want the Excel answer or real answer?
Co-Founder and CEO at Vested
1yLove it!