Easebuzz, a digital payment solutions provider, has received final authorisation from the Reserve Bank of India (RBI) to operate as an Online Payment Aggregator (PA).
The approval, which allows the firm to continue facilitating digital transactions for businesses, comes a week after it announced integration support for third-party payment orchestrators.
The company currently claims to processes an annualised Gross Transaction Value (GTV) of $30 billion and serves over 2 lakh businesses, including SMEs and startups.
"Receiving the final authorisation from the RBI is an important milestone for Easebuzz. It reflects our commitment to building secure and compliant digital payment solutions. We will continue to develop technology-driven solutions to support businesses in their digital growth," Rohit Prasad, Managing Director & CEO of Easebuzz said.
Explainer: What is behind the race for payment aggregator licences?
Founded in 2014, Easebuzz provides full-stack payment solutions to businesses of all sizes in India. It offers services such as payment collections, disbursals, automated reconciliation, vendor payments, and sub-merchant management through API-based solutions. The company serves various sectors, including travel, education, retail, NBFCs, insurance, and government organizations.
Moneycontrol had reported in December about Eazebuzz's plans to raise nearly Rs 200 crore, with Bessemer Venture Partners emerging as a key potential investor, per sources. The deal is likely to include an ESOP buyback, providing liquidity to employees and early backers. However, it remains unclear if Bessemer will lead the funding round, as discussions are said to involve other investors as well.
Easebuzz last raised funding in April 2021, securing nearly $4 million. The seed round was led by 8i Ventures, Varanium Capital, and Guild Capital, with participation from Amrish Rau (Pine labs) and Jitendra Gupta (Jupiter).
The SaaS payments platform's revenue grew by 23 percent to Rs 290 crore in FY24.
Easebuzz has also been scaling its offerings to solidify its position as a full-stack financial operating system. It recently forayed into the B2B payments space with the launch of an invoice management and payments platform in partnership with NPCI Bharat BillPay Ltd (NBBL). The platform enables merchants, including manufacturers and distributors, to streamline their payment collections by offering buyers—such as retailers and shopkeepers—multiple payment modes.
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