Payments app super.money, founded by former Flipkart executive Prakash Sikaria, has scaled rapidly since its July 2024 launch. In just over a year, the UPI-first platform grew from 2.5 million to 250 million monthly transactions, with nearly 70% of users under 28.<\/p>\n
\u201cWe launched super.money with the belief that payments needed a youth-focused platform. UPI 1.0 solved for trust; UPI 2.0 is about financial products and experiences,\u201d Sikaria told Entrackr<\/strong>.<\/p>\n Around 85% of its transactions are scan-and-pay, a format that has clicked with young users. \u201cOur growth comes from a decluttered design with a central scanner, a brand voice that resonates with young India, and rewards that are simple and transparent,\u201d Sikaria said.<\/p>\n Unlike peers, super.money offers a flat 5% cashback without scratch cards or hidden terms. \u201cWe tested retention sensitivity to rewards. Even with reductions in small groups, the impact was minimal. Cashback is sustainable when backed by cross-sell revenues,\u201d he explained.<\/p>\n By February 2025, the app became the fifth-largest UPI player<\/a>, overtaking CRED. According to NPCI, super.money processed 252 million transactions worth Rs 9,018.71 crore in July. While UPI itself generates no revenue, Sikaria sees it as a gateway. \u201cUPI gives us over 100 touchpoints per user every month. We are closer to a digital bank with 10\u201320 million users consuming financial products, not just another UPI app competing with PhonePe or Paytm.\u201d<\/p>\n The company\u2019s revenue largely comes from personal loan cross-sell, followed by co-branded card fees and deposit commissions. Super.money claims 15% share of the RuPay secured credit card market. \u201cFor example, Rs 5,000 in an FD earns 8% interest plus 1% cashback\u2014effectively close to 20% returns,\u201d Sikaria noted.<\/p>\n Super.money currently partners with 12\u201315 lenders for loans, small finance banks for FDs, and offers UPI-led commerce like bill payments and flight bookings. Its acquisition of BharatX<\/a> is helping build EMI capabilities on UPI.<\/p>\n On profitability, Sikaria said, \u201cOur goal is to be contribution margin positive by December. That will address skepticism around cashback sustainability. We\u2019re very close to that target.\u201d Retention, he added, stands at 85%.<\/p>\n