MUMBAI: In what seems to validate the growing shift towards a transaction-led monetisable business model beyond conventional online classifieds, Quikr India has witnessed an almost doubling of its revenues in FY18.

The Bengaluru-based firm, which started operations in 2008 as a pureplay classifieds model deriving revenues from an ad-based listings model, has moved to a full-stack transaction-led business over the past two years. Quikr India has seen operational revenues rise 95% to Rs 173.49 crore in FY18, compared with Rs 88.67 crore last year as per financial documents filed with the Registrar of Companies.

The FY18 numbers are consolidated financials of the firm which include the companies it has acquired so far. Quikr maintains that over 55% of the FY18 revenues are driven by Quikr’s organic business alone. Quikr’s standalone revenue in FY17 formed about Rs 64 crore of the Rs 88.67 crore.

In FY18, revenues accrued through transactions formed over 56% of the overall operational revenues at?98.25 crore while revenues from the core classifieds business that includes advertising and lead-generation models came in at Rs 75.23 crore.

“The pace of growth will continue to be strong for both the classifieds and the transaction-led parts of the business. But we will see the transaction-led part of the business grow faster than the classifieds business over the next 1-2 years,” said Pranay Chulet, founder of Quikr.

This model has also aided Quikr in its second consecutive year of shrinking losses as the total loss for the year fell 28% to Rs 233 crore from Rs 324 crore last year. In fact, three of the firm’s five verticals including jobs, auto and real estate have turned cash flow positive, it claims.

Quikr is monetising only a small share of its overall traffic base of the 30 million monthly unique users it gets, with that share being at mid-single digit levels, the firm said, even as it maintained that conversion levels have improved by about 70% since the start of this fullstack model.