Businesses now don’t have a zeal to get online but they have much bigger goal this time. This time they have a goal to integrate their processes to cater in the most possible manner. They have many automations that they have to focus upon.
On Thursday; the B2B platform Easebuzz announces a raise of $4 million. The company is a big name in the API business. The raise definitely comes with a related objective & strategy. To know that let’s get into details.
MORE ABOUT EASEBUZZ
The company is having a focused platform where businesses are given the flexibility to start up certain financial services in their own software. The major customers they cater to are regulators, banks, institutions and various networks. Their architecture is focused on layered structure having certain core offerings. The popular services in the form of applications are:
- Easy Collect
- Bridge Buzz
- Smart Billing
- Build Buzz
They are also planning to come up with neo banking services in the near future. The most prominent features that make the company unique are:
|Accounting in a dashboard||· Real time updates
· Online tracking
|100% secure & friendly||· End to End Encryption
· PCI DSS Complaint
|Lowest Failures||· High end technology|
|Reporting & Analytics||· Transaction Reports|
The instant onboarding coupled with single click checkout is very less found in the software found in the market. More than 25000 merchants have chosen the platform to make their business experience the wave of advanced security & seamless integration. The company saw a great financial year as they saw a 150% increase in their profits as compared to the last year.
DETAILS ABOUT EASEBUZZ RAISE
The company has received $ 4 million or close to Rs. 28.6 crore in its seed round which was successfully led by companies like 8i ventures, Varanium Capital, Guild Capital. The participation of former founders of citrus pay Amrish Rau & Jitendra Gupta was also acknowledged.
The allotment details are as follows:
|Number Of Shares||5662 preference shares|
|Issue Price||Rs. 50, 871.58 per share|
The amount invested by every investor is in the manner that the 8i ventures came up with Rs. 9.85 crore, Guild cap India with Rs. 7.5 crore, Varanium Capital invested Rs. 7.3 crore while the pay founders came up with Rs. 1.75 crore each and at last Kochi holdings gave up Rs. 45.3 Lakh. After raise; the company is now at a valuation of Rs. 125 crore.
The strategy ahead is to make the team more strong, focus more on the sales & marketing initiatives and offer their interface benefits to more small & mid sized businesses in the country. They are definitely going to affect the productivity.
The application programming interface now stands at the heart of the future market space. Growing economies specifically in the APAC region are going to witness this trend.
The market is said to $ 5.1 billion by the year 2023 having a growth rate of 32.9%. The retail segment will receive the highest attention. Therefore; companies like Easebuzz should be ready to exploit the opportunity having the requisite funds. The country is home to a lot of start-ups; making it even more better for these platforms to deepen their reach.