Saas Unicorn Leadingquared Shifts Focus to BFSI, Goals for 50% Income Contribution

Copyright © HT Digital Streams Limit all rights reserved. RWIT Ghosh 3 min Read 18 Aug 2025, 12:25 pm ist leadsquared, which automates sales and marketing to facilitate the sale to customers, has so far raised $ 188 million over ten financing rounds. Summary The decision to focus on BFSI is rooted in the potential of customers outreach by people such as insurance companies, brokers, wealth management services and retail banking. Leadsquared, the Westbridge Capital-backed Saas Unicorn, focuses on vertical banking, financial services and insurance (BFSI), and expects it to contribute 50% of the startup revenue in the next 24 months, and before his two other Key Streams-Edech and Healthcare. “BFSI can contribute 40%-50%. Education if a vertical will continue to grow, but the share as part of the revenue may fall about 20%or so,” co-founder and chief operating officer Prashant Singh told Mint in an interview. Leadsquared automates sales and marketing to facilitate selling to customers for teams within businesses. The company said it has so far raised $ 188 million over ten financing rounds. The company entered the Unicorn Club – Startups worth more than $ 1 billion in 2022, when it received $ 153 million in a series of C -round led by Westbridge Capital. The starting investors of the new markets include private equity firm Gaja Capital and Stakeboat Capital. Currently, the revenue share between BFSI and EDTCH is evenly divided to about 30%, healthcare is 10%and the rest is going to other sectors. According to the Leadsquared website, the customers of the company Lic Housing Finance, Poonawalla Fincorp, Practo, College Vidya and Bajaj include. The decision to focus on BFSI is rooted in the potential of customers outreach that regularly assures insurance companies, brokers, wealth management companies and banks. BFSI was a quick contractor of technology, which means that if startups can solve a problem for them, it will probably not only have repeated customers, but it is also those who can pay. “It’s a very strong balance sheet companies, so we don’t have the risk of a customer going off, as goes on in Edtech at the end,” Singh said. The sales and marketing automation platform began to raise its focus on the BFSI segment in 2022, when Edtech collapsed. When Edtech did well, Leadsquared’s clients included in the Sector Byju’s, Vedantu and Unacademy. “What we have done with Edtech in the past, we do with BFSI today,” Singh said. Global Business Leadsquared works mainly in India and the US, with India contributing 70% of revenue, the US 25% and the rest from other regions. The company entered the Middle East two quarters ago to take advantage of the increasing technical and first policy of the region as it attempts to move away from its dependence on oil. “If we have an office in Dubai, we give a foot in South Africa and the continent of Africa without having a presence in that region,” Singh said. Although there was an increase in requests from countries in Africa such as Kenya and Nigeria, some of the transactions did not materialize as a result of clients who wanted on the premises, which were not feasible at the time. This is why leadsquared expects to shear its revenue mixture. The company has decided to concentrate on the US business to increase its revenue service contribution and bring more from the business in the Middle East. “The split we want to see is 60% of India, 35% of the US and 5% from the Middle East,” Singh said. Leadsquared has not yet entered Southeast Asia and has regarded the countries of the region as lonely markets. The company will explore them as soon as it is confident about the foot of it in its three core regions. ‘There’s enough to be done in these three markets. It is also a matter of focus and bandwidth, “he said. It is alleged that the company will be ready for an initial public offer within 12 to 18 months. However, the leadership is clear that the company intends to achieve $ 100m (£ 874 crore) in revenue before going to public markets. The company closed FY24 at £ 279.3 crore, with 9.1% higher than £ 256 in FY23. Leadsquared has yet to submit its FY25 numbers to the Ministry of Corporate Affairs. “An IPO is one of the possibilities for the business. Among all possibilities it is the strongest, but to confirm that it is at the point within 18 months is Singh is not correct,” Singh said. Catch all the corporate news and updates on live currency. Download the Mint News app to get daily market updates and live business news. More Topics #BFSI #Startups Read Next Story