Cashfree Revenue Surges 51% as FY26 Loss Narrows

Cashfree Payments moved closer to the ₹1,000 crore revenue milestone in FY26 as the fintech company sharply increased operating revenue and reduced its net loss.

Cashfree’s operating revenue rose 51.1% to ₹967 crore in FY26 from ₹640.1 crore in FY25, according to the financial figures reported by Inc42. The company’s net loss narrowed 23.1% to ₹118.5 crore from ₹154.1 crore a year earlier.

The improvement marks a significant change from FY25, when Cashfree’s operating revenue had remained broadly flat and its net loss had widened. Inc42’s earlier reporting put FY25 operating revenue at about ₹640 crore and the net loss at ₹154.1 crore.

Cashfree’s FY26 growth comes as the company expands beyond its traditional online payment gateway business. The fintech provides payment acceptance, payouts, banking and other financial technology services to businesses.

The company has also been expanding its cross-border payments operations. Cashfree said in May that its active merchant base grew 50% year-on-year in FY26 and that its cross-border business had reached scale during the year.

The company also said it achieved EBITDA profitability in March 2026 and was targeting full-year EBITDA profitability in FY27. That development is separate from net profitability, as Cashfree still reported a net loss for FY26 in the figures reported by Inc42.

Cashfree's improvement comes after a difficult FY25. Revenue had declined marginally from ₹642.7 crore in FY24 to around ₹640 crore in FY25, while the company's net loss increased from ₹135 crore to ₹154.1 crore.

The company has been investing in newer revenue streams as payment infrastructure becomes increasingly competitive. Its expansion into cross-border payments and other business services is intended to reduce dependence on a single payments segment.

Cashfree has also positioned artificial intelligence and technology infrastructure as part of its next phase of development. The company said it had doubled down on AI-native infrastructure while expanding its merchant base and international operations.

The scale-up is significant for a fintech that has remained loss-making despite substantial transaction volumes. The key question is whether the faster revenue growth can continue while the company controls the costs associated with expansion.

Cashfree's FY26 numbers suggest that the business is moving closer to operating profitability. At the same time, the ₹118.5 crore net loss shows that the company has not yet reached the point where higher revenue has translated into bottom-line profit.

The company has also indicated plans to raise fresh capital to deepen payment innovation, expand its cross-border business and enter international markets.

With operating revenue approaching ₹1,000 crore, Cashfree enters FY27 with a larger revenue base and a narrower net loss. Its ability to sustain growth while moving from EBITDA profitability towards overall profitability will be the next major test.