Sector: Online Food Delivery and Services
Founded: 2008
Valuation: $15.29 billion (2024)

Company Overview: Zomato, the food delivery and restaurant aggregator, launched in 2008, is a shining example of a startup that successfully scaled while navigating complex financial controls.

Challenges encountered:

• As Zomato expanded globally at a rapid pace, it faced challenges managing its cash flows and regulatory compliance across various countries.
• The rapid influx of funds from investors required tighter financial scrutiny to ensure that all financial reporting and compliance standards were met.

Solutions Implemented:

• Zomato introduced automated financial reporting systems that consolidated financial data from multiple countries, ensuring compliance with local laws and taxation.
• They implemented a two-level approval process for significant financial transactions, reducing the risk of unauthorized expenditures.
• Zomato also initiated regular external audits to enhance investor confidence and identify gaps in its financial controls.
• Zomato leveraged technology to automate financial processes, reduce errors, and improve efficiency. This included implementing advanced analytics tools and financial software.

Outcomes Attained:

• With stronger financial controls in place, Zomato was able to streamline its reporting process and establish credibility among investors.

This level of financial discipline and transparency was a key factor in their successful IPO in July 2021, which was heavily oversubscribed and valued Zomato at over $12 billion.