Easebuzz raises $4 Million in Series A Round led by 8i Ventures & Others
Pune-based, API-driven full-stack payments solution provider, Easebuzz, has raised $4 million in a Series A round led by 8i Ventures, Varanium Capital, and Guild Capital. The round also saw participation from former Citrus Pay founders Amrish Rau and Jitendra Gupta as angel investors.
This is Easebuzz’s first funding round and Vertices Partners was the legal advisor to the company for the deal.
According to a company statement, Easebuzz will use this fresh capital to strengthen its product team, enhance sales & marketing efforts, and offer more payment APIs & solutions for small and mid-size enterprises.
Founded in 2015, Easebuzz is a software platform that helps B2B companies and growing enterprises manage their payments effectively. The startup aims to make the inclusion of financial services simple, easy, and affordable ultimately enabling B2B organizations and start-ups to become fintech themselves.
Founded by Rohit Prasad, the startup works with financial institutions, regulators, payment networks, banks, and consumer wallets.
“The current funding round will help us accelerate our mission of powering digital collections and payments for every retail business in India,” said, Rohit Prasad, MD, Easebuzz.
Easebuzz claims that it has achieved 12 times growth, both in revenues and gross transaction value, and currently processes nearly $3 billion of transactions a year. The company expects to hit a $10 billion annual run rate in the coming year.
Incubated by Symbiosis Centre for Entrepreneurship and Innovation in 2017, Easebuzz has been profitable since its inception. In 2019, Easebuzz was a member of JioGenNext's fintech Scale cohort and received advice and guidance for their GTM strategy as well as fundraising.
“India’s $800 billion retail economy is going hyper-digital and Easebuzz is the best-positioned payments player to take advantage of this massive market opportunity,” said Vikram Chachra, Founding Partner, 8i Ventures.
The Indian payment gateway aggregator market is expected to grow from the current Rs 9.5 trillion to about Rs 22.6 trillion in transactions worth by FY-25 as per the research reports by RedSeer.
Apoorv Gautam, India Head and COO of Guild Capital said “Growing digitization of merchants, driven by lockdowns and government policies favouring financial inclusion, have triggered an inflection point for the digital payment ecosystem in India.”
Easebuzz also plans to expand throughout the country, enabling new offerings on its platform to assist businesses in scaling their digital remittances and collections.
This is Easebuzz’s first funding round and Vertices Partners was the legal advisor to the company for the deal.
According to a company statement, Easebuzz will use this fresh capital to strengthen its product team, enhance sales & marketing efforts, and offer more payment APIs & solutions for small and mid-size enterprises.
Founded in 2015, Easebuzz is a software platform that helps B2B companies and growing enterprises manage their payments effectively. The startup aims to make the inclusion of financial services simple, easy, and affordable ultimately enabling B2B organizations and start-ups to become fintech themselves.
Founded by Rohit Prasad, the startup works with financial institutions, regulators, payment networks, banks, and consumer wallets.
“The current funding round will help us accelerate our mission of powering digital collections and payments for every retail business in India,” said, Rohit Prasad, MD, Easebuzz.
Easebuzz claims that it has achieved 12 times growth, both in revenues and gross transaction value, and currently processes nearly $3 billion of transactions a year. The company expects to hit a $10 billion annual run rate in the coming year.
Incubated by Symbiosis Centre for Entrepreneurship and Innovation in 2017, Easebuzz has been profitable since its inception. In 2019, Easebuzz was a member of JioGenNext's fintech Scale cohort and received advice and guidance for their GTM strategy as well as fundraising.
“India’s $800 billion retail economy is going hyper-digital and Easebuzz is the best-positioned payments player to take advantage of this massive market opportunity,” said Vikram Chachra, Founding Partner, 8i Ventures.
The Indian payment gateway aggregator market is expected to grow from the current Rs 9.5 trillion to about Rs 22.6 trillion in transactions worth by FY-25 as per the research reports by RedSeer.
Apoorv Gautam, India Head and COO of Guild Capital said “Growing digitization of merchants, driven by lockdowns and government policies favouring financial inclusion, have triggered an inflection point for the digital payment ecosystem in India.”
Easebuzz also plans to expand throughout the country, enabling new offerings on its platform to assist businesses in scaling their digital remittances and collections.
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