JOHNS CREEK, Ga., May 13, 2019 (GLOBE NEWSWIRE) -- Ebix, Inc. (EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries today announced that its Routier trucking logistics exchange has registered strong organic growth over the last few months, while attempting to redefine the way people send and receive inland goods in India.
EbixCash today announced that it is targeting a revenue run rate of $5 million a quarter by Q4 of 2019 from Routier, its B2B Trucking logistics marketplace. Routier revenues sequentially grew from $46,000 in Q4 2018 to $941,000 in Q1 2019.
EbixCash announced that its Routier Division experienced strong sales momentum in the last few months while adding 13 new large corporate clients in diverse industries:
- Petrochemicals: Reliance, Shubhalaxmi, IVL Dhubseri Petrochem Pvt. Ltd, MPK Chemicals.
- FMCG: Coca Cola, Pepsi (through Varun Beverages), Mother Dairy
- Sanitary and Tiles: NITCO, Orient Bell, CERA, Vijay Enterprises
- Agriculture: Sammunati Agri, Esthossen Agro
EbixCash also declared that Routier is in the process of finalizing multiple other contracts with various blue-chip corporate clients including a few international clothing brands, a global steel manufacturer, and a FMCG multinational company etc.
EbixCash World Money Managing Director TC Guruprasad said, “We intend to leverage the 320,000 retail franchisees to further grow the Routier business nationwide, while allowing our retail franchisees to become first or last mile logistics agents in addition to the other services they presently provide for EbixCash. This will allow us not only nationwide reach in the logistics market place but allow us to source the smallest and largest of truckers at the first and last mile, in an asset-lite model. We believe that this unique concept of complementing a cloud based B2B logistics marketplace with first or last mile logistics physical play, can establish Routier as the country’s leading B2B trucking exchange over the next few years.”
Founded by First generation entrepreneurs and Routier 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.
About Ebix, Inc. and EbixCash
With 50+ offices across 6 continents, Ebix, Inc., (EBIX) endeavors to provide On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries. In the Insurance sector, Ebix’s main focus is to develop and deploy a wide variety of insurance and reinsurance exchanges on an on-demand basis, while also, providing Software-as-a-Service ("SaaS") enterprise solutions in the area of CRM, front-end & back-end systems, outsourced administration and risk compliance services, around the world.
With a "Phygital” strategy that combines 320,000 physical distribution outlets in many Southeast Asian Nations (“ASEAN”) countries, to an Omni-channel online digital platform, the Company’s EbixCash Financial exchange portfolio encompasses leadership in areas of domestic & international money remittance, foreign exchange (Forex), travel, pre-paid & gift cards, utility payments, lending, wealth management etc. in India and other markets. EbixCash’s Forex operations have emerged as a leader in India’s airport Foreign Exchange business with operations in 32 international airports including Delhi, Mumbai, Bangalore, Hyderabad, Chennai and Kolkata, conducting over $4.8 billion in gross transaction value per year. EbixCash’s inward remittance business in India conducts approx. $5 billion gross annual remittance business, confirming its undisputed leadership position in India. EbixCash, through its travel portfolio of Via and Mercury, is also one of Southeast Asia’s leading travel exchanges with over 2,200+ employees, 212,450+ agent network, 25 branches and over 9,800 corporate clients; processing an estimated $2.5 billion in gross merchandise value per year. EbixCash’s technology services Division has emerged as a leader in the areas of lending technology, asset & wealth management technology, travel technology in India; besides having grown its international expanse to Europe, Middle East, Africa and ASEAN countries.
Through its various SaaS-based software platforms, Ebix employs thousands of domain-specific technology professionals to provide products, support and consultancy to thousands of customers on six continents. For more information, visit the Company’s website at www.ebix.com
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As used herein, the terms “Ebix,” “the Company,” “we,” “our” and “us” refer to Ebix, Inc., a Delaware corporation, and its consolidated subsidiaries as a combined entity, except where it is clear that the terms mean only Ebix, Inc.
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