BusinessWire India
Mumbai (Maharashtra) [India], September 11: Verticalized SaaS payments platform Easebuzz has released its financial numbers for FY24. The annual Gross Transaction Value (GTV) processed by the platform during the year crossed a record Rs 1,00,000 Crore, a 48 per cent growth rate compared to FY23. With a rapidly expanding merchant base touching the 1,50,000 mark, the platform experienced a year-on-year revenue growth rate of 23 per cent, taking the revenues to Rs 290 Crore. The daily volume run rate of the platform touched close to 1 Mn transactions.
Despite headwinds in the fintech industry and changing regulatory landscape, Easebuzz is able to maintain its growth trajectory with strong focus on verticalization, personalization and compliance culture. With a robust tech and product suite, the platform has retained its dominance as one of the largest SaaS-based payment solutions providers in the Education segment, with over 10,000 institutes relying on its full-stack technology and payment infrastructure. Easebuzz offers solutions to some of the marquee clients across sectors like Parul University, State GRAS, Noida Power Corporation, BSES Rajdhani Power, GoKwik, IRCTC, DLF, Brigade, BigBasket, MTDC, etc.
Easebuzz is now foraying into B2B Payments and has recently launched its invoice management and payments platform in exclusive collaboration with NPCI Bharat BillPay Ltd. (NBBL), at the Global Fintech Festival 2024, in the presence of RBI Governor Shaktikanta Das and Nandan Nilekani, Chairman of Infosys, in Mumbai. This platform enables interoperability to the ecosystem, simplifying business payments. NPCI demonstrated interoperability of the platform during the mainstage launch event at the Global Fintech Festival, by successfully processing the cross-platform invoice payment on Easebuzz platform and payment gateway.
Rohit Prasad, Founder & CEO, Easebuzz, said, "Our partnership with NPCI Bharat BillPay in launching B2B Payments Platform is a significant step towards democratizing and transforming B2B transactions in India. Easebuzz Platform will help businesses with simplified invoice presentation and settlement processes and brings efficiencies across the supply chain. We aim to continue these industry-leading innovations that deliver value to businesses. B2B Payments will augment our existing revenue streams and will help us to reach the USD 50 Bn GTV milestone and USD 100 Mn revenue in FY25. We aim to achieve this growth while maintaining our strong record of profitability. Our technology-centric approach, focus on personalized solutions and compliance-driven culture has fostered trust among leading enterprises and government organizations. With increased market share and profitability at the core, we also aim to go public in the next 2 to 3 years."
Under the B2B platform, Easebuzz will onboard merchants, such as manufacturers and distributors, enabling their buyersincluding retailers and shopkeepersto pay for goods and services across various payment modes and channels. Businesses that are already onboarded on Easebuzz B2B platform includes Lenskart, 1Vendor Platform, Pice, Symbiosis University, SRV Media and many more. Buyers can pay multiple invoices in a single transaction using a wide array of payment modes, including UPI, net banking, cards, wallets, and NEFT, all facilitated by robust payment infrastructure of Easebuzz. The platform also facilitates invoice lifecycle management, flexible payment options, and integrated financing solutions. Additionally, the platform's Rewards, Accounting, and Compliance suites help businesses across various sectors streamline their payment processes and enhance cash flow management.
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