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Startup India
Flat White Capital Private Limited - internet in Delhi, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹35.12 Cr
▲ 8% YoY
Net loss · FY 2025
₹17.81 Cr
Net margin -50.7%
EBITDA · FY 2025
-₹15.53 Cr
EBITDA margin -44.2%
Authorised capital
₹50 Lakh
Registered with MCA
Paid-up capital
₹23.33 Lakh
Issued & subscribed
Open charges
₹4.4 Cr
Secured borrowings
Company age
6 yrs
Est. 2020
Employees · EPFO
232
Provident fund records
About Flat White Capital Private Limited
Data last updated:
Flat White Capital Private Limited is a private limited company based in Delhi, India, recognised as a startup by DPIIT. It operates in the online financial services segment of the internet and digital services sector. It was incorporated on 04 February 2020 and has been in existence for over 6 years.
The company is registered with the Registrar of Companies (ROC), Delhi, under CIN U66190DL2020PTC361351. Its GSTIN is 07AAECF0119Q1ZI (Delhi). The company holds 9 GST registrations, all of them active.
The company has an authorised share capital of ₹50 Lakh and a paid-up capital of ₹23.33 Lakh. It is led by directors including Deepak Abbot and Nitin Misra.
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Innov8 2nd Floor 44 Regal Building Cannaught Place New Delhi Central Delh, I, Delhi, India – 110001.
As per the financials filed for FY 2025, the company reported a revenue of ₹35.12 Cr, a growth of 8% compared to the previous year. For the same year it recorded a net loss of ₹17.81 Cr (net margin -50.7%) and EBITDA of -₹15.53 Cr (EBITDA margin -44.2%). Revenue has grown at a compounded annual rate (CAGR) of 92% over three years.
The company has about 232 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
The company is associated with 3 brands: TezEMI, Flat White Capital and Indiagold. As per MCA filings, the company has open charges of ₹4.4 Cr on record. Court records list 19 cases involving the company, including 17 filed by the company and 2 filed against it; 7 cases are pending. The company has 5 deals on record (3 funding rounds, 1 convertible or debt financing, 1 secondary share transfer), with disclosed funding of ₹180.33 Cr; the latest was in March 2024. Its 8 peer companies in the same principal business activity (other professional, scientific and technical activities) are compared by revenue, 4 larger and 4 smaller; the largest is Netsmartz IT Solutions Private Limited with revenue of ₹35.21 Cr. The company has 7 MSME Form 1 returns on record between 2022 and 2024, listing 60 overdue payments to 19 micro and small suppliers.
Flat White Capital Private Limited is registered as a small enterprise under the Udyam registration framework (Reg. No. UDYAM-DL-03-0022796). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website indiagold.co.
Company details
CIN U66190DL2020PTC361351
Registration Number 361351
Incorporation Date 04 February 2020
ROC Delhi
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
DPIIT Recognition Recognised Startup
MSME Classification Small
Udyam Registration UDYAM-DL-03-0022796
CIN history
Flat White Capital has one previous CIN (Corporate Identification Number): U65999DL2020PTC361351. The current CIN is U66190DL2020PTC361351, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U66190DL2020PTC361351 | Current |
| U65999DL2020PTC361351 | Previous |
Recognitions & Rankings of Flat White Capital
MSME (Udyam registered) Ministry of MSME
- Category
- Small (2024-25)
- Udyam number
- UDYAM-DL-03-0022796
Contact details
Flat White Capital Private Limited's registered office is in Delhi, Delhi. Its website is indiagold.co. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Apps
- Registered AddressInnov8 2nd Floor 44 Regal Building Cannaught Place New Delhi Central Delh, I, Delhi, India – 110001
- IndustryInternet, Online Financial Services
To see the full contact details of Flat White Capital Private Limited, buy the company report.
Comprehensive company report
Flat White Capital Private Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
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Brands
Flat White Capital operates multiple associated brands including TezEMI, Flat White Capital, and indiagold. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Provides an online platform for consumer debt repayment. | tezemi.com | |
| Gold loan services and digital gold offerings in the financial sector. | fwcap.in | |
| Gold loans are provided and digital gold purchases are facilitated. | indiagold.co |
Business activity
The main business activity of Flat White Capital is professional, scientific and technical. In detail, this covers other professional, scientific and technical activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| M | Professional, Scientific and Technical | M9 | Other professional, scientific and technical activities |
To see the full business activity and turnover split of Flat White Capital Private Limited, buy the company report.
Financials of Flat White Capital Private Limited
FY 2025 filings availableFlat White Capital Private Limited reported revenue of ₹35.12 Cr (up 8% YoY) for FY 2025.
Revenue · FY 2025
₹35.12 Cr ▲ 8%
Net loss · FY 2025
₹17.81 Cr margin -50.7%
EBITDA · FY 2025
-₹15.53 Cr margin -44.2%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 8%
3 years · compounded
▲ 92%
EBITDA CAGR growth
1 year
▲ 22%
3 years · compounded
▲ 18%
Revenue has grown at a compounded annual rate (CAGR) of 92% over three years, including 8% growth in the latest year. EBITDA rose 22% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
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| Other Income | |||||
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| Depreciation and Amortisation | |||||
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| Total Expenses | |||||
| EBITDA | -₹15.53 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹17.81 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
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| Inventories | |||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -44.2% | ||||
| Net Profit Margin | -50.7% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
| Current Ratio | |||||
| Quick Ratio | |||||
| Debt-to-Equity Ratio | |||||
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| Efficiency and Growth | |||||
| Asset Turnover | |||||
| Receivable Days | |||||
| Payable Days | |||||
| Inventory Days | |||||
| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Flat White Capital Private Limited, buy the company report.
Board of directors of Flat White Capital Private Limited
Flat White Capital has 3 current directors and 3 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Deepak Abbot Also directs: Indiagold Finance Private Limited | Director | 04 Feb 2020 | 6 Years 8 Months | Current |
| Nitin Misra Also directs: Indiagold Finance Private Limited | Director | 04 Feb 2020 | 6 Years 8 Months | Current |
| Yogesh Kumar Ahuja | Director | 21 Jan 2025 | 1 Years 9 Months | Current |
Peer comparison
Flat White Capital Private Limited is compared with the 8 companies closest to it by revenue in the same principal business activity (other professional, scientific and technical activities), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Netsmartz IT Solutions Private Limited | ₹35.21 Cr (FY 2025) | 21.0% | Chandigarh, India | |||
| Zerofox India Private Limited | ₹35.17 Cr (FY 2024) | 48.0% | Ashok Nagar Bengaluru, Karnataka, India | |||
| Province Infotech Private Limited | ₹35.15 Cr (FY 2024) | 24.0% | Gurugram, Haryana, India | |||
| Drstore Healthcare Services India Private Limited | ₹35.13 Cr (FY 2025) | 81.0% | Thane, Maharashtra, India | |||
| Flat White Capital Private Limitedthis company | ₹35.12 Cr (FY 2025) | -₹17.81 Cr | -50.7% | 8.0% | 232 | Delhi, India |
| Ingenia Polymers India Private Limited | ₹35.1 Cr (FY 2025) | 151.0% | Mumbai, Maharashtra, India | |||
| Aquarius Wealth Services Private Limited | ₹35.08 Cr (FY 2025) | 201487.0% | Bangalore, Karnataka, India | |||
| Centrix Project Solution Private Limited | ₹34.99 Cr (FY 2025) | 16.0% | Mumbai, Maharashtra, India | |||
| Unitac Energy Solutions (India) Private Limited | ₹34.89 Cr (FY 2025) | -14.0% | Kochi, Kerala, India |
To see the full peer comparison of Flat White Capital Private Limited, buy the company report.
Auditor
Flat White Capital Private Limited is audited by S. R. Batliboi & Associates LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S. R. Batliboi & Associates LLP | FY 2023 | 101049W/E300004 |
Shareholding
The shareholding of Flat White Capital Private Limited is on record for 3 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|
| Promoters | |||
| Domestic institutional investors (DII) | |||
| Foreign institutional investors (FII) | |||
| Public | |||
| Others |
To see the full shareholding pattern of Flat White Capital Private Limited, buy the company report.
Charges & borrowings
Open charges
₹4.4 Cr
Satisfied charges
None
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 29 Oct 2021 | 100510263 | Standard Chartered Bank | ₹4.4 Cr | Open |
Total charge records: 1 View all charges
Deals & funding
Flat White Capital Private Limited has 5 deals on record (3 funding rounds, 1 convertible or debt financing, 1 secondary share transfer), with disclosed funding of ₹180.33 Cr; the latest was in March 2024.
Total deals
5
Funding rounds
3
Convertible or debt financing
1
Secondary share transfer
1
Disclosed funding
₹180.33 Cr
Deals on record (3 of 5)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2024 | Secondary share transfer | Undisclosed | Buyer: Kettleborough VC Seller: 4 individuals |
| Sep 2021 | Funding round · Series A | ₹81.72 Cr | Investors: PayU Fintech Investments, Alpha Wave Global, Leo Capital |
| Apr 2020 | Funding round · Seed | ₹13.91 Cr | Investors: Leo Capital, Titan Capital, Blume Ventures, an individual |
To see the full deal history of Flat White Capital Private Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Flat White Capital Private Limited has 19 court cases on record: 17 filed by Flat White Capital, 2 filed against it. 7 cases are pending and 12 are disposed.
Total cases
19
Filed by the company
17
Filed against the company
2
Pending
7
Disposed
12
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 19 | 2 | 7 |
Cases on record (5 of 19)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, New Delhi, Delhi | Civil suit | Filed against the company by an individual | Pending |
| District court, Central, Delhi | Cheque dishonour complaint | Filed by the company against an individual | Pending |
| District court, Central, Delhi | Civil suit | Filed by the company against an individual | Pending |
| District court, Gurugram, Haryana | Cheque dishonour complaint | Filed by the company against an individual | Pending |
| District court, Gautam Buddha Nagar, Uttar Pradesh | Criminal case | Filed by the company against an individual | Pending |
To see the full case history of Flat White Capital Private Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
Flat White Capital Private Limited has 7 MSME Form 1 returns on record between 2022 and 2024, listing 60 overdue payments to 19 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 19)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| M N A Security & Placement Services | |||
| PJM and Associates | |||
| Drishti-Soft Solutions Private Limited | |||
| Shelli Tech LLP | |||
| an individual supplier |
To see the full MSME payment records of Flat White Capital Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Flat White Capital has 1 subsidiary company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
1
Subsidiary companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| Indiagold Finance Private Limited | U65990DL2021PTC385759 |
To see the full group structure of Flat White Capital Private Limited, buy the company report.
Employees & EPFO
Flat White Capital Private Limited has a workforce of 232 employees on its EPFO records as of Apr 09, 2024, across 1 active EPFO establishment.
Employee count
232
Active EPFO establishments
1
Employee growth
-27.73%
GST
Flat White Capital has 9 GST registrations: 9 active. The first 4 active GSTINs are listed below.
Total GSTINs
9
Active
9
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 07AAECF0119Q1ZI | Delhi | Active | 11 Oct 2021 |
| 06AAECF0119Q1ZK | Haryana | Active | 04 Mar 2020 |
| 27AAECF0119Q1CR | Maharashtra | Active | 29 Oct 2020 |
| 36AAECF0119Q1ZH | Telangana | Active | 18 Oct 2021 |
To see the full GST registrations and return filing status of Flat White Capital Private Limited, buy the company report.
Recent activity
Flat White Capital Private Limited has 6 board changes on record since 2020: 3 appointments and 3 cessations. The latest: Yogesh Kumar Ahuja ceased to be Additional Director on 29 Sep 2025.
AGM
Flat White Capital Private Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Ceased
Yogesh Kumar Ahuja ceased to be Additional Director.
Filing
Flat White Capital Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Delhi.
Ceased
Avdhesh Dhavarkaprasad Tripathi ceased to be Additional Director.
Appointed
Yogesh Kumar Ahuja was appointed as Director.
Ceased
Mayuresh Arun Kini ceased to be Nominee Director.
Charges
A charge with Standard Chartered Bank amounted to Rs. 440.00 Lakh with Charge ID 100510263 was registered on 29 Oct 2021.
Appointed
Deepak Abbot was appointed as Director.
Appointed
Nitin Misra was appointed as Director.
Incorporation
04 Feb 2020
Flat White Capital Private Limited was registered on 04 Feb 2020 with Roc Delhi & aged 6 years 8 months as per MCA records.
Frequently asked questions
Flat White Capital is an active private limited company based in Delhi, India. The company works in online financial services, within the internet industry. It was incorporated on 04 February 2020 (6+ years old) and is registered under CIN U66190DL2020PTC361351.
Flat White Capital has 3 current directors:
- Deepak Abbot - Director
- Nitin Misra - Director
- Yogesh Kumar Ahuja - Director
The latest financial statements of Flat White Capital on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from FY 2020 are in the company report.
The GSTIN of Flat White Capital is 07AAECF0119Q1ZI, registered in Delhi. The company has 9 GST registrations in all, of which 9 are active. Other active GSTINs include 06AAECF0119Q1ZK (Haryana), 27AAECF0119Q1CR (Maharashtra), 36AAECF0119Q1ZH (Telangana).
The CIN (Corporate Identification Number) of Flat White Capital is U66190DL2020PTC361351. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Flat White Capital has 19 court cases on record: 17 filed by the company and 2 filed against it. 7 are pending.
Flat White Capital was incorporated on 04 February 2020, making it 6+ years old. It is registered with the Registrar of Companies, Delhi.
Flat White Capital has 5 deals on record (3 funding rounds, 1 convertible or debt financing, 1 secondary share transfer), with disclosed funding of ₹180.33 Cr; the latest was in March 2024.
The peers of Flat White Capital by revenue are Netsmartz IT Solutions Private Limited, Zerofox India Private Limited, Province Infotech Private Limited, Drstore Healthcare Services India Private Limited, Ingenia Polymers India Private Limited and 3 more, all in the same principal business activity (other professional, scientific and technical activities).
Yogesh Kumar Ahuja ceased to be Additional Director on 29 Sep 2025. Avdhesh Dhavarkaprasad Tripathi ceased to be Additional Director on 21 Jan 2025. Yogesh Kumar Ahuja was appointed as Director on 21 Jan 2025. Flat White Capital has 6 board changes on record in total.
Yes, Flat White Capital is recognised as a startup by the Department for Promotion of Industry and Internal Trade (DPIIT).
Yes, Flat White Capital is registered as a small enterprise under Udyam registration (number: UDYAM-DL-03-0022796).
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