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Easebuzz Doubles Its Scale To Rs 230 Crore In FY23; Profits Remain High

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Easebuzz Doubles Its Scale To Rs 230 Crore In FY23; Profits Remain High

(CTN News) – A payments infrastructure startup, Easebuzz, recently announced that it achieved two-fold growth in its operational scale during FY23.

It seems that the Payment Aggregator license that the startup obtained in August 2022 played a pivotal role in driving this growth.

A company statement claimed that Easebuzz’s revenue from operations jumped 92.2% from Rs 122.8 crore in FY22 to Rs 236 crore in FY23 as compared to Rs 122.8 crore in FY22.

During the previous fiscal year, the company’s annual gross transaction value (GTV) grew 2.5 times, reaching Rs 70,000 crore, according to a statement.

It is a B2B-focused API-driven payment gateway and aggregator that is focused on the B2B market. Easebuzz claims that it processed 400,000 transactions during the previous fiscal year and that transaction fees were the only source of revenue for it.

Over 100K customers are reportedly using the company’s service with an annualized GTV of $8 billion, according to the company.

The Pune-based firm did not disclose its expense figure and pattern for FY23, but Fintrackr estimates its annual cost to come to the tune of Rs 234 crore based on the revenue and profit amounts that were provided by the company.

It is also claimed by Easebuzz that it has maintained profitability over the past fiscal year, and that it has almost posted a net profit of Rs 1 crore, and an operating profit of Rs 4 crore, in the last fiscal year.

The statement further stated that the company recorded annualized revenues of $35 million, and that it aims to cross $100 million in the next 12-18 months, according to the statement.

Additionally, Easebuzz anticipates a public listing within three to four years of the company going public.

Easebuzz appears to have impressive top and bottom lines as it continues to grow its YoY scale and profitability year after year, showing impressive growth every year.

This is also consistent with the current narrative in the funding environment, where investors are prone to backing companies that are growing and making a profit, as well as companies that have a clear roadmap to profitability.

As a result of the company’s consistent growth, investors are also showing an interest in the company: In a new round of funding, Easebuzz is in advanced stages of raising $20 million from the International Finance Corporation (IFC) and others.

In June, we were able to exclusively report the news about Entrackr’s potential fundraise, which will value the company at somewhere in the region of $120 million.
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