Easebuzz, a Pune-based payments platform, has achieved a significant milestone by raising $30 million in a Series A funding round led by Bessemer Venture Partners. This funding round also saw participation from existing investors 8i Ventures and Varanium Capital, marking a mix of primary and secondary financing. The capital infusion is set to drive Easebuzz’s mission to transform India’s digital payments ecosystem.
About Easebuzz
Founded in Pune, Easebuzz specializes in providing sector-specific SaaS solutions embedded with payments infrastructure tailored for industries such as education, real estate, e-commerce, BFSI, government services, and travel. The platform has gained recognition for its robust offerings and serves prominent clients like Zepto, BigBasket, Bajaj FinServ, IRCTC, Star Health Insurance, Symbiosis University, and DLF.
Easebuzz recently partnered with NPCI Bharat BillPay to launch an interoperable B2B payments platform. Additionally, it operates as a Biller Operating Unit (BoU) under BBPS to facilitate seamless biller onboarding and collections.
Details of the Series A Funding Round
The $30 million funding round was spearheaded by Bessemer Venture Partners, with strong support from existing investors 8i Ventures and Varanium Capital. This mix of primary and secondary financing underscores investor confidence in Easebuzz’s potential to scale sustainably while driving innovation in the digital payments space.
Future Plans and Strategy
Easebuzz plans to utilize the raised capital strategically:
- Expansion of Vertical SaaS Stack: Enhancing its software solutions tailored for specific industries.
- Offline Payments Entry: Launching point-of-sale (POS) systems and UPI QR-based Soundbox solutions.
- Strengthening Merchant Network: Increasing market penetration through an expanded merchant base.
These initiatives aim to solidify Easebuzz’s position as a leading player in India’s payments infrastructure landscape.
Recent Achievements and Partnerships
Easebuzz has been making strides in the payments domain:
- It partnered with NPCI Bharat BillPay to introduce an interoperable B2B payments platform.
- Its recognition as a Biller Operating Unit (BoU) under BBPS highlights its capability in biller onboarding and collections.
These achievements reflect its commitment to innovation and operational excellence.
Regulatory Milestones
Easebuzz has received final authorization from the Reserve Bank of India (RBI) to operate as an online payment aggregator. Additionally, it is in the process of applying for a cross-border payment aggregator license to expand its services internationally.
Investor Insights
The funding round brought enthusiastic support from investors:
- Vishal Gupta of Bessemer Venture Partners praised Easebuzz for building a category-defining platform at the intersection of payments and vertical SaaS.
- Vikram Chachra from 8i Ventures highlighted Easebuzz’s deep understanding of industry-specific use cases.
- Aparajit Bhandarkar from Varanium Capital Advisors commended the founders’ ability to scale sustainably while maintaining profitability.
Their comments underscore the confidence in Easebuzz’s growth trajectory.
Conclusion
Easebuzz’s $30 million Series A funding marks a pivotal moment in its journey toward revolutionizing India’s digital economy. With plans to expand its SaaS offerings, enter offline payments, and strengthen its merchant network, Easebuzz is poised to become a dominant player in the digital payments infrastructure space.
As India continues its rapid digitization journey, platforms like Easebuzz are playing a crucial role in enabling businesses across sectors to streamline financial operations efficiently. The future looks promising for this Pune-based startup as it gears up for its next phase of growth.
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