money-on-mobile

Calpian-backed mobile money service Money On Mobile has reported revenues of Rs 322.1 crore ($52.2 million) for the quarter ended September 30, 2014, registering a 34% growth from Rs 240.5 crore in the previous quarter and up 76.3% from Rs 182.7 crore in the quarter before.

Note that Calpian started consolidated Money on Mobile’s revenues within its financial results from Q4-FY14, prior to which it was reported as an investment. The company had increased its stake in Digital Payments Processing Limited (Money On Mobile) to a majority 69% in the first calendar quarter of 2014, from 49.9% stake as of December 2013.

The overall consolidated revenues of Calpian was at $59.2 million for the quarter, up 30% from $45.7 million in the previous quarter. This includes revenues of $6.1 million from its domestic US market which grew marginally by 2% sequentially.

Money On Mobile q2 fy15 revenues

User base: Calpian claims that Money On Mobile was accessed by 7.9 million unique users in September this year, as compared to 7.7 million unique users in August this year. The service has apparently been accessed by more than 107 million unique users since its inception as of September 31, 2014.

The service is now offered through 2.19 lakh retail locations (219,563 retail locations), up from 2.11 lakh retail locations (210,497 retail locations) in August 2014.

Transaction Volume: The processed transaction volume grew by 11.5% month-on-month to $20.3 million as of September 2014, from $18.2 million in August 2014. Calpian mentions that the processed transaction volume has grown by 71% in the past six months.

Cashflow: Calpian has $2 million cash as of September 30, 2014, down from $5.8 million in the previous quarter. The company mentions that the cashflow declined by $3.8 million from the prior quarter due to its continued investment in Money on Mobile. During the quarter, Calpian also sold a portion of its domestic assets to reduce senior debt by almost $4 million to $9.3 million.

Calpian Cashflow

Note that the Calpian had earlier concluded a private placement offering of $8.3 million on May 21, 2014. It had also raised $1 million from the Hall Financial group founder & chairman Craig Hall in March this year, who has committed a total investment of $5 million into the company.

A group of Silicon Valley executives led by Babu Vinod Sivadasan, Executive Vice President (Engineering) at Envestnet Asset Management had also invested an undisclosed amount of growth investment into Calpian in February this year.