Bootstrapped to billions: Zerodha becomes rare profitable fintech startup to achieve unicorn status
Before Zerodha became a unicorn, it was a ‘proficorn’ – a profitable startup with no external funding. Now, as India’s largest brokerage turns a decade old, it is formally claiming unicorn status, ‘conservatively’ valuing itself at $1 billion as it announces an employee stock options buyback plan.
In the past ten years, ever since brothers Nithin and Nikhil Kamath launched Zerodha in 2010, the duo has eschewed the ‘growth-at-any-cost’ approach adopted by many Indian startups, choosing instead to focus on building a sustainable business model backed by a solid tech product.
Nithin notes that the valuation of a private company is inconsequential unless it is planning to list in the market or has private investors. For Zerodha, which pioneered discount broking in India, rising to the top while competing with larger, more established rivals has come about because of its ability to take risks, be nimble, and stay product- and customer-focused.
Source Credit: Your Story