Take rate is the share of gross merchandise value (GMV) or payment volume the platform retains as net revenue.

How it works

If $100 flows through a marketplace and the platform keeps $15, the take rate is 15%. Some businesses quote net take after refunds and payment processing; diligence clarifies definitions. Take rates reflect value captured for trust, liquidity, and software—not just payment rails.

Low take rates can win share; high take rates signal pricing power or captive supply.

Why it matters

• Founders: Model contribution margin after incentives; promotional take rate cuts need a path back to sustainable economics.
• Investors: Compare take rate trends across cohorts—compression often signals competition or mix shift to lower-margin categories.

Common mistake

Using GMV as revenue. Investors separate volume through the platform from the take rate slice you actually earn.

Related ideas

GMV, marketplace economics, unit economics, and take-rate compression.

When you will see it

Marketplace pitch decks show take rate by category and cohort—investors watch whether mix shift dilutes blended take over time.

Questions to ask

• Is take rate calculated on GMV net of refunds and chargebacks?
• What incentives temporarily reduce take rate for supply or demand?
• How does take rate compare to peers in the same vertical?

Practical takeaway

Treat take rate as something to define precisely in writing—not assume everyone in the room shares the same meaning. In term sheets, board decks, and LP updates, tie the concept to a concrete decision: a vote, a price input, a fund policy, or a metric formula. When definitions drift, teams misprice risk, miss leverage, or waste cycles on the wrong conversation.