B2B Fintech Firm Easebuzz Raises $30 Mn Led By Bessemer

Pune-headquartered fintech firm Easebuzz has raised Rs 240 crore ($30 million) in a funding round led by Bessemer Venture Partners. 

The company has raised Rs 200 crore in primary capital and Rs 40 crore through a secondary deal, where existing investors sold their shares.

This is the company’s first major funding round since it last raised Rs 34 crore in 2021.

Existing investors 8i Ventures and Varanium Capital also took part in the round. 

Easebuzz already holds a payment aggregator licence from the RBI and now plans to apply for a cross-border licence, allowing it to enter the international payments market.

The company currently handles about $3 billion in transactions every month and aims to double that by the end of this financial year.

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“We have a target to go for an IPO in the next two to three years, since we are profitable already, we did not want to dilute much but also wanted a global venture fund on our capitalisation table,” said, Rohit Prasad, managing director of Easebuzz.

“We will invest the freshly raised funds in brand building, attract senior level talent to build a stronger team and also double down on the large sectors where we operate,” he added.

“We are investing in building offline payment capabilities for our clients, currently offline payments is only 10% of our overall revenue, we want this to grow over the next one to two years,” Prasad said.

Prasad said he doesn’t plan to apply for a non-banking finance company (NBFC) licence, but with the RBI’s PA licence, he’s looking to expand to Southeast Asia and the Middle East.

About Easebuzz

Founded in 2014 by Prasad, Easebuzz is a fintech platform that creates an ecosystem range of products and services to help businesses with payment collection, sending money, and managing their finances.

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