Easebuzz, India’s rapidly rising digital payments network, revealed its results for FY 23. The platform’s yearly Gross Transaction Value (GTV) processed throughout the year reached a new high of INR 70,000 crores, representing a 2.5x increase over FY22. The platform’s daily transaction volume surpassed 400K. Easebuzz has experienced a huge increase in revenue of INR 236 Crores ($29Mn), representing a more than 90 per cent increase. Since its inception, the company has been profitable.
With sector-specific payment solution stacks for Education, eCommerce – D2C & Marketplaces, Real Estate, Travel & Hospitality, BFSI, and others, the Pune-based fintech has built out a significant market position. Easebuzz provides digital payment infrastructure to over a million enterprises of all sizes and scale, including major clients such as IRCTC, BigBasket, Symbiosis University, MTDC, Akshaya Patra, DLF, and others.
Unlike traditional payment providers, Easebuzz’s unique selling point is the modularity of its plug-and-play APIs, which can be easily integrated by large, medium, and small-scale enterprises alike. Easebuzz has customizable solutions for clients of varying scale and demands, whether they are a major business with an established IT stack or a typical SME looking to digitise their payment operations.
Easebuzz APIs help organisations with smart billing, payment connections, expense management, subscription payments, connected banking, auto-reconciliation with analytics and reporting, in addition to digitising Payment Collections and Payouts. In addition, the company has a robust product pipeline and plans to launch new items in the future months.
With the triple power of verticalised APIs, integrated payments, and a robust tech stack, Easebuzz is perfectly positioned to profit on this increasing demand as Indian businesses continue to invest in digitising payments and financial operations. Easebuzz is poised to take the lion’s share of India’s $10 Trillion market opportunity by converting into the Financial Operating System (FOS) for businesses across India.
In Q1 FY24, Easebuzz maintained its momentum, processing an average of billion dollars in GTV every month for its 100,000 merchants. During the same time period, Easebuzz recorded an annualised revenue run-rate of $35 million and expects to surpass $100 million in revenue run-rate in the next 12-18 months. With revenue rising every year and the company being profitable, Easebuzz plans to go public in the 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.”
