ItzCash investors make big bucks, sell 80% of the firm for Rs 800 cr

PE players Matrix Partners, Lightspeed Venture, Intel Capital exit at almost 5x their investments

Digital payments fintech firm ItzCash on Wednesday said that it has sold 80 per cent of the company's stake to US headquartered, Ebix, Inc., an international supplier of on-demand software and e-commerce services to the insurance, financial, e-governance and healthcare industries for Rs 800 crore. The remaining 20 per cent would be held by Essel Group, which is the main backer of the fintech firm.

The move has helped the early stage investors of the company, which include private equity players such as Matrix Partners, Lightspeed Venture Partners and Intel Capital exit from the investment at almost five times the amount