Easebuzz, a company that started in the year 2014, was focused on a vision to solve problems around collection mechanisms for small and growing businesses. Easebuzz, at its very base, is a juncture of two words, “Ease” which essentially indicates the aim to ease collections and “Buzz”, which is a verb that indicates to move quickly.
Digital payment platform for growing businesses
With a leading pack of three, Easebuzz has developed a software platform that is enabled with value-added services aimed to solve problems related to digital payment collections. They have three outstanding personalities from their respective domains: Mr. Rai Rohit Prasad, the CEO and MD, Mr. Amit Kumar, the CTO and Mr. Siddharth Dani the CFO.
Mr. Rai Rohit Prasad brings a wealth of knowledge in the field of payment platforms with his experience in industries, to name a few i.e., banking and financial. Under his guidance, Easebuzz today has received Series A funding and is one of the largest payment aggregators in India supporting over 50,000+ merchants and has a team of over 140+ resources. On the other hand, Mr. Amit Kumar serves as Chief Technical Officer. He is a trusted seasoned professional and a technical leader, who helps shape product priorities, regularly upgrade solutions and provides deep industry knowledge on payment solutions, as one of Easebuzz’s thought-leading technical experts. Alongside this, Mr. Siddharth Dani has focused on building high-performance finance functions and driving investment management, fundraising, financial analysis, financial modelling and valuation, etc. He has been instrumental in the company’s growth initiatives and is also a member of the board apart from being part of various committees including Audit and Risk.
This brand stands out with its unique offerings such as its core financial and ancillary services that help its users digitize their business transactions, collections, and settlement. The business is dedicated to creating APIs that help include fintech services within existing software or ERP systems and this novel application presently caters to over 50,000 businesses and merchants worldwide. This helps them collect and disburse payments digitally to multiple vendors, customers, and accounts. Additionally, it is available both as a web and mobile application.
Some of the major problems in small and growing businesses across India today would include the following –
Subscription related businesses have to send reminders over due dates and have high credit periods.
Franchisee models in growing businesses face problems related to reconciliation.
Educational institutes find technology costly and non-affordable.
Informal markets, especially in supply chain distribution, see high revenue leakage over reconciliation and collection problems.
Easebuzz targets these exact drawbacks by building a software platform embedded with a payment infrastructure which includes Payment Gateway, Payment Link, WIRE, InstaCollect, BridgeBuzz, Web Store, EasyCollect, FeesBuzz, BuildBuzz, SmartBilling, Teller and Easebuzz Capital.
Although the fintech revolution is still in its initial stage, its indispensability for businesses has been proven time and again. With the rigid nature of the traditional financial institutions, businesses today have an upper hand in teaming up with fintech solution providers. It eventually all boils down to who they choose among the plethora of options that are available in the market as it is this very decision that can change the business for the better. Pertaining to the same, the short-term goal for Easebuzz is to improve the brand recall and build brand engagement, while in the long run, the aim is to position itself in the market not only as a payment collection / SaaS software solutions company but also as an API module designed for startups and SMEs.
Rohit Prasad, CEO (Chief Executive Officer) stated, “Our objective is to help SMEs in India achieve financial inclusion goals and scale up their business 3x times with the help of interoperable new-age payment technologies.”