Easebuzz reports profit in the seventh consecutive year; aims to cross $100Mn run rate over the next 12-18 months
Pune : Easebuzz, India’s fast growing digital payments platform, has released its FY23 financial numbers. The annual Gross Transaction Value (GTV) processed by the platform during the year crossed at a record INR 70,000 Crores, a 2.5x growth rate over FY22. The daily volume run rate of the platform touched 400K transactions. Easebuzz has seen a significant momentum in revenue of INR 236 Crores ($29Mn), a growth of more than 90%. The company has remained profitable since inception.
The Pune based fintech has carved a strong market presence with sector specific payment solution stacks for Education, eCommerce – D2C & Marketplaces, Real Estate, Travel & Hospitality, BFSI, etc. Easebuzz is enabling digital payment infrastructure for more than 1,00,000 businesses of varied sizes and scale, including marquee clients like IRCTC, BigBasket, Symbiosis University, MTDC, Akshaya Patra, DLF etc.
Unlike traditional payment players, Easebuzz’s USP lies in the modular nature of its plug-and-play APIs that can be easily integrable by both large, medium and small-scale businesses alike. Whether it is a large enterprise with a matured tech stack or a traditional SME seeking to digitise its payment flows, Easebuzz has flexible solutions for clients of varied scale and needs. Along with digitising Payment Collections and Payouts, Easebuzz APIs are helping businesses with smart billing, payment links, expense management, subscription payments, connected banking, auto-reconciliation with analytics & reporting. The company also has strong product pipeline and is expected to launch new products in the coming months.
As Indian businesses continue to invest in digitising payments and financial operations, Easebuzz is strategically positioned to capitalise this surging demand with the triple power of verticalised APIs, integrated payments, and robust tech stack. By transforming into the Financial Operating System (FOS) for businesses across India, Easebuzz is poised to capture the lion’s share of India’s $10 Trillion market opportunity by the year 2026.
In Q1 FY24, Easebuzz continues to build on its momentum, processing an average of billion dollars of GTV per month for its 1,00,000 strong merchant base. During the same period, Easebuzz recorded an annualized revenue run-rate of $35 Mn, and targets crossing $100 Mn of revenue run-rate over the next 12-18 months. With revenue run rate doubling every year and the company remaining profitable, Easebuzz has set its eyes on going public in next 3 to 4 years.
Siddharth Dani, Chief Financial Officer, Easebuzz said, “Strong performance of Easebuzz in FY 2023 reflects our commitment to provide sector specific full-stack solutions for online payments and digital commerce. Our greatest validation has been that we are able to consistently increase the wallet share from the merchants transacting on our platform. We estimate that along with organic growth, our strategic partnerships would help us drive a 5x growth in transacting merchant count in the next two years, and as we go forward we should see higher margins with operating leverage kicking in.”
Founded by Rohit Prasad in 2014 as a Payment Gateway Platform, Easebuzz has transformed itself into a full-stack technology platform building workflows and APIs to digitise and simplify Payments and Financial Operations for its clients. Its vertically focused APIs like FeesBuzz, EasyCollect, InstaCollect, Recurri are solving end-to-end payment collection problems of businesses across various sectors. With fintech becoming the infrastructure of all industries in the economy, Easebuzz has become the preferred payments partner for Indian Businesses seeking to go digital.