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Fintech minicorn Easebuzz has received the final authorisation from the Reserve Bank of India (RBI) to operate as a full-stack payment services platform offering online, offline and cross-border payments solutions to its clients.
The Pune-based startup said in a statement that the approval from the central bank will further enhance the positioning of Easebuzz to allow merchants to accept online payments, in-person payments via POS devices and UPI soundbox, and inward and outward cross border payments.
Earlier this year, the startup had received the final nod from the RBI to operate as an online payments aggregator (PA).
The cross-boarder payment aggregator licence will allow Easebuzz to expand its international payments solutions services. Under this vertical, the startup helps export businesses, D2C brand and ecommerce platforms who operate globally to accept payments in overseas markets and help them grow internationally.
Founded in 2014 by Rohit Prasad and Vikram Kumar, Easebuzz’s solutions allow merchants to accept payments via multiple methods like credit/ debit cards, UPI, net banking, wallets, and even subscriptions.
Beyond payments, Easebuzz also helps automate billing, track transactions, generate invoices, and handle refunds, making financial operations smoother and less time-consuming for businesses of all sizes.
The startup claims to have a client base of more than 2.5 Lakh, including the likes of IRCTC, BigBasket, Cult.Fit among others. Further, it accounts for an annual gross transaction value (GTV) of more than $50 Bn and processes 3 Mn transactions every day.
Till date, the startup has raised about $34 Mn from the likes of Varanium Capital Advisors,8i Ventures and JioGenNext among others. It last raised $30 Mn in its Series A funding round led by Bessemer Venture Partners in April.
In FY25, Easebuzz’s net profit surged multifold to INR 18.8 Cr from INR 40 Lakh in the previous fiscal year. Meanwhile, operating revenue zoomed 127% to INR 656 Cr from INR 289.2 Cr in FY24.
The development comes at a time when the RBI has been doling out final authorisation for a number of companies to operate as payment aggregators. Earlier this week, PayU received the final nod from the central bank to operate as a payment aggregator across online, offline, and cross-border transactions, while listed fintech major Pine Labs got the approval last week.
The post Easebuzz Gets Three RBI Licences To Operates As Payments Aggregator appeared first on Inc42 Media.
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