All Articles

2 teardowns published. Data first. No narratives.

Fintech / Insurance & Financial Products Distribution·Super Money

Rs 93.97 Cr Earned. Rs 147.81 Cr Lost. The Filing Behind Flipkart's Super Money.

Super Money posted Rs 93.97 Cr in revenue for FY2025. It lost Rs 147.81 Cr doing it. The filing is registered under a company called Scapic Innovations - an AR startup Flipkart acquired, left dormant for two years, and repurposed as its fintech arm.

12 min read · April 2026

Reality Check

2/10

Fintech / Fixed-Income Distribution Platform·Stable Money

Rs 104 Cr Revenue. Rs 3.6 Cr Real Business. Rs 44.9 Cr Lost.

Stable Money reported Rs 104 Cr in consolidated revenue. The platform itself retained Rs 3.6 Cr. The gap tells you everything.

10 min read · July 2025

Reality Check

3/10