- Xto10x, a firm founded by Flipkart’s Binny Bansal, reported $14M revenue in 15 months.
- The company has worked with over 200 startups, including RedDoorz, Swiggy, and Cred.
- Xto10x’s acquisition of Dockabl enabled scaling of its employee engagement.
Singapore entity generates $14M in 15 months
Xto10x, a software and consulting firm founded by Flipkart co-founder Binny Bansal, has reported a revenue of $14 million for its Singapore-listed entity from January 2022 to March 2023, according to Alternatives.pe.
This represents a nearly threefold increase from the $4.7 million generated in FYE 2021, with the majority of the revenue coming from consultancy services.
To date, Xto10x has worked over 200 companies, including notable startups such as RedDoorz, Swiggy, and Cred. The company raised $25 million in a funding round led by Bansal himself, who is also a co-founder of Xto10x.
Acquisition and platform scaling drive growth
Xto10x’s September 2021 acquisition of HR SaaS firm Dockabl enabled the company to scale its employee engagement and strategy execution platforms, 10xPeople and 10xGoals, respectively.
Despite achieving a gross profit of $7.3 million and being cash-flow positive, the company’s losses doubled to $5.3 million in the 15 months ended March 2023, primarily due to increased share-based payment expenses to employees.
To read the original article: https://www.techinasia.com/flipkart-cofounders-consulting-startup-sees-3x-revenue-surge
