Bengaluru-based Apna has registered a substantial growth in its operating revenue of Rs 180.2 crore, marking a significant 182% increase from Rs 63.8 crore in the prior fiscal year.
The startup, originally focused on blue-collar workers, has evolved to serve white-collar professionals, akin to LinkedIn.
Its primary revenue source is recruitment solutions, offering diverse job listings, including remote and night shift positions.
Apna has expanded globally, featuring job postings from places like Singapore, the UAE, and Poland.
While FY23 saw robust revenue growth for Apna, it also witnessed a rise in the company's losses. The firm recorded a loss of Rs 120.3 crore, a 7% increase from Rs 112.5 crore in FY22.
Total expenses rose sharply to Rs 308.4 crore, a 73% increase from Rs 178.3 crore in the previous year. A significant chunk of these expenses, Rs 203.7 crore (66% of the total), was dedicated to employee benefits, reflecting a 162% surge from the previous year, possibly indicating workforce expansion.
In 2021, Apna entered the unicorn startup club after raising $100 million. The startup is backed by notable investors, including Tiger Global, Peak XV Partners, and Lightspeed India, among others.
Apna connects employers with potential employees efficiently. The startup, which is now available in over 70 cities, claims to have a user base exceeding 40 million.