India, 24th January 2021: Ezetap, a digital payments leader, has announced that Byas Nambisan, CEO, since 2019, has now been nominated as a Co-Founder by the Board. This is in recognition of his leadership in bringing the company to the forefront of India’s dynamic fintech landscape. The Board has also recognized Arjun Ramesh, Vice President International Sales, UAE, and Tamal Das, Vice President Customer Solutions & Software Engineering QA, as members of the Founding Team. In the past six months, the company also promoted Vineet Suneja to Chief Revenue Officer to spearhead business development and alliances with the leading merchant acquiring banks, fintech partners, and retail channels.
Ezetap has shown strong growth over the past few years and has expanded its partnership to now cover 7 leading banks in India and has most of the marquee enterprises as its clients. The company grew over 90% YoY as of December 2021. It processes $8 Billion in annualized GTV through 4 lakh retail points and is aiming to reach Rs 7,500Cr in annual revenue by 2024.
Ezetap is now adding 75,000 merchants per quarter in India and in the Middle East, in partnership with leading banks. The company’s Android-based software solution suite provides a seamless experience to merchants through its safe and flexible payment solutions. Ezetap has been a leading innovator in the Fintech space – having been the only domestic player to deploy a POS design entirely developed in India. It was also the leader in the transition to Android-based POS devices. Over the course of the coming year, the company is expecting to reveal some more innovative breakthroughs in partnership with its bank partners and NPCI.
Commenting on the growth of the company, Byas Nambisan, CEO & Co-Founder, Ezetap, said, “It’s an exciting time at Ezetap. We have a two-pronged focus – innovation and expansion. We have strengthened our bank partnerships in India and the UAE and are working on expanding beyond these geographies. We plan to support this growth by doubling our workforce by 2022. We are also looking to raise $50-60M in funding, towards the same goal, and have recently appointed Unitus Capital as our Investment Banker.”
At Ezetap, veterans from payments, hardware, cloud, and SaaS industries have joined hands for the sole purpose of ushering in a new era of a frictionless digital payment ecosystem in India. Ezetap’s customer base includes brick-and-mortar retailers, e-commerce players, leading enterprises, financial inclusion organizations and more. Ezetap processes over US$8 billion annually and has been ranked thrice in-a-row by CNBC in their Global Top 50 Disruptor List. Ezetap is backed by investors which include Social Capital, the Silicon Valley firm led by former Facebook executive Chamath Palihapitiya, Helion Advisors, American Express, Li Ka-Shing’s Horizons Ventures, JS Capital (Jonathan Soros), and Prime Venture Partners.