Rupeeflo bets on GIFT City, targets 30% revenue share as Bengaluru-based fintech eyes payments play
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- ✓Bengaluru-based fintech Rupeeflo targets 30 per cent of its revenue from GIFT City over the next year.
- ✓CEO Dharmendra Maurya said, "We would like GIFT City to contribute close to 25-30 per cent of the revenue in the next year." The firm also plans to start a new payments business.
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- MARKET
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- Business Line
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- 4 Minute(s)
- Market Focus
- India Economy
Rupeeflo, a Bengaluru-based fintech start-up building cross-border financial infrastructure for Indian financial institutions, wants GIFT City to contribute up to 30 per cent of its revenue over the next year, as it prepares to move beyond investor onboarding into payments.
The company, which currently derives less than 5 per cent of its revenue from GIFT City institutions, sees the International Financial Services Centre (IFSC) as a key growth driver. The contribution could rise to 40 per cent if its payments business gains traction, Co-Founder and CEO Dharmendra Maurya told businessline during an interaction at GIFT City.
"Out of our total revenue, GIFT City institutions will be less than 5 per cent. The way we are growing our revenue, we would like GIFT City to contribute close to 25-30 per cent of the revenue in the next year. If the payment business also grows, the revenue pie could be as big as 40 per cent," Maurya said.
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