Bounce, which pivoted to become an electric scooter manufacturer at the start of the ongoing fiscal (FY22) with the acquisition of 22Motors was a scooter rental platform in FY21. The pivot and the pandemic on fiscal year (FY21) has wiped out its scale.
Bounce’s operating revenue fell by 83 percent during the year, to around Rs 15 crore in FY21 from Rs 87.5 crore in FY20.
Approximately 96 percent of the company’s operating revenue came from motorcycle and bicycle rentals in the six cities where it currently operates. This revenue was reduced by 83 percent in FY21 to Rs 14.4 crore from Rs 83.4 crore in FY20.
The remaining 4% of revenue came from the sale of products (such as safety kits, helmets, and electric power packs) and other ancillary services, which fell by 87 percent to Rs 60 lakhs in FY21 from Rs 4.1 crore in FY20.
In addition, the Bengaluru-based company earned finance income of Rs 38.34 crore in FY21, a 65 percent increase over Rs 23.22 crore in FY20. The firm had raised a series D round of $105 m in Jan 2020.
