Snapmint, a buy now pay later (BNPL) startup, swung to a net profit in the fiscal ended March 31, 2025, according to a report.

The startup registered a net profit of Rs 15 crore in FY25 as compared to a net loss of Rs 33.6 crore in the previous financial year, the Entrackr reported citing internal documents and unidentified people aware of the matter.

Snapmint's revenue from operations increased to Rs 158.5 crore during the fiscal from Rs 88.5 crore in FY24.

The startup, which was founded by IIT Bombay graduates Nalin Agrawal, Anil Gelra and Abhineet Sawa iin 2017, offers no-cost EMI solutions for online shopping in India across categories.

Earlier in December 2024, the company had raised $18 million in a mix of debt and equity in a funding round led by Prashasta Seth, founder of Prudent Investment Managers. Perpetuity Ventures and Pegasus Fininvest also participated in the funding round.

The BNPL payment market in India is expected to grow by 13.4% on annual basis to reach US$21.95 billion in 2025, according to a ResearchAndMarkets report. By the end of 2030, the sector is projected to expand to around $35.07 billion driven by the growth of e-commerce, the entry of diverse providers, and increasing consumer demand for flexible payment options.