B2B Fintech Startup Easebuzz In Talks To Raise INR 200 Cr

B2B fintech startup Easebuzz is reportedly in advanced talks to raise INR 200 Cr (around $ 23.5 Mn) in a fresh funding round. 

As per Moneycontrol’s report, citing people close to the matter, the fundraise will likely see participation from Bessemer Venture Partners as a key investor, along with a host of others.

Inc42 has reached out to Easebuzz for comments on the development. The story will be updated based on the response.

The funding round is also likely to include an ESOP buyback. However, the size of the buyback was not disclosed.

Founded by Rohit Prasad and Vikram Kumar in 2015,  Easebuzz leverages API solutions to facilitate businesses to digitise their payment process and manage end-to-end collection-related financial operations. The company claims to serve businesses across various sectors including education, retail, NBFCs, insurance and ecommerce among others.

In 2021, Easebuzz raised $4 Mn as part of its seed funding round led by 8i Ventures, Varanium Capital, and Guild Capital along with participation from existing backers. Back then, the company wanted to utilise the freshly raised funds in expanding its API-based solutions.

This comes at a time when India’s fintech space has been gaining a lot of traction from investors.

For instance, fintech startup Snapmint recently rasied $18 Mn in its Pre-Series B funding round led by Prashasta Seth of Prudent Investment Managers to launch new BNPL products.

Similarly, earlier this month, fintech startup Mintifi  raised a total of $180 Mn (over INR 1500 Cr) in its Series E funding round co-led by Teachers’ Venture Growth (TVG) and Prosus to expand its footprint across key sectors and strengthen its position in the supply chain financing segment.

As per Inc42’s report, India is home to 24 fintech unicorns, and 36 soonicorns. It further states that the Indian rural fintech space is expected to reach the $208 Bn mark by 2030.