Kissht’s scale contracts 32% in FY21 while losses soar 2.6X

Earlier this month, consumer lending platform Kissht raised $80 million in its largest institutional funding round led by Vertex Growth and Brunei Investment Agency. The firm raised the Series E round at a valuation of $500 million and will be using it to scale book size and technology backend.

The company was also looking to foray into the BNPL cards segment directly in competition with the likes of Slice and Uni but the Reserve Bank of India’s latest crackdown is likely to derail its pay later ambition.

While the future of Kissht’s BNPL card appears hazy, let’s take a look at the company’s growth during the last reporting period (FY21). The six-year-old firm saw its revenue from operations contract by 31.7% to Rs 170.3 crore during FY21 from Rs 249.5 crore in FY20.