About Arvog
Arvog is a publicly listed company based in Mumbai (India) founded in 1984, and was acquired by Revolut in February 2022. AI-based digital lending for personal and gold loans is offered. The company has 248 employees. Its chief executive, as recorded, is Amit Shroff. Its website arvog.com draws about 16 thousand monthly visits. Its Indian entity Finkurve Financial Services Limited reported revenue of βΉ210 Cr. Arvog offers products and services including Gold Loans and Personal Loans. Its focus areas include FinTech, Alternative Lending, Online Lenders and Consumer Loans. Its competitors include Kissht, Stashfin and Finnable; 3 of its 3 listed competitors have raised funding.
Company details
Arvog was founded in 1984 in Mumbai, India, and operates in the fintech sector. An AI-powered platform is provided for consumer lending, with a focus on digital personal and gold loans. Customer-centric services are delivered through technology-driven processes. The company is led by directors including Ketan Kothari and Nishant Tolchand Ranka, alongside Chairman Priyank Rakesh Kothari and CEO Amit Shroff. Operations emphasize efficient, accessible finance solutions in the Indian market.
- Market Cap₹889 Cr
FINKURVE · NSE
- Share Price₹64.78
+2.08% today
- Revenue₹56.78 Cr
FY 2021-22 · +99.8% YoY
- EBITDA₹28.98 Cr
Margin 51.0%
- Net Profit₹19.72 Cr
FY 2021-22 · +331.5% YoY
- P/E (TTM)72.9x
P/B 9.1x
- ROE13.3%
ROCE 14.4%
- Debt / Equity0.34
Interest cover 13.3x
- Latest Funding Round$5.25M (USD), Post-IPO
Jul 2026
- Investors
- Employee Count248
- Acquired byRevolut
(Feb 2022)
Associated legal entities of Arvog
Arvog is associated with 2 registered companies on The Company Check; the primary company is Finkurve Financial Services Limited, a listed company. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2026) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Finkurve Financial Services Limited Listed CIN L65990MH1984PLC032403 | Active | 23 Mar 1984 | Mumbai, Maharashtra | ₹210 Cr | 253 | 10 | View details |
| Supama Financial Services Llp CIN ABZ-9142 | Active | 19 Jan 2023 | Mumbai, Maharashtra | 2 | View details |
Products & Services of Arvog
Arvog offers a comprehensive portfolio of products and services, including Gold Loans and Personal Loans.
Loans against gold jewelry with competitive rates and flexible terms.
Flexible loans for emergencies and financial goals with quick approvals.
Funding Insights of Arvog
- Total Rounds 1
- Last Round Post-IPO β $5.25M
- First Round $5.25M
(Jul 2026)
All 1 funding rounds of Arvog with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul 2026 | $5.25M | Post-IPO | β | β | β |
1 investors in total: 1 institutional.
Investors in Arvog
Arvog has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include Revolut.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Banking solutions are provided for retail customers and businesses. | 2015 | revolut.com | London, United Kingdom |
Investor details for Arvog
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Finkurve Financial Services Limited (Arvog)
Finkurve Financial Services Limited is the primary company behind Arvog. The boards of the 2 registered companies of Arvog currently have 10 directors; the longest-serving is Ketan Bhawarlal Kothari, appointed in 2010. 25 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Ketan Bhawarlal Kothari DIN 00230725 | Director | 10 Dec 2010 | 15 yrs 10 mo | Finkurve Financial Services Limited |
| Nishant Tolchand Ranka DIN 06609705 | Director | 07 Mar 2018 | 8 yrs 7 mo | Finkurve Financial Services Limited |
| Priyank Rakesh Kothari DIN 07676104 | Whole-time director | 17 May 2021 | 5 yrs 5 mo | Finkurve Financial Services Limited |
| Prithviraj Saremal Kothari DIN 00229996 | Designated Partner | 19 Jan 2023 | 3 yrs 9 mo | Supama Financial Services Llp |
| Mukesh Manekchand Kothari DIN 00230699 | Designated Partner | 19 Jan 2023 | 3 yrs 9 mo | Supama Financial Services Llp |
| Aastha Vishal Solanki DIN 10667741 | Director | 30 Jun 2024 | 2 yrs 4 mo | Finkurve Financial Services Limited |
| Himadri Bhattacharya DIN 02331474 | Director | 14 Nov 2024 | 1 yr 11 mo | Finkurve Financial Services Limited |
| Cavale Narayanarao Raghupathi DIN 08846510 | Director | 14 Nov 2024 | 1 yr 11 mo | Finkurve Financial Services Limited |
| Kajal Kunal Parmar DIN 10598106 | Company Secretary | 05 Jun 2025 | 1 yr 4 mo | Finkurve Financial Services Limited |
| Rajendran Chinna Veerappan DIN 00460061 | Additional Director | 24 Apr 2026 | 6 mo | Finkurve Financial Services Limited |
People of Arvog
4 people are tracked at Arvog (4 in leadership); the tracked headcount is 248.
| Name | Role | Group |
|---|---|---|
| Director | Leadership | |
| Chairman | Leadership | |
Amit Shroff | CEO | Leadership |
| Chairman | Leadership |
Complete people profiles for Arvog
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
IPO & Listings of Arvog
Arvog is a publicly listed company on the BSE with ticker symbol FINKURVE in India, operating in the Finance sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
- IPO date04 Apr 2008
- Listed onBSE: 508954
- Listed entityFinkurve Financial Services Ltd.
- Exchange sectorFinance
- ISININE734I01027
- Share price₹67.85 (-1.15% on the day) · 2026-05-11
- Market capitalisation₹983 Cr
- Price to earnings42.4
- EPS (diluted, trailing year)₹1.60
- Volume (last session)4,065
- Analyst consensusNo rating
Financials of Arvog
Exchange-reported figures of Finkurve Financial Services Limited, the listed company behind Arvog (NSE: FINKURVE).
Financial Highlights
FY 2021-22 Β· ConsolidatedRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 56.78 | 28.42 | 24.76 | 17.59 | 299 | 327 | 494 |
| Revenue growth | +99.8% | +14.8% | +40.8% | -94.1% | -8.5% | -33.9% | - |
| EBITDA | 28.98 | 14.30 | 14.09 | 12.55 | 10.54 | 10.05 | 10.46 |
| EBITDA margin | +51.0% | +50.3% | +56.9% | +71.4% | +3.5% | +3.1% | +2.1% |
| Profit before tax | 24.87 | 6.32 | 5.33 | 0.76 | 2.38 | 0.93 | 1.99 |
| Net profit | 19.72 | 4.57 | 4.06 | 0.45 | 1.96 | 0.60 | 1.19 |
| Net profit margin | +34.7% | +16.1% | +16.4% | +2.6% | +0.7% | +0.2% | +0.2% |
| EPS (βΉ) | 1.55 | 0.36 | 0.32 | 0.05 | 0.20 | 0.06 | 0.12 |
| Balance sheet | |||||||
| Total assets | 182 | 218 | 210 | 111 | 129 | 91.20 | 87.28 |
| Net worth | 158 | 138 | 133 | 15.50 | 15.53 | 13.56 | 12.96 |
| Total debt | 24.01 | 77.58 | 74.70 | 93.49 | 111 | 74.95 | 72.17 |
| Cash & bank | 2.63 | 14.88 | 12.83 | 11.05 | 3.78 | 5.13 | 4.00 |
| Net working capital | 1.69 | 10.21 | 11.51 | 12.82 | 124 | 87.82 | 83.49 |
| Cash flow | |||||||
| Cash from operations | 27.79 | 4.21 | (80.52) | 30.28 | (27.81) | 6.72 | (34.92) |
| Cash from investing | 20.13 | (0.42) | (2.24) | (0.37) | (1.43) | 0.21 | (0.49) |
| Cash from financing | (55.54) | (4.40) | 85.04 | (29.04) | 27.89 | (5.79) | 32.95 |
| Particulars | Dec 2023 | Mar 2022 | Dec 2021 | Sep 2021 | Jun 2021 | Mar 2021 | Dec 2020 | Sep 2020 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 23.64 | 27.74 | 10.22 | 10.49 | 8.10 | 8.88 | 5.56 | 7.25 |
| Revenue growth (YoY) | - | +212.4% | +83.8% | +44.7% | +28.0% | - | - | - |
| Other income | 0.07 | 0.24 | 0.15 | 0.02 | 0.20 | (0.09) | 0.53 | 0.19 |
| EBITDA | 8.33 | 21.15 | 0.14 | 4.07 | 3.06 | 3.49 | 0.98 | 5.05 |
| EBITDA margin | +35.2% | +76.1% | +1.4% | +40.8% | +37.8% | +40.2% | +17.8% | +69.7% |
| Depreciation | 0.12 | 0.13 | 0.22 | 0.22 | 0.18 | 0.34 | 0.17 | 0.17 |
| Interest | 1.65 | 0.52 | 0.59 | 1.76 | 0.55 | 1.60 | 1.85 | 1.79 |
| Profit before tax | 6.63 | 20.74 | (0.52) | 2.11 | 2.53 | 1.46 | (0.51) | 3.28 |
| Tax | 1.71 | 3.73 | 0.17 | 0.57 | 0.67 | 0.52 | (0.08) | 0.79 |
| Net profit | 4.92 | 17.01 | (0.69) | 1.54 | 1.86 | 0.94 | (0.43) | 2.49 |
| EPS (βΉ) | 0.39 | 1.34 | (0.05) | 0.12 | 0.15 | 0.07 | (0.04) | 0.20 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 208 | 141 | 90.26 | 50.49 | 43.64 | 20.45 | 16.31 |
| Revenue growth | +47.6% | +56.2% | +78.8% | +15.7% | +113.4% | +25.4% | - |
| EBITDA | 86.02 | 41.50 | 27.86 | 24.83 | 30.64 | 13.11 | 13.44 |
| EBITDA margin | +41.4% | +29.4% | +30.9% | +49.2% | +70.2% | +64.1% | +82.4% |
| Profit before tax | 34.60 | 23.61 | 21.23 | 19.59 | 27.05 | 6.07 | 5.34 |
| Net profit | 26.03 | 17.40 | 16.08 | 14.31 | 4.85 | 4.50 | 4.03 |
| Net profit margin | +12.5% | +12.3% | +17.8% | +28.3% | +11.1% | +22.0% | +24.7% |
| EPS (βΉ) | 1.86 | 1.37 | 1.27 | 1.13 | 1.70 | 0.36 | 0.32 |
| Balance sheet | |||||||
| Total assets | 1,192 | 447 | 264 | 224 | 182 | 212 | 205 |
| Net worth | 345 | 206 | 189 | 172 | 158 | 136 | 131 |
| Total debt | 847 | 241 | 75.40 | 51.63 | 23.66 | 76.23 | 73.22 |
| Cash & bank | 102 | 15.45 | 8.66 | 4.46 | 2.63 | 1.94 | 0.54 |
| Net working capital | 89.66 | 0.80 | 1.57 | (2.42) | 0.05 | 0.55 | 0.36 |
| Cash flow | |||||||
| Cash from operations | (566) | (134) | (7.06) | (20.29) | 28.58 | 6.48 | (84.12) |
| Cash from investing | (6.51) | (4.58) | (6.34) | (0.90) | 27.65 | (1.19) | (1.24) |
| Cash from financing | 659 | 145 | 17.59 | 23.02 | (55.54) | (3.90) | 85.30 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 75.10 | 67.33 | 51.96 | 48.05 | 39.88 | 40.28 | 39.87 | 31.90 |
| Revenue growth (YoY) | +88.3% | +67.2% | +30.3% | +50.6% | +40.3% | - | - | - |
| Other income | 0.72 | 1.89 | 0.51 | 0.09 | 0.16 | 0.14 | 0.13 | 0.23 |
| Total expenses | 36.76 | 37.56 | 28.34 | 31.65 | 25.37 | 29.06 | 27.53 | 23.41 |
| EBITDA | 38.34 | 29.77 | 23.62 | 16.40 | 14.51 | 11.22 | 12.34 | 8.49 |
| EBITDA margin | +51.1% | +44.2% | +45.5% | +34.1% | +36.4% | +27.9% | +31.0% | +26.6% |
| Depreciation | 1.13 | 1.34 | 0.59 | 0.75 | 0.75 | 0.50 | 0.32 | 0.16 |
| Interest | 26.72 | 19.89 | 13.60 | 8.36 | 7.08 | 5.62 | 4.33 | 3.90 |
| Profit before tax | 11.21 | 10.43 | 9.94 | 7.38 | 6.84 | 5.24 | 7.82 | 4.66 |
| Tax | 2.77 | 2.38 | 2.97 | 1.47 | 1.74 | 1.33 | 2.18 | 1.19 |
Financial Statements
| Particulars | Dec 2023 | Mar 2022 | Dec 2021 | Sep 2021 | Jun 2021 | Mar 2021 | Dec 2020 | Sep 2020 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 23.64 | 27.74 | 10.22 | 10.49 | 8.10 | 8.88 | 5.56 | 7.25 |
| Revenue growth (YoY) | - | +212.4% | +83.8% | +44.7% | +28.0% | - | - | - |
| Other income | 0.07 | 0.24 | 0.15 | 0.02 | 0.20 | (0.09) | 0.53 | 0.19 |
| EBITDA | 8.33 | 21.15 | 0.14 | 4.07 | 3.06 | 3.49 | 0.98 | 5.05 |
| EBITDA margin | +35.2% | +76.1% | +1.4% | +40.8% | +37.8% | +40.2% | +17.8% | +69.7% |
| Depreciation | 0.12 | 0.13 | 0.22 | 0.22 | 0.18 | 0.34 | 0.17 | 0.17 |
| Interest | 1.65 | 0.52 | 0.59 | 1.76 | 0.55 | 1.60 | 1.85 | 1.79 |
| Profit before tax | 6.63 | 20.74 | (0.52) | 2.11 | 2.53 | 1.46 | (0.51) | 3.28 |
| Tax | 1.71 | 3.73 | 0.17 | 0.57 | 0.67 | 0.52 | (0.08) | 0.79 |
| Net profit | 4.92 | 17.01 | (0.69) | 1.54 | 1.86 | 0.94 | (0.43) | 2.49 |
| EPS (βΉ) | 0.39 | 1.34 | (0.05) | 0.12 | 0.15 | 0.07 | (0.04) | 0.20 |
| Particulars | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 |
|---|---|---|---|---|---|---|---|
| Revenue | 56.78 | 28.42 | 24.76 | 17.59 | 299 | 327 | 494 |
| Revenue growth | +99.8% | +14.8% | +40.8% | -94.1% | -8.5% | -33.9% | - |
| Other income | 0.39 | 0.21 | 0.13 | 0.09 | 0.06 | 0.10 | 0.10 |
| Total expenses | 27.80 | 14.12 | 10.67 | 5.04 | 288 | 317 | 484 |
| Employee cost | 5.15 | 2.97 | 4.40 | 1.96 | 1.45 | 1.01 | 0.78 |
| EBITDA | 28.98 | 14.30 | 14.09 | 12.55 | 10.54 | 10.05 | 10.46 |
| EBITDA margin | +51.0% | +50.3% | +56.9% | +71.4% | +3.5% | +3.1% | +2.1% |
| Depreciation | 0.74 | 0.86 | 0.52 | 0.15 | 0.11 | 0.11 | 0.15 |
| Interest | 3.76 | 7.33 | 8.37 | 11.73 | 8.11 | 9.11 | 8.42 |
| Profit before tax | 24.87 | 6.32 | 5.33 | 0.76 | 2.38 | 0.93 | 1.99 |
| Tax | 5.14 | 1.79 | 1.26 | 0.29 | 0.86 | 0.29 | 0.66 |
| Net profit | 19.72 | 4.57 | 4.06 | 0.45 | 1.96 | 0.60 | 1.19 |
| Net profit margin | +34.7% | +16.1% | +16.4% | +2.6% | +0.7% | +0.2% | +0.2% |
| EPS (βΉ) | 1.55 | 0.36 | 0.32 | 0.05 | 0.20 | 0.06 | 0.12 |
| Particulars | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 12.69 | 12.69 | 12.69 | 9.66 | 9.66 | 9.66 | 9.66 |
| Reserves & surplus | 145 | 125 | 121 | 5.84 | 5.87 | 3.90 | 3.30 |
| Shareholders' funds (net worth) | 158 | 138 | 133 | 15.50 | 15.53 | 13.56 | 12.96 |
| Minority interest | 0.00 | 2.19 | 2.24 | 2.23 | 2.21 | 2.19 | 2.15 |
| Secured loans | 12.18 | 0.00 | 0.23 | 0.00 | 0.00 | 0.00 | 0.00 |
| Unsecured loans | 11.83 | 77.58 | 74.47 | 93.49 | 111 | 74.95 | 72.17 |
| Total debt | 24.01 | 77.58 | 74.70 | 93.49 | 111 | 74.95 | 72.17 |
| Total liabilities | 182 | 218 | 210 | 111 | 129 | 91.20 | 87.28 |
| Assets | |||||||
| Gross block | 1.23 | 3.43 | 2.51 | 0.70 | 1.57 | 1.34 | 1.14 |
| Net block | 0.62 | 1.91 | 2.06 | 0.55 | 0.42 | 0.30 | 0.21 |
| Capital work in progress | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 5.09 | 4.20 | 2.46 | 0.90 | 2.56 | 1.23 | 1.23 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.00 | 3.92 | 5.83 | 4.77 |
| Sundry debtors | 0.00 | 0.78 | 2.31 | 0.86 | 1.59 | 1.23 | 1.46 |
| Cash & bank balances | 2.63 | 14.88 | 12.83 | 11.05 | 3.78 | 5.13 | 4.00 |
| Loans & advances | 3.14 | 1.71 | 1.23 | 2.08 | 119 | 82.01 | 74.44 |
| Total current assets | 5.77 | 17.37 | 16.37 | 13.99 | 128 | 94.20 | 84.67 |
| Total current liabilities | 4.08 | 7.16 | 4.86 | 1.17 | 3.77 | 6.38 | 1.18 |
| Net working capital | 1.69 | 10.21 | 11.51 | 12.82 | 124 | 87.82 | 83.49 |
| Total assets | 182 | 218 | 210 | 111 | 129 | 91.20 | 87.28 |
| Particulars | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 |
|---|---|---|---|---|---|---|---|
| Opening cash | 10.24 | 10.85 | 8.57 | 7.70 | 5.13 | 4.00 | 6.47 |
| Net cash from operating activities | 27.79 | 4.21 | (80.52) | 30.28 | (27.81) | 6.72 | (34.92) |
| Net cash from investing activities | 20.13 | (0.42) | (2.24) | (0.37) | (1.43) | 0.21 | (0.49) |
| Net cash from financing activities | (55.54) | (4.40) | 85.04 | (29.04) | 27.89 | (5.79) | 32.95 |
| Net change in cash | (7.61) | (0.61) | 2.28 | 0.87 | (1.35) | 1.13 | (2.47) |
| Closing cash | 2.63 | 14.88 | 12.83 | 11.05 | 3.78 | 5.13 | 4.00 |
| Particulars | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +99.8% | +14.8% | +40.8% | -94.1% | -8.5% | -33.9% | - |
| EBITDA growth | +102.7% | +1.5% | +12.3% | +19.1% | +4.9% | -3.9% | - |
| PBT growth | +293.5% | +18.6% | +601.3% | -68.1% | +155.9% | -53.3% | +11.2% |
| Net income growth | +331.5% | +12.6% | +802.2% | -77.0% | +226.7% | -49.6% | - |
| Revenue CAGR (3Y) | +47.8% | -54.4% | -57.7% | -67.1% | -31.3% | -7.6% | +8.0% |
| EBITDA CAGR (3Y) | +32.2% | +10.7% | +11.9% | +6.3% | +45.5% | +185.9% | +65.9% |
| Profitability & leverage | |||||||
| Net income margin | +34.8% | +15.9% | +16.4% | +2.7% | +0.5% | +0.2% | +0.3% |
| Return on capital employed | +14.4% | +6.5% | +8.6% | +10.6% | +9.7% | +11.5% | +16.3% |
| Return on net worth | +13.3% | +3.4% | +5.5% | +3.0% | +10.5% | +4.8% | +10.8% |
| Debt / equity | 0.34 | 0.56 | 1.13 | 6.59 | 6.39 | 5.55 | 4.16 |
| Long-term debt / equity | 0.24 | 0.44 | 1.05 | 3.01 | 2.78 | 2.79 | 0.19 |
| Interest cover | 13.31 | 54.54 | 61.68 | 94.60 | 77.76 | 91.65 | 81.67 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 24.54 | 9.64 | 15.51 | 15.58 | 205.46 | 263.59 | 443.23 |
| Inventory turnover | 0.00 | 0.00 | 0.00 | 9.02 | 61.32 | 61.67 | 113.22 |
| Debtors turnover | 146.59 | 18.53 | 15.70 | 14.43 | 212.01 | 243.01 | 629.55 |
| EPS (βΉ) | 1.55 | 0.36 | 0.32 | 0.05 | 0.20 | 0.06 | 0.12 |
| Dividend per share (βΉ) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (βΉ) | 12.46 | 10.86 | 10.50 | 1.60 | 1.61 | 1.40 | 1.34 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 75.10 | 67.33 | 51.96 | 48.05 | 39.88 | 40.28 | 39.87 | 31.90 |
| Revenue growth (YoY) | +88.3% | +67.2% | +30.3% | +50.6% | +40.3% | - | - | - |
| Other income | 0.72 | 1.89 | 0.51 | 0.09 | 0.16 | 0.14 | 0.13 | 0.23 |
| Total expenses | 36.76 | 37.56 | 28.34 | 31.65 | 25.37 | 29.06 | 27.53 | 23.41 |
| EBITDA | 38.34 | 29.77 | 23.62 | 16.40 | 14.51 | 11.22 | 12.34 | 8.49 |
| EBITDA margin | +51.1% | +44.2% | +45.5% | +34.1% | +36.4% | +27.9% | +31.0% | +26.6% |
| Depreciation | 1.13 | 1.34 | 0.59 | 0.75 | 0.75 | 0.50 | 0.32 | 0.16 |
| Interest | 26.72 | 19.89 | 13.60 | 8.36 | 7.08 | 5.62 | 4.33 | 3.90 |
| Profit before tax | 11.21 | 10.43 | 9.94 | 7.38 | 6.84 | 5.24 | 7.82 | 4.66 |
| Tax | 2.77 | 2.38 | 2.97 | 1.47 | 1.74 | 1.33 | 2.18 | 1.19 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 208 | 141 | 90.26 | 50.49 | 43.64 | 20.45 | 16.31 |
| Revenue growth | +47.6% | +56.2% | +78.8% | +15.7% | +113.4% | +25.4% | - |
| Other income | 1.84 | 0.11 | 0.01 | 0.14 | 0.01 | 0.00 | 0.07 |
| Total expenses | 122 | 99.45 | 62.40 | 25.66 | 13.00 | 7.34 | 2.87 |
| Employee cost | 17.97 | 11.22 | 2.67 | 1.73 | 1.87 | 1.06 | 0.71 |
| EBITDA | 86.02 | 41.50 | 27.86 | 24.83 | 30.64 | 13.11 | 13.44 |
| EBITDA margin | +41.4% | +29.4% | +30.9% | +49.2% | +70.2% | +64.1% | +82.4% |
| Depreciation | 3.42 | 1.05 | 0.47 | 0.43 | 0.29 | 0.20 | 0.09 |
| Interest | 49.84 | 16.95 | 6.17 | 4.95 | 3.31 | 6.84 | 8.08 |
| Profit before tax | 34.60 | 23.61 | 21.23 | 19.59 | 27.05 | 6.07 | 5.34 |
| Tax | 8.57 | 6.21 | 5.15 | 5.28 | 5.45 | 1.57 | 1.31 |
| Net profit | 26.03 | 17.40 | 16.08 | 14.31 | 4.85 | 4.50 | 4.03 |
| Net profit margin | +12.5% | +12.3% | +17.8% | +28.3% | +11.1% | +22.0% | +24.7% |
| EPS (βΉ) | 1.86 | 1.37 | 1.27 | 1.13 | 1.70 | 0.36 | 0.32 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 14.01 | 12.69 | 12.69 | 12.69 | 12.69 | 12.69 | 12.69 |
| Reserves & surplus | 321 | 194 | 176 | 160 | 145 | 123 | 119 |
| Shareholders' funds (net worth) | 345 | 206 | 189 | 172 | 158 | 136 | 131 |
| Secured loans | 697 | 125 | 52.65 | 17.10 | 12.18 | 0.00 | 0.00 |
| Unsecured loans | 150 | 116 | 22.75 | 34.53 | 11.48 | 76.23 | 73.22 |
| Total debt | 847 | 241 | 75.40 | 51.63 | 23.66 | 76.23 | 73.22 |
| Total liabilities | 1,192 | 447 | 264 | 224 | 182 | 212 | 205 |
| Assets | |||||||
| Gross block | 31.82 | 9.53 | 1.70 | 2.08 | 1.23 | 0.76 | 0.38 |
| Net block | 26.52 | 7.65 | 0.87 | 1.17 | 0.62 | 0.44 | 0.25 |
| Capital work in progress | 0.00 | 7.56 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 7.41 | 5.30 | 3.47 | 4.10 | 5.09 | 12.58 | 10.69 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sundry debtors | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.50 |
| Cash & bank balances | 102 | 15.45 | 8.66 | 4.46 | 2.63 | 1.94 | 0.54 |
| Loans & advances | 26.66 | 14.81 | 12.46 | 3.59 | 1.86 | 1.20 | 0.29 |
| Total current assets | 129 | 30.26 | 21.12 | 8.05 | 4.49 | 3.14 | 1.33 |
| Total current liabilities | 39.12 | 29.46 | 19.55 | 10.47 | 4.44 | 2.59 | 0.97 |
| Net working capital | 89.66 | 0.80 | 1.57 | (2.42) | 0.05 | 0.55 | 0.36 |
| Total assets | 1,192 | 447 | 264 | 224 | 182 | 212 | 205 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 15.45 | 8.66 | 4.46 | 2.63 | 1.94 | 0.54 | 0.60 |
| Net cash from operating activities | (566) | (134) | (7.06) | (20.29) | 28.58 | 6.48 | (84.12) |
| Net cash from investing activities | (6.51) | (4.58) | (6.34) | (0.90) | 27.65 | (1.19) | (1.24) |
| Net cash from financing activities | 659 | 145 | 17.59 | 23.02 | (55.54) | (3.90) | 85.30 |
| Net change in cash | 86.67 | 6.80 | 4.19 | 1.83 | 0.69 | 1.40 | (0.06) |
| Closing cash | 102 | 15.45 | 8.66 | 4.46 | 2.63 | 1.94 | 0.54 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +47.6% | +56.2% | +78.8% | +15.7% | +113.4% | +25.4% | - |
| EBITDA growth | +107.3% | +49.0% | +12.2% | -19.0% | +133.7% | -2.5% | - |
| PBT growth | +46.6% | +11.2% | +8.4% | -27.6% | +345.6% | +13.7% | +352.5% |
| Net income growth | +49.6% | +8.2% | +12.4% | +195.1% | +7.8% | +11.7% | - |
| Revenue CAGR (3Y) | +60.3% | +47.8% | +64.0% | +45.7% | +42.7% | +18.4% | +16.3% |
| EBITDA CAGR (3Y) | +51.3% | +10.6% | +28.6% | +22.7% | +33.6% | +7.1% | +10.8% |
| Profitability & leverage | |||||||
| Net income margin | +12.5% | +12.3% | +17.8% | +28.3% | +49.5% | +22.0% | +24.7% |
| Return on capital employed | +10.3% | +11.4% | +11.2% | +12.1% | +4.8% | +6.2% | +8.6% |
| Return on net worth | +9.4% | +8.8% | +8.9% | +8.7% | +3.3% | +3.4% | +5.6% |
| Debt / equity | 1.97 | 0.80 | 0.35 | 0.23 | 0.34 | 0.56 | 1.15 |
| Long-term debt / equity | 1.90 | 0.68 | 0.27 | 0.19 | 0.26 | 0.44 | 1.07 |
| Interest cover | 60.34 | 41.90 | 22.53 | 20.29 | 10.91 | 52.98 | 60.52 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 10.15 | 25.12 | 47.76 | 30.59 | 43.87 | 35.88 | 68.25 |
| Inventory turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debtors turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 81.80 | 65.52 |
| EPS (βΉ) | 1.86 | 1.37 | 1.27 | 1.13 | 1.70 | 0.36 | 0.32 |
| Dividend per share (βΉ) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (βΉ) | 23.91 | 16.26 | 14.88 | 13.60 | 12.46 | 10.72 | 10.36 |
Timeline of Arvog
4 dated milestones of Arvog across 42 years, from founding to its latest funding, stage changes and deals.
- Founded Arvog is founded.
- IPO Lists on the stock exchange (IPO).
- Exit Acquired by Revolut.
- Funding First funding round of $5.2M.
Competitors of Arvog
Arvog has 3 listed competitors in our database, 3 of them funded. They include Kissht, Stashfin and Finnable.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| kissht.com | 2015 | Mumbai, India | $132.57M | 265 | Personal, business, and property loans are provided by Kissht. | |
| stashfin.com | 2016 | Gurugram, India | $115M | 175 | Digital lending and instant credit lines are provided to individuals. | |
| finnable.com | 2015 | Bengaluru, India | $33.9M | 1,409 | Online personal loans with minimal documentation are offered digitally. |
Detailed competitors of Arvog
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
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Web traffic of Arvog
The website of Arvog (arvog.com) receives about 16.2K visits a month.
- Monthly visits16.2K
▲ 712.6% vs previous month
Top companies in Alternative Lending
3 companies that operate in the same segment as Arvog (Alternative Lending) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Payment acceptance and processing solutions provider for businesses | 2018 | Gurugram, Haryana, India | USD 589.25 M | USD 179.52 M | 3,670 | |
Technology platform for real estate transactions and mortgages is provided. | 2014 | Gurugram, Haryana, India | USD 97.98 M | USD 28.9 M | 9,619 | |
Financial services are provided, specializing in personal and business loans. | 2016 | Mumbai, Maharashtra, India | USD 320.39 M | USD 106.45 M | 2,161 |
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Frequently Asked Questions about Arvog
Arvog was founded in 1984 and raised its 1st funding round 42 years after it was founded.
Arvog is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Amit Shroff is the CEO of Arvog, as recorded in our data.
Arvog has 248 employees.
The primary company behind Arvog, Finkurve Financial Services Limited, reported revenue of βΉ210 Cr for FY 2026, up 48% year on year.
Arvog was founded in 1984 in Mumbai, India, and operates in the fintech sector. An AI-powered platform is provided for consumer lending, with a focus on digital personal and gold loans. Customer-centric services are delivered through technology-driven processes. The company is led by directors including Ketan Kothari and Nishant Tolchand Ranka, alongside Chairman Priyank Rakesh Kothari and CEO Amit Shroff. Operations emphasize efficient, accessible finance solutions in the Indian market.
Arvog offers Gold Loans and Personal Loans.
Yes, Arvog is publicly traded on BSE under the ticker symbol FINKURVE.
Arvog has 1 investor. Key investors include Revolut.
Arvog is associated with 2 legal entities: Finkurve Financial Services Limited, Supama Financial Services Llp.
Yes. Arvog was acquired by Revolut in February 2022.

