Cashfree bets on SME, cross-border payouts to chase ₹1,000 Cr FY26 revenue after RBI freeze
CEO Akash Sinha is pivoting Cashfree to SME merchants (+100% YoY) and cross-border (2x revenue) to escape a post-RBI-embargo plateau at ~₹640 Cr. FY25 losses widened to ~₹150 Cr while rival Razorpay scaled to ₹3,783 Cr. A private fundraise is on the table as the PA explores a path back to growth and profitability.
What happened
Cashfree Payments · Cashfree CEO Akash Sinha outlines SME and cross-border payments push to revive growth after RBI freeze stalled revenue at ~₹640 Cr; targets
Key facts
- FY23 net loss ₹133.1 Cr
- FY23 revenue ₹613.8 Cr
- FY24 revenue ₹639 Cr
- FY25 net loss ~₹150 Cr
- FY26 revenue target ~₹1,000 Cr
- Razorpay FY25 revenue ₹3,783 Cr
- SME merchants +100% YoY
- Cross-border revenue 2x
- $94 Mn raised since inception
- 55+ PA licences
Why this matters
A capital-constrained Cashfree pivoting to SME and cross-border with widening losses is shaping into either a tuck-in target for a larger PA or a strategic partner for a bank seeking merchant rails.