Ezetap aims at Five-fold growth by 2024

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Ezetap aims at Five-fold growth by 2024
07 Mar 2022
6 min read

News Synopsis

Financial technology provider Ezetap is aiming at five-fold growth in revenue to Rs 750 crore by 2024 driven by international expansion and an increase in merchant base. 

Byas Nambisan, CEO and co-founder of Ezetap, said to PTI that the company will raise about Rs 450 crore in the coming months, including about Rs 260 crore from the primary market in the coming months to fund the growth plan.

The company provides financial technologies, including point-of-sale solutions, billing, loyalty solutions, to companies such as Amazon, Flipkart, Airtel, and merchants affiliated with banks such as HDFC, Axis, SBI, ICICI etc.

Ezetap operates in India, the UAE and is planning to expand its business to Africa and the Middle East. Nambisan has said that the company is looking to expand 10-15 countries in the Middle East and Africa by 2024.

It aims to expand into at least two-three countries in the Middle East by the end of 2022. It is also looking forward to investing in developing solutions for credit, EMI, and different forms of buy-now-pay-later solutions. 

Nambisan has also said that the company is looking to raise about $50-60 million, including $35 million from the primary market. He also claimed that the company is in the market to raise the funds right away, within a few next months.

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