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Easebuzz raises $30 Mn, plans IPO in 2-3 years

EntrackrEntrackr ยท 4m ago
Easebuzz raises $30 Mn, plans IPO in 2-3 years
Medial

Digital payments company Easebuzz has raised Rs 240 crore ($30 million) in a funding round led by Bessemer Venture Partners. The round included Rs 200 crore in primary capital and Rs 40 crore in secondary capital. This is Easebuzzโ€™s first major funding since 2021, when it raised $4 million led by 8i Ventures and Varanium Capital. The proceeds will be used to boost branding, hire senior talent, and expand operations in key sectorsโ€”banking, government payments, real estate, and education, the company said in a press release. Easebuzz provides software tools to help onboard clients and currently serves 10,800 educational institutions. The Pune-based company processes $3 billion in monthly transactions and aims to double that by year-end. It also plans to grow offline payments, currently just 10% of revenue, and expand into Southeast Asia and the Middle East. Managing Director Rohit Prasad said the company is planning an IPO within the next 2โ€“3 years. "Weโ€™re already profitable, so we didnโ€™t want to dilute much but wanted a global fund on board,โ€ he said. Easebuzz reported a net profit of Rs 22 crore and a gross revenue of Rs 650 crore for FY25. Most of this revenue is used to settle payments with banks. Earlier this year, Easebuzz received final authorization from RBI to operate as an online payment aggregator and is in the process of applying for a cross-border payment aggregator license to serve international markets.

Decoding Easebuzzโ€™s Series A round, valuation and captable

EntrackrEntrackr ยท 4m ago
Decoding Easebuzzโ€™s Series A round, valuation and captable
Medial

Decoding Easebuzzโ€™s Series A round, valuation and captable Digital payments company Easebuzz has raised Rs 240 crore (approximately $28.2 million) in its Series A round including Rs 200 crore ($23.5 million) in primary capital and Rs 40 crore ($4.7 million) in secondary capital. The board at Easebuzz allotted 2,53,285 Series A CCPS and 7 equity shares at an issue price of Rs 7,896 per share to raise Rs 200 crore, its regulatory filing sourced from the Registrar of Companies (RoC) shows. This is the second funding round for the Pune-based company, before this, it raised $4 million in its seed round led by 8i Ventures, Varanium Capital, and Guild Capital. In the primary capital, Bessemer Venture Partners led the funding round with an investment of Rs 141.28 crore ($16.6 million), followed by existing investors Varanium Capital and 8i Ventures, who each contributed Rs 27 crore. Reed India Consulting also participated with an investment of Rs 4.7 crore. The proceeds will support business expansion, strengthen market presence, and fund investments in secure, scalable technology. They will also boost working capital, support marketing for customer growth and brand awareness, and address strategic corporate needsโ€”driving long-term growth and innovation in the digital payments sector. According to Entrackrโ€™s estimates, the company is expected to be valued at around $195โ€“$200 million post-allotment, a significant jump from its approximate $12 million valuation during the seed round. Easebuzz has raised $34 million to date. According to startup data intelligence platform TheKredible, 8i Ventures is the largest external shareholder with a 10.88% stake followed by Varanium Capital and Bessemer Venture Partners with 8.48% and 8.47%, respectively. Co-founder and MD of the company, Rohit Prasad holds a 27.84% stake. Notably, these shareholding percentages will change a bit following the secondary transaction disclosure. Founded in 2024, Easebuzz has established itself in the payment gateway space by catering specifically to small and medium-sized enterprises (SMEs). The company offers a comprehensive suite of plug-and-play APIs that facilitate seamless payment processing, disbursements, and financial operations. On a year-on-year basis, the company reported a 24% increase in its operating revenue to Rs 290 crore, while posting a profit of Rs 37.73 lakh during the same period. The platform also processed a Gross Transaction Value (GTV) of more than Rs 1,00,000 crore during the same period, according to the company. Easebuzz competes with some major players in the payment processing space including Razorpay, Cashfree Payments, Paytm, and PhonePe, among others.

Bessemer Venture Partners appoints Pankaj Mitra as Partner

EntrackrEntrackr ยท 2m ago
Bessemer Venture Partners appoints Pankaj Mitra as Partner
Medial

Bessemer Venture Partners appoints Pankaj Mitra as Partner Bessemer Venture Partners has welcomed Pankaj Mitra as a Partner in its India team. Mitra will lead investments in AI, enterprise-tech, and cybersecurity as Bessemer doubles down on its India strategy. He joins from Ciscoโ€™s corporate development team, where he led global investments and M&A for the Customer Experience portfolio. His track record includes notable bets on Fiddler, Uniphore, and Whatfix. Previously, he helped launch Infosysโ€™s $500 million innovation fund, investing in companies like Ideaforge and Whoop. He began his career at VMware and Deloitte, bringing a rare combination of product, strategy, and venture experience. โ€œThe ongoing AI platform shift offers a once-in-a-generation opportunity. Iโ€™m excited to partner with ambitious founders driving this evolution,โ€ said Mitra. This appointment follows Bessemerโ€™s announcement of its $350 million second India fund, with a focus on AI, fintech, enterprise, digital health, consumer, and cybersecurity. The firm has backed companies like Swiggy, Urban Company, Mediassist, Perfios, and recently Boldfit, Easebuzz, Protectt, Shopdeck, among others.

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