Easebuzz Targets $100 Mn Run Rate In 12-18 Months

Payment platform Easebuzz has released its financial numbers for FY23. The platform achieved a record-breaking annual Gross Transaction Value (GTV) of over Rs 70,000 crore, representing a remarkable growth rate of 2.5 times compared to the previous fiscal year. Additionally, Easebuzz recorded a daily volume run rate of 400,000 transactions. The company experienced substantial revenue momentum, with revenue growth of over 90 per cent to reach Rs 236 Crores ($29 million). Notably, Easebuzz has remained profitable since its inception.

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.”

The Pune-based fintech has carved a strong market presence with sector-specific payment solution stacks for education, ecommerce - D2C & marketplaces, real estate, travel and hospitality, BFSI, etc.

Easebuzz is enabling digital payment infrastructure for more than 1,00,000 businesses of varied sizes and scales, 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 scales 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, and auto-reconciliation with analytics & reporting. The company also has a 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 on 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.