India's EbixCash’s Payments Solution Division Receives Two Awards from the World’s Second Largest Consumer Remittance Company - Ria

EbixCash Limited, a technology enabled provider of digital products and services in the B2C, B2B and financial technology arena, today announced that its Payments Solution Division has been honored with two awards for leading the growth of Euronet Worldwide, Inc.’s Ria Money Transfer business in India.

Ria is the second largest consumer remittance company in the world today. EbixCash - a subsidiary of Ebix, Inc. (NASDAQ: EBIX) is a leader in the international remittance business in India, based on gross transactional value.

Dr. Emil Ruban, Ria Financial’s Managing Director & Country Manager – India, presented the awards to EbixCash Chairman Robin Raina at the EbixCash headquarters in Noida, India. The awards acknowledged: 

• "Outstanding Growth in 2021" reflecting growth in EbixCash's remittance business to approximately 75% of Ria's money transfer business in India in 2021. 
• The appointment and licensing of “100,000 Agent Locations in India” to handle Ria’s money transfer services. As a part of its contract with Ria a few years back, EbixCash had committed to take the reach of Ria into 40,000 of its franchises across India and thus this award was for beating that target number by more than 100%.

About Euronet, Money Transfer Segment

Euronet Worldwide, Inc. (NASDAQ: EEFT) Money Transfer Segment comprises three core products: Ria, Xe and Dandelion. Ria is the second largest consumer remittance company in the world, offering real-time international money transfers with a special focus on emerging markets. Xe is the trusted currency authority, with hundreds of millions of web and app users around the world, offering currency information and industry leading consumer and business money transfers services. Powering Xe and Ria is Dandelion, the largest real-time cross-border payments network in the world; it offers consumer and business transaction processing and fulfillment to 170 countries and territories with alternative payout channels like bank accounts, cash pick-up, and mobile wallets.

Beyond Euronet’s own services, Dandelion also powers cross-border payments for third party banks, fintechs, and big tech platforms. For more information, please visit the company's website at https://www.euronetworldwide.com/segments/moneytransfers

About EbixCash

With a "Phygital” strategy that combines over 650,000 physical agent distribution outlets throughout India and Southeast Asia as of December 31, 2021, to an Omni-channel online digital platform, the Company’s Financial exchange portfolio of software and services encompasses domestic and international money remittance, foreign exchange (Forex), pre-paid gift cards, utility payments, travel services and technologies for insurance, bus information systems, lending and wealth management across 75+ countries including India.

EbixCash has Forex operations in approximately 16 international airports, including Delhi, Mumbai, Mumbai, Hyderabad, Chennai and Kolkata. 

EbixCash is a leader in the international remittance business based on gross transactional value. EbixCash, through its travel portfolio (Via.com and EbixCash.com), is one of the leading travel exchanges based in India and catering to Southeast Asian markets, with over 517,000 agents and approximately 17,900 registered corporate clients. 

EbixCash's financial technologies business offers software solutions to various clients in the areas of wealth, asset and lending management, insurance and bus information systems. EbixCash's business process outsourcing services provide information technology and call center services to a variety of industries. For more information, visit the Company’s website at www.ebixcash.com

PMS Bazaar, EbixCash Fintech partner for India's 1st All-in-One PMS & AIF Investment Portal

PMS Bazaar & EbixCash Financial Technologies have partnered for a strategic collaboration, to introduce all-in-one PMS & AIF tracking portal for investors. Now investors can seamlessly analyse their entire gamut of investments in a click. The comprehensive platform offers a very safe, easy accessible various PMS & AIF investment reports in one go.

PMS Bazaar partnership with ECFT's is historic as it will leverage the comprehensive offering to cover its entire wealth management functions across its various business units, replacing multiple legacy systems and improving efficiency.

The newly introduced portal lets investors look into their PMS & AIF dashboards comprising different investments with comparison charts, analytics metrics and other information combined with expert investment advice.

"We cannot expect the field force of today, to work effectively with our Clients & Partners while dealing with a ton of paperwork. We need to unburden and empower them with the latest tools. MoneyWare was an easy choice for us because their suite allows PMS Bazaar to bring forth the technology advancements, we need to keep us competitive and enable business growth," said Hameed Rahman, Director - PMS Bazaar

Milan Ganatra, Managing Director ECFT adds, "MoneyWare Wealth Management is a proven solution with high scalability and flexibility. We are sure with this deployment the PMS Bazaar is well poised to leverage its existing investments in technology & it will also help them to enhance the ease of doing business with their Clients & Partners. ECFT will also be partnering with PMS Bazaar in its foray into utilising emerging Client Portal to the fullest.

In February, one of Ebix Inc's subsidiaries in India acquired 80% controlling stake in Delhi-based Zillious Solutions Private Limited for an undisclosed amount. Last October, EbixCash subsidiaries has acquired a 67% stake in Routier, a Delhi-based B2B Marketplace for Trucking Logistics.

PMS Bazaar, India's first online portal for investors looking for PMS & AIF comparisons, investments, information, analytics and investment advice. PMS Bazaar covers nearly the entire range of PMS & AIF avenues available in India. PMS Bazaar currently serves 8000+ Registered Investors, with 100+ strategies and supports investors across 10+Countries.

US-based Ebix Acquires IIM Alumnus Founded B2B Logistics Tech Startup Routier

US-based software firm, Ebix, Inc., an international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries, today announced that one of its India-based EbixCash subsidiaries has acquired a 67% stake in Routier, a Delhi-based B2B Marketplace for Trucking Logistics. Routier is a cloud-based, data driven and tech-enabled logistic solutions provider to change the way people move and receive inland goods in India.

Founded by first generation entrepreneurs and operating team senior Executives Ankur Dahiya and Adwait Vikram Singh from the Indian Institute of Management (IIM) and Harvard Law School, respectively, Routier seeks to revolutionize trucking logistics in the same way taxi logistics have been transformed by Uber, Ola and others. Routier aims to drive efficiency for all marketplace stakeholders, using an innovative blend of data analytics, artificial intelligence and end-to-end streamlined functionality available over the cloud.

With clients like Coca Cola, Asian Paints, and Samsung. Routier’s marketplace is already proving its ability to add efficiency to freight movement. The EbixCash investment was driven by Routier’s desire for a strategic investor who could provide added technology expertise, financial strength and brand recognition to accelerate its penetration of major trucking logistics. Routier is the first start-up where Ebix has made a strategic investment.

With a market opportunity expected to reach $300 billion by 2020, Routier looks to drive productivity and transparency through a transportation sector long considered one of the most inefficient. Routier’s online cloud based logistics marketplace connects companies that require their goods to be delivered (Shippers), typically with small trucking companies who account for 75% of the freight transportation business (Carriers); allowing the Carriers the ability to win a Shipper’s business by bidding from any smartphone, hand-held device or computer. From bidding through final delivery, the Routier platform delivers a seamless efficient, end-to-end online B2B logistics marketplace, that:

• 
  
  
  
  • Connects Shippers and Carriers across the nation on a single platform.
  
  
  • Empowers even a single truck owner to work with India’s largest shippers
  
  
  • Assures Carriers of a continued supply of business through Routier’s contracts with large Shippers seeking delivery of goods across the country from each of their factories every day.
  
  
  • Assures Shippers of Carrier background checks, insurance, GPS tracking and real-time reporting from pickup through delivery
  
  
  
  

All stakeholders win when a supply chain is efficient, so Routier Marketplace is built from the ground up to help Shippers reduce costs, save time, and make informed decisions that increase profitability. At the same time, Carriers benefit from instantaneous nationwide access to recurring business through a blend of technology, transparency, ease of use and other features that directly benefit their bottom line.

Ebix Chairman, President and CEO Robin Raina said “Exchanges and marketplaces are meant to provide a network effect that drives efficiency for all concerned and are best targeted at industries that are highly inefficient and lack technology savvy. India’s trucking industry is a perfect example of such an opportunity to deliver tremendous value and efficiency, and thus we are quite excited to be partnering with Routier in its mission to redefine the trucking logistics industry.

Robin added, “Routier recently secured multi-million dollar commitments from a few large multinational corporations, and thus needed the backing of Ebix in terms of technology expertise, manpower and working capital to implement and scale these and other opportunities. We are excited to invest in this pioneering effort at an opportune time, and look forward to building what could be a large marketplace for the trucking industry."

Routier Founder Ankur Dahiya said, 'Technology can serve as key disruptive force in the logistics sector. Routier aims to use Data Science as a key enabler to organize the fragmented market. By match-making supply and demand, even if we can use 30% of unutilized capacity, we can cause a major positive impact in the Industry in terms of productivity and profitability both.

Routier Co-Founder Adwait Vikram Singh said, “Routier has the potential to rationalize the Logistics sector not only in India but also for the global markets. Currently, Routier operates only in inland logistics but eventually aims to become a key player in streamlining cross border freight movement on a single enterprise marketplace platform. Routier has the vision to become an End-to-End supply chain network, that can handle freight movement to last mile delivery, for transportation across country borders.'