Mandala Club operator’s revenue fell in 2023

The Singapore-headquartered operator of private clubhouse chain Mandala Club has continued to raise funding despite a revenue drop in 2023, according to its latest unaudited financial figures.

The Mandala Group also remains in the red, though its margins have improved from 2021.

Running cozy clubhouses in markets such as Bali and Niseko, the company has been relying on external capital for expansion. Its backers include DSG Consumer Partners and F&B firm The Lo and Behold Group. Both investors have tech startups in their portfolios.

The Mandala Group’s net loss stood at US$3.82 million in 2023, surpassing the US$2.98 million in cash and cash equivalents with which it had ended 2023. Since 2022, the company’s total liabilities have exceeded total assets, with the gap widening last year.

For more insights into Mandala Group’s performance, check out the rest of the charts below, which are updated every year.

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