MIDASX, a burgeoning fintech ecosystem in India, has reported its strongest quarterly performance since its inception, achieving a significant 30% revenue growth in Q3 FY 25–26. This achievement marks a pivotal milestone as the company reached break-even for its Software as a Service (SaaS) division, showcasing improved unit economics, product market fit, and overall operational maturity.
Aakash Bansal, Co-Founder and CEO of MIDASX, expressed enthusiasm about this turning point, stating, “Q3 FY 25–26 marks a clear inflection point for MIDASX. We’ve moved decisively from building to scaling, achieving cash-flow positivity, and launching a truly multi-asset, AI-powered fintech ecosystem.” Bansal emphasized that MIDASX is not just another software provider, but is establishing infrastructure for the future of financial distribution in India, aiming to empower Mutual Fund Distributors (MFDs) and intermediaries at scale.
In the last quarter, MIDASX expanded its operations into three main divisions: its SaaS platform, now operating at breakeven, a revamped B2B2C Multi Asset Marketplace, and the integration of AI in its Wealth Tech services for MFDs. The company has also doubled its workforce, growing from 56 to over 100 employees, and opened a new office in Mumbai’s financial district, accommodating over 100 seats.
MIDASX is enhancing operational efficiency for MFDs through tools like Portfolio Genius, which provides immediate insights on client portfolios, and Agent M, which enriches each insight with comprehensive research. The platform’s Digital Avatar feature personalizes the user experience, enhancing MFD presence significantly.
Additionally, the launch of the multi-asset marketplace enables swift activation of a variety of financial products, including Mutual Funds, stocks, and more. In the last quarter, the platform successfully onboarded over 250 new Independent Financial Advisors (IFAs).
Looking forward to Q4 FY 25–26, MIDASX aims to further scale its marketplace by onboarding over 25 additional product manufacturers, enhancing its AI-driven workflows, and hosting more than 100 physical events and webinars across the country.
Founded by Rajesh Soni, Aakash Bansal, Paresh Paladiya, and Anil Gupta, Vijya Fintech, the parent company of MIDASX, has quickly become a prominent player in India’s fintech landscape, supporting over 1,750 distributors and serving more than 550,000 investors nationwide. This growth not only positions MIDASX as a leader in the financial distribution ecosystem but also highlights the increasing reliance on technology to enhance client experiences in the wealth management sector.