Tag: CAGR

News

ET Money Surpasses INR 60,000 Crore in Asset and Also Emerges as India’s Largest Advisory-Based Wealth Management Firm

May 3, 2024 by Sujata Muguda 0 Comments #CAGR, #ET Money, #Mukesh Kalra

New Delhi, May 3, 2024: ET Money, India’s leading investment platform, has become a top player in the country’s rapidly expanding online wealth management market by focusing on long-term wealth accumulation for affluent Indians. This strategic choice has allowed them to avoid the allure of short-term stock trading. As of March 31, the platform helped its users manage INR 63,000 crore (approximately $8 billion) in investment assets and, on an average, is adding INR 2,700 crore of new assets every month.

The company’s subscription-based advisory service, ET Money Genius, has also demonstrated significant growth, with its paid subscriber base expanding at a compound annual growth rate (CAGR) of 162% over the past two years. This growth has positioned ET Money as India’s largest Registered Investment Advisor (RIA) in terms of the number of paid customers. ET Money Genius is unlocking a new customer segment with annual income between INR 10 lakh to INR 1 Crore—a demographic previously unable to afford high-end wealth management services offered only to the ultra-rich Indians. By leveraging technology, ET Money Genius offers affordable access to sophisticated advice for just INR 249 per month, pioneering a subscription model in the wealth management sector that mirrors successful strategies in the OTT space in India.

“Our growth in assets and Genius indicates the rapidly compounding Trust of our users in ET Money”, states the CEO of ET Money, Mukesh Kalra. “By eliminating commission fees on mutual funds and introducing a transparent, flat-rate advisory fee with our Genius service, we continue to deeply align our business objectives with our customers’ financial success”

ET Money has been consistently gross-profitable each month for the last 11 months and has shown robust revenue growth at a CAGR of 90% over the last three years. Notably, about 70% of its revenue is recurring in nature. Additionally, nearly all its new investors in the past nine months discovered ET Money organically through word-of-mouth referrals, and the company boasts an annual user retention rate of over 90%. Another boost to ET Money’s financial profile would be the recently announced Execution Only Platform (EOP) license by SEBI, which would allow ET Money to monetise direct mutual funds and improve its gross margin to go beyond 80%. High user trust and retention combined with a recurring revenue business model and improving gross margins suggest ET Money is on a solid path to long-term profitability and growth.

News

A Momentous 2023, Headlined by a 19% increase of ARR, Positions Percona for Even Greater Success in the Year Ahead

Apr 3, 2024 by Sujata Muguda 0 Comments #Ann Schlemmer, #ARR, #CAGR, #Percona

Percona, a leader in enterprise-grade, open source database software, support, and services, has entered 2024 fresh off a year marked by sustained customer growth, multiple prestigious award wins, and innovative product enhancements. The company’s impressive 2023 has further solidified its standing as a go-to provider of open source database solutions and support services.

Having predicted the database market to clear $100 billion in 2023, Gartner forecasts the market to grow at a compound annual growth rate (CAGR) of 16.8% through 2027 and reach $203.6 billion. This underscores sustained demand for sophisticated database management expertise to ensure optimal performance, security, and reliability. Uniquely qualified to address these needs, Percona has capitalized on the expanding opportunity, realizing a 19% increase in Annual Recurring Revenue (ARR).

Customer-Led Growth

Fueled by ongoing innovation and an unwavering commitment to customer success, Percona has continued to broaden its customer base — with both new customer acquisitions and expanded relationships with existing customers contributing to its fully organic growth.

One notable example, EveryMatrix, a prominent iGaming software provider, has benefited from Percona’s managed services expertise, optimizing their database management for MySQL, MariaDB, and PostgreSQL. This collaboration has resulted in enhanced database performance, resilience, and security, empowering EveryMatrix to focus on innovation and customer satisfaction within the highly competitive online gaming industry.

Similarly, PagerDuty relies on Percona’s support for MySQL, ensuring reliable and high-performance database instances critical to PagerDuty’s operations. Percona’s proactive assistance, including end-of-life support for MySQL 5.7 and migration planning, underscores its commitment to delivering exceptional support and expertise to its clientele.

2023 also saw some of the world’s most recognizable brands signing on with Percona or expanding the scope of their engagement. Percona began supporting companies such as Netflix and the United States Geological Survey. The company expanded its scope further by partnering with Merchant Warrior, Otto Office, and Kontron, among others.

Awards and Recognition

Percona’s track record as a leader in the open source database community yielded several prestigious awards and acknowledgments in 2023.

Most recently, the company secured the title of “Best DevOps for DataOps/Database Solution” at the Devops Dozen awards, illustrating its commitment to delivering cutting-edge solutions tailored to modern DevOps practices. Additionally, Percona’s innovative products have been featured among the trend-setting products in data and information management for 2024 by DBTA (Database Trends and Applications), further validating its position as an industry trailblazer.

Moreover, Percona thought leaders like CEO Ann Schlemmer and Technology Evangelist Dave Stokes have garnered attention in publications such as Forbes, Computer Weekly, InfoWorld, The New Stack, The Register, and more. In these thought pieces Percona’s leaders have spearheaded discussions on data and open source, shaping the discourse around emerging trends and best practices.

Innovations and Enhancements

Percona continued to push the boundaries of database innovation with the recent Beta release of Percona Everest, an open source cloud-native database platform. Percona Everest is the first open source solution that combines multi-cloud and multi-database capabilities in one platform. With an intuitive user interface (UI) and command-line interface (CLI), Percona Everest offers advanced database provisioning and management features at no cost while providing control over infrastructure expenses, eliminating vendor lock-in.

Percona Everest allows users to enjoy flexible features such as provisioning, scalability, performance optimization, and high availability with full automation. By integrating with Kubernetes Operators, Percona Everest empowers users to run databases anywhere, liberating them from the constraints of public cloud platforms.

In addition to the Beta release of Percona Everest, Percona introduced numerous enhancements and updates to its product lineup over the course of 2023, including:

A complete post-EOL support program for MySQL 5.7, which allows participating customers to continue to operate on a fully supported Percona Server for MySQL 5.7 until upgrading to later major versions becomes more convenient. Within this program, Percona continues to release the CVE-patched versions of MySQL 5.7 to participating customers.
Percona Monitoring and Management (PMM) introduced MongoDB backup monitoring capabilities, which provide users with a streamlined backup and restore process and improved inventory management.

Primed for Growth

Looking ahead, Percona is poised for continued expansion. The company remains steadfast in its mission to make enterprise databases run better through a unique blend of expertise and open source software.

“As we reflect on our recent achievements and the strides we’ve made in 2023, it’s clear that all the attributes customers value in a vendor – dedication to innovation, customer-centric solutions, and fostering meaningful relationships – are moving Percona in the right direction,” said Ann Schlemmer, CEO of Percona. “We are proud of each milestone we’ve reached and the incredible team that has gotten us here, and we look forward to continuing our commitment to driving progress.”

Percona will reaffirm its leadership within the open source database community by participating in key industry events throughout 2024, including KubeCon North America and Open Source Summit North America. At these events, and many others, Percona will continue to expand its impact on the open source database community.

Business World

Platforms pioneering contactless payment space

Oct 12, 2020 by Gouri Achary 0 Comments #CAGR, #CONTACTLESS PAYMENT, #DigitSecure, #PayCore, #SmartPesa, #SoftSpace

In the current environment, there has been significant growth in the adoption of contactless payments, both globally and in India. The global contactless payments market size was valued at USD 8.3 Billion in 2019 and is projected to reach USD 19.3 Billion by 2026, registering a CAGR of 12.8% from 2020 to 2026. Consumers are aware that contactless technology and digital payments can ease some of the tension by reducing a measure of daily risk when we pay. This technology also empowers some of the most financially vulnerable with a safe and secure way to make and receive payments.

Hereby enclosing, platforms that are redefining the contactless payment space:

1. DigitSecure: DigitSecure is a fintech, payment services provider, that displaces PoS terminals with a mobile application for accepting touchless payments – contactless and QR — safely and securely. The PCI Certifed device- and OS-agnostic solution, offered as SoftPoS Platform as a Service, makes touchless payments acceptance simple and affordable for millions of SMEs in India and across the globe. Its USP lies in being a low-cost, fast, and efficient app-based payment solution and in its ability to rapidly onboard merchants for accepting touchless payments. With a mission to accelerate the acceptance of touchless payments by making it simple and affordable, Jaya Krishna Gullapalli founded DigitSecure India Pvt. Ltd. in September 2007, in Hyderabad. Today, the platform addresses the need for an affordable payment solution that meets Indian regulatory requirements while facilitating the growing preference for touchless transactions across the globe.

2. SoftSpace: Founded in 2012, Soft Space is a leading FinTech player in the ASEAN region headquartered in Kuala Lumpur, Malaysia. With over 20 financial institutions in 10 countries adopting its solution, the company is now gravitating towards expanding into omnichannel payments that include the adoption of artificial intelligence, QR code payments, E-wallet systems and money lending schemes. It focuses on revolutionizing and developing innovative solutions for the banking and payment industry

3. SmartPesa: SmartPesa is a specialized payments and agency banking technology solutions, provider. Easily accept card-present and e-Commerce transactions. SmartPesa supports all types of cards, including locally issued cards and international card schemes such as Visa, Mastercard, and China UnionPay. Fully extendable to Wallets such as Android Pay, Apple Pay and Samsung Pay; and technologies such as AliPay, WeChat Pay, QR codes, and biometrics. Fully white-labelled mobile application to quickly start accepting card payments. Intuitive with seamless Bluetooth pairing gets any merchant up-and-running in seconds.

4. PayCore: Since 2001, PayCore provides innovative end-to-end payment solutions for financial institutions, processors, telecom operators, personalization bureaus, retailers, terminal/card vendors, and last but not least public transportation authorities to more than 185 customers in 35 countries across the globe. It enables banks, processors, telecom operators and retailers for smooth implementation of digital payments in accordance with international payment standards. The solution supports in-app payments to enable payment transactions for e-commerce and m-commerce retailers as well as in the physical merchants like gas stations and transportation operators.