Easebuzz Pvt Ltd, a Mumbai-based payments infrastructure start-up, has secured $4 million in seed funding led by 8i ventures, Varanium capital and Guild Capital. Former Citrus Pay founders Amrish Rau and Jitendra Gupta also participated as investors in this round.
Vertices Partners represented Easebuzz as their legal advisors for the transaction. The firm will use the funding to strengthen its product team, enhance sales and marketing efforts, the company said in a statement.
“This current financing round will help us accelerate our mission of powering digital collections and payments for every retail business in India,” Rohit Prasad, Managing Director of Easebuzz said.
“India’s $800 billion retail economy is going hyper-digital and Easebuzz is the best positioned payments player to take advantage of this massive market opportunity,” said Vikram Chachra, Founding Partner, 8i Ventures.
According to a research report by RedSeer Consulting, the payment gateway aggregator market in India is expected to grow from the current ₹9.5 trillion to about ₹22.6 trillion in transaction by FY25.