Easebuzz Nets $30 Mn To Venture Into UPI

Pune-based fintech Easebuzz has secured $30 Mn (around INR 257 Cr) in Series A funding round led by Bessemer Venture Partners, along with participation from existing investors 8i Ventures and Varanium Capital.

The round was a mix of primary and secondary infusion. However, the startup did not disclose the investors names who have made the exits.

Easebuzz plans to deploy the fresh proceeds to boost its existing SaaS-based tech stack and merchant network, accelerate product development and also enhance its online payment aggregation capabilities, it said in a statement.

The startup also aims to enter the offline point-of-sale payment solutions offering and QR-based UPI payments, including a soundbox.

“This impetus will help accelerate our mission to build an ecosystem of technology products that enable rapid digitisation of payments and financial operations for businesses across India.” said Rohit Prasad, founder and CEO at Easebuzz.

Founded in 2014 by Prasad and Amit Kumar, Easebuzz helps businesses to digitise their payment collections processes. It specialises in catering to various sectors including education, real estate, ecommerce and SaaS-based platforms.

It also offers invoice management services and is a certified biller operating unit (BOU) on the Bharat Bill Payment System (BBPS), and connects service providers with its users to enable collection of bills and payments.

The startup claims to be serving about 2 Lakh businesses and with a gross transaction value amounting up to $30 Bn in the financial year ending March 31 2024-25 (FY25).

The recent funding round comes after a couple months of . Now, it is mulling to apply for a cross-border payment aggregator license to serve international markets.

In December last year, Easebuzz which would also include an employee stock option programme (ESOP) buyback component.

(The story will be updated soon)

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