Easebuzz, a payments solution provider, has raised $4 million in a Series A round led by 8i Ventures, Varanium Capital, and Guild Capital. Former Citrus Pay founders Amrish Rau and Jitendra Gupta also participated as angel investors in this round. This is Easebuzz’s first funding round and Vertices Partners was the legal advisor to the company. This funds is used to strengthen the product team, enhance sales and marketing efforts, and offer more payment APIs and solutions for small and mid-size enterprises.
Easebuzz claimed that it had achieved 12X growth, both in revenues and gross transaction value, and currently processes nearly $3 billion of transactions a year. The company expects to hit a $10 billion annual run rate in the coming year.
At Symbiosis centre for entrepreneurship and innovation in 2017, this bootstrapped venture incubated and has been profitable since inception. Easebuzz was part of JioGenNext’s Scale cohort in fintech in 2019 and benefited from advice and support for their GTM strategy as well as fund raise.