Press Release

US Based Ebix Invests $123 Mn In ItzCash, Acquires 80% Stake; Matrix, Lightspeed, Intel Exit

US Based Ebix Invests $123 Mn In ItzCash, Acquires 80% Stake; Matrix, Lightspeed, Intel Exit US-headquartered Ebix Inc., has invested $123 Mn (INR 800 Cr) in Mumbai-based payments solution firm ItzCash against 80% stake in the company. The funding has been done at a valuation of $150 Mn and Ebix will now be the majority shareholder in the company. … Continued

ItzCash raises Rs 800 crore, gives exits to Matrix, Intel Capital, Lightspeed.

ItzCash raises Rs 800 crore, gives exits to Matrix, Intel Capital, Lightspeed. Mumbai-based fintech company ItzCash has raised Rs 800 crore from US-based Ebix Inc, a global insurance SaaS company. Ebix has acquired 80 per cent stake in the company, thus valuing Itzcash at $150 million and giving exits to early investors Matrix, Intel Capital … Continued

ItzCash Turns a Page with Profits, Revenue Jumps 40% to Rs 250 crore

ItzCash Turns a Page with Profits, Revenue Jumps 40% to Rs 250 crore Payments company ItzCash turned profitable in 2016-17, according to managing director Naveen Surya. The Mumbai-based company made close to Rs 250 crore in revenue across all its businesses, a nearly 40% jump over the revenue of about. Rs 180 crore in the … Continued

ItzCash partners with Prabhu Money Transfer India for remittance to Nepal

ItzCash partners with Prabhu Money Transfer India for remittance to Nepal Domestic remittance and digital payments company ItzCash has ventured into cross-border remittances through its partnership with Prabhu Money Transfer India, a remittance company in Nepal to enable Nepali diaspora settled in India to remit money back home through ItzCash’s 75,000 agent network spread across … Continued

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ItzCash associates with Kings XI Punjab as its Official Principal Sponsor and Payments Partner

ItzCash associates with Kings XI Punjab as its Official Principal Sponsor and Payments Partner ItzCash, India’s largest digital payment firm and a pioneer in prepaid card industry, today, announced its association with Kings XI Punjab team as its official Principal Sponsor and Payments Partner. At the press event organised by Kings XI Punjab, Team mentor … Continued

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ItzCash to deploy more point of sales terminals for larger digital acceptance network

ItzCash to deploy more point of sales terminals for larger digital acceptance network Digital payments company ItzCash is planning to scale up its Point of Sales terminals in order to enable its merchants to accept digital payments through cards. Having already deployed 30,000 terminals post demonetisation, the company plans to scale it up to 1 … Continued

Interview – Connecting the unconnected – Naveen Surya, MD of ItzCash

Interview – Connecting the unconnected – Naveen Surya, MD of ItzCash   Since its inception, ItzCash has been building a bridge for the 90 per cent cash-driven India. Naveen Surya, MD of ItzCash shares his journey. How did the journey of ItzCash start? We are a 10-year-old company which focuses on digitising physical money transaction in … Continued

ItzCash that Finly will get for keeping corporate books

ItzCash that Finly will get for keeping corporate books Digital payment company ItzCash has made an equity investment in Bengaluru- based fintech startup Finly.io, which has developed an expense management tool for corporates. Itzcash MD Naveen Surya said this is the first among the several investments and partnerships the company is looking to make in … Continued

Pre-paid cards innovate fast after demonetisation

Pre-paid cards innovate fast after demonetisation The push towards a cashless society is seeing new developments in pre-paid cards. And these cards are being used for a much wider range of services. Now, you can eat at a restaurant, pay toll charges, fill fuel in your car, buy medicines at pharmacies, book air tickets, do … Continued

Transforming the digital payments landscape

Our country is on a journey to becoming a digital superpower and, over a period of time, we all have realized that this vision of Digital India cannot be complete without digitizing cash-use in our country. A less-cash environment is completely dependent on a robust digital payments ecosystem, which is still at a nascent stage; … Continued