Easebuzz reports 2.3X revenue growth in FY25; PAT jumps to Rs 19 Cr

While most payment aggregation and gateway businesses were likely to post flat growth in the last fiscal year, Razorpay managed 65% year-on-year growth in the fiscal year ending March 2025. Similarly, payments infrastructure startup Easebuzz more than doubled its operating scale in FY25, along with strong growth in its profit after tax (PAT).

Easebuzz’s revenue from operations surged nearly 2.3X to Rs 656 crore in FY25 from Rs 289 crore in FY24, according to its financial statements filed with the Registrar of Companies (RoC).

Easebuzz, a B2B payment gateway for SMEs, provides plug-and-play APIs for payments, disbursements, and financial operations. In FY25, it earned Rs 655.67 crore primarily from transaction fees, with information technology and support fees contributing Rs 36.4 lakh.

Apart from operations, Easebuzz earned Rs 2.9 crore in non-operating income from interest on fixed deposits and other miscellaneous sources, bringing its total income to Rs 659 crore in the last fiscal year.

For the digital payment firm, payment processing charges were the largest cost center, accounting for 86% of total expenses at Rs 545.5 crore in FY25, which grew 2.4X from Rs 225.6 crore in FY24.

The firm’s employee benefit expenses rose 34% to Rs 51.94 crore, while IT expenses were Rs 20.6 crore. Other overheads, including rent, professional fees, and marketing, brought total expenses to Rs 634.3 crore in FY25, which rose 119% from the previous fiscal year’s 289.4 crore.

With increased transaction volumes, the company’s revenue and expenses both doubled in FY25. However, revenue growth outpaced costs, resulting in a profit of Rs 18.77 crore, compared to Rs 37.7 lakh in FY24. Its ROCE and EBITDA margin also improved to 18% and 4.27%, respectively.

At the unit level, the company spent Re 0.97 to earn a rupee in FY25. As of March 2025, its total current assets stood at Rs 196.7 crore, including Rs 142.2 crore in cash and bank balances.

The Pune-based firm recently raised Rs 240 crore (approximately $28.2 million) in its Series A round including Rs 200 crore ($23.5 million) in primary capital and Rs 40 crore ($4.7 million) in secondary capital. As per TheKredible, 8i Ventures is the largest external shareholder with 10.88% stake followed by Varanium Capital and Bessemer Venture Partners with 8.48% and 8.47%, respectively.

Earlier this year, Easebuzz received final authorization from RBI to operate as an online payment aggregator and is in the process of applying for a cross-border payment aggregator license to serve international markets.

According to  Easebuzz’s managing Director Rohit Prasad, the company is planning an IPO within the next 2–3 years.

While delivering on its financial projections for FY25, Easebuzz faces a much more challenging time ahead. The firm, which made the most of a regulatory ban on larger payment giants to onboard new customers earlier, went on to carve out a niche in the education space for fees collection to build a strong base. Now, it faces the challenge of identifying the next big segment, besides a push into offline payments as well. The ban on real money gaming will not help by taking out a significant prospect from the picture. The firm has shown enough smarts and nimbleness to get here, so will make for a great study for the next steps it takes to drive growth as well.