Swish
What it means
Swish's loss is more than half its revenue: its fee cuts and restaurant incentives are still subsidised.
Reported: Net loss of ₹19 cr on revenue of ₹4 cr in FY25.
- Affected
- Swish's restaurant partners — credit risk on every invoiceDo now: keep it on short payment terms until its next results: a partner losing that much a year prices for growth, not your margin.
- Eternal (quick commerce) — subsidised prices to faceDo now: don't match Swish's subsidised prices while it runs at a loss; its next results show how long it can keep them.
Latest moves
Our read of each move first, where we have one; what the report said is marked Reported.
Background
From 8 stories, the newest dated 13 Sept 2026. Summary written 4 Oct 2026.
Show 3 paragraphs and 8 sources
Swish is a Bengaluru-based quick-food startup that delivers food in about 10 minutes. [1] source: YourStory It is vertically integrated and runs its own kitchens, logistics and app. [1] source: YourStory Inc42 reported that it operates a company-operated kitchen network in Bengaluru and Delhi NCR. [2] source: Inc42 ET Retail reported that it serves five NCR and Bengaluru markets across around 50 pincodes, with more than 250 SKUs and over 20 food categories. [3] source: ET Retail
Swish raised $24 million in September 2026 in a round led by Bertelsmann India Investments. [4] source: Outlook Business[3] source: ET Retail Entrackr reported that this is an extended Series B of Rs 224.54 crore, valuing the company at about $175 million post-money. [5] source: Entrackr In June 2026, Moneycontrol reported that Swish raised $38 million in a round led by Hara Global and Bain Capital Ventures. [6] source: Moneycontrol Swish reports more than 1 million monthly orders, and its monthly orders have tripled since March 2026. [4] source: Outlook Business It targets more than 1,000 kitchens over five years. [4] source: Outlook Business[3] source: ET Retail
Entrackr said the funding supports competition with Blinkit, Zepto and Swiggy's fast-food formats. [5] source: Entrackr Financial Express listed Swish among the challengers testing food-delivery models alongside Rapido, Flipkart, BigBasket and Zepto. [7] source: Financial Express
Sources
Questions about Swish
What are Swish's expansion plans?
Swish raised $24 million in September 2026 to expand its kitchen network in Bengaluru and Delhi NCR, including Gurugram, Noida and Ghaziabad. It also plans to enter new cities and build more than 1,000 kitchens over five years. [2] source: Inc42[4] source: Outlook Business[3] source: ET Retail
How fast is Swish growing in India?
Swish reported more than 1 million monthly orders in September 2026, and its monthly orders have tripled since March 2026. [8] source: ET Retail[4] source: Outlook Business
What is Swish's current strategy in India?
Swish raised $38 million in June 2026 led by Hara Global and Bain Capital Ventures. [6] source: Moneycontrol In September 2026 it raised $24 million led by Bertelsmann India Investments to expand kitchens, supply chain and city footprint, targeting 1,000-plus kitchens in five years. [3] source: ET Retail
Stories that mention Swish
1 story
Swish is named in these stories but is not their subject.