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Xpressbees names Uday R. Sharma CBO for B2B, 3PL and cross-border

EntrackrEntrackr · 4m ago
Xpressbees names Uday R. Sharma CBO for B2B, 3PL and cross-border
Medial

Logistics and supply chain solutions provider Xpressbees has appointed Uday R. Sharma as Chief Business Officer - B2B, 3PL, and Cross Border. Uday brings nearly 30 years of experience in helping businesses scale-up, leading organizational turnarounds, and P&L management. His expertise spans business development, key account management, and customer relationship management. Before joining Xpressbees, Uday held leadership positions at Allcargo Logistics, Spoton Logistics, Safexpress, and Aramex India. With a history of fostering strategic business growth, he has effectively led cross-functional teams across multiple industries. According to Xpressbees, Uday’s vast experience and strategic vision will be key in scaling their B2B, 3PL, and Cross Border operations. The company looks forward to his contributions in strengthening its market presence and driving the company’s next phase of growth. Detailing his appointment, Uday R. Sharma said, "I am happy to take on this role with Xpressbees at such a pivotal stage of its growth. The logistics industry is evolving rapidly, and my role will be to leverage my experience to drive innovation, strengthen partnerships, and enhance customer value at Xpressbees”. Xpressbees is an end-to-end logistics solutions provider, offering a comprehensive range of services across e-commerce, B2B, 3PL, and Cross Border logistics. With a robust network and cutting-edge technology, Xpressbees is committed to delivering seamless and efficient supply chain solutions.

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XpressBees turns EBITDA positive in FY24, warehousing biz grows 60X

EntrackrEntrackr · 3m ago
XpressBees turns EBITDA positive in FY24, warehousing biz grows 60X
Medial

XpressBees turns EBITDA positive in FY24, warehousing biz grows 60X E-commerce-focused logistics and supply chain firm XpressBees managed only modest double-digit growth in the fiscal year ending March 2024. However, the company turned EBITDA positive during the same period, despite an increase in overall expenses. XpressBees’ operating revenue increased by 12% to Rs 2,831 crore in FY24 from Rs 2,531 crore in FY23, as per its consolidated financial statement sourced from the Registrar of Companies (RoC). XpressBees provides B2B/B2C express delivery service, cross-border logistics, and warehousing services to e-commerce players including Snapdeal, Myntra, Meesho, Netmeds, and Bigbasket, among others. Revenue from logistics services remained the primary source of income for XpressBees, accounting for 97% of the company’s total revenue. However, the company’s warehousing business, though smaller in size, posted an impressive jump (60X) — soaring from Rs 0.77 crore in FY23 to Rs 48 crore in FY24, signaling a strong push toward expanding its non-courier biz. The remaining revenue came from warehouse services (Rs 48 crore) and support services (Rs 31 crore), both of which witnessed notable growth. The firm also added Rs 109 crore from non-operating activities, which pushed its overall income to Rs 2940 crore in FY24. On the expense side, courier charges remained XpressBees’ largest cost component, rising 12% to Rs 1,816 crore in FY24. Linehaul charges saw a modest 6% increase to Rs 494 crore, while employee benefit expenses rose by nearly 10% to Rs 355 crore in the said fiscal year. Depreciation costs spiked 49% to Rs 159 crore, and other operational expenses contributed an additional Rs 319 crore. Overall, XpressBees’ total expenditure increased 13% year-on-year, reaching Rs 3,143 crore in FY24 from Rs 2,785 crore in FY23. With expenses growing faster than revenue, XpressBees' net loss widened by 11%, rising to Rs 200 crore in FY24 from Rs 180 crore in FY23. However, the Pune-based firm achieved EBITDA positivity, reporting an EBITDA of Rs 5 crore for the same period. The company’s ROCE stood at -8.32%, while its EBITDA margin came in at a modest 0.17%. On a per-unit basis, XpressBees spent Rs 1.11 to earn every rupee in revenue during FY24. XpressBees recorded current assets worth Rs 1867 crore in FY24, including Rs 1331 crore in cash and bank balances. Recently, Xpressbees acquired courier firm Trackon and named Uday R. Sharma as CBO for B2B, 3PL, and cross-border operations. According to startup data intelligence platform TheKredible, XpressBees has raised a total of $625 million in funding to date, having Norwest Venture Partners and Alibaba Group as its lead investors. The company’s Co-Founder & CEO Amitava Saha owns 3.15% of the company.

EximPe secures RBI PA-CB in-principle licence

EntrackrEntrackr · 26d ago
EximPe secures RBI PA-CB in-principle licence
Medial

Snippets EximPe secures RBI PA-CB in-principle licence EximPe, a cross-border payment startup, has secured the Reserve Bank of India’s (RBI) Payment Aggregator Cross-Border (PA-CB) In-Principle licence (export and import). According to EximPe, this makes the company one of the first to receive this new regulatory authorization without any existing payments licences. With this licence, it plans to enable compliant cross-border pay-ins and pay-outs for digital services, e-commerce, and B2B goods trade, serving businesses across Asian emerging markets. The PA-CB licence will significantly enhance the company’s ability to facilitate seamless cross-border payments and simplify compliance for businesses engaged in international trade. The licence will enable the startup to transition from a technology platform enabling cross border payments to being able to provide a fully regulated cross border infra play. Founded in 2021 by Arjun Zacharia, EximPe is an all-in-one platform that provides real time rate booking, compliance, and trade documentation for businesses. The company serves a range of businesses who trade or sell services globally. The Mumbai-based company had previously raised $3.5 million in Series A round from Leo Capital and others. “With this licence, EximPe is uniquely positioned to support businesses in expanding in the highest growth global corridor between India-Asia, while simplifying complex regulatory and financial requirements. With the PA-CB licence, we want to expand our business by 10X by the end of FY 2026,” said Arjun Zacharia, CEO and founder of EximPe. The platform claims to have already processed over $450 million in transactions and serves more than 5,000 SMEs, manufacturers, and service providers. It aims to further strengthen its position as a leading cross-border payment infrastructure provider by expanding its capabilities with this new licence.

UAE's National Pulse invests in Singapore fintech firm Aleta Planet

VCCircleVCCircle · 1y ago
UAE's National Pulse invests in Singapore fintech firm Aleta Planet
Medial

United Arab Emirates (UAE) strategic management company, National Pulse, has invested in Singapore-based payments solutions provider, Aleta Planet. The financial details of the investment were not disclosed. The investment will allow Aleta Planet to expand in the UAE, Middle East, and Africa, providing cross-border payment services for businesses in the region. Aleta Planet facilitates global payments, including through platforms like UnionPay, and handles around $2 billion in cross-border payments annually. With National Pulse's support, Aleta Planet aims to reach $6 billion in transactions within the next year. The companies also plan to establish a joint venture focusing on business-to-business cross-border transactions.

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