THE FUTURE PARADIGM PERFECTING FINTECH DISRUPTION

An infra mindset, convergence as its strategic lynchpin, and connecting the many divergent dots that have mushroomed across the Indian fintech space, EbixCash is redefining the sector to build a future-perfect model — one that is difficult to emulate and puts miles between it and the competition

AT TIME WHEN TRAVEL and related activity such as foreign exchange transactions have been on the decline, EbixCash, which has a leading play in these sectors — and beyond — is on target to clock more than $800 million in revenues in CY 2021 at an EBITDA of nearly $100 million. What makes this further noteworthy is the consistent profitability of the company in India while growing at a CAGR of 66 percent over the past three years.

In addition to approximately 11,000 employees, EbixCash has a larger physical network than any of the banks, through 300,000 ‘phygital’ franchisee locations including 50,000 bank branches serving as remittance outlets. Through these phygital locations, it provides a plethora of digital locations that position it way ahead of the competition.

According to Robin Raina, Chairman and CEO of the US-based parent company Ebix Inc, and Founder of EbixCash in India, EbixCash’s focused approach to converge distribution with a backend play and empowering both sides creates the market while simultaneously providing the required technology ondemand.

The result is that EbixCash is a leader in nearly every segment it has entered, barring the limited exception of domestic B2C (business to consumer) travel. Even in travel, the company was clocking $120 million in revenues and 22 percent operating margins in pre-Covid times. To put this in perspective, the other two players, Makemytrip and Yatra, continue posting record losses.

An Infra Mindset