Ebix, Inc. (NASDAQ: 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., (NASDAQ: 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
SAFE HARBOR REGARDING FORWARD-LOOKING
STATEMENTS
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.
The information contained in this Press Release
contains forward-looking statements and information within the
"safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995, Section 27A of the Securities Act of 1933, and
Section 21E of the Securities Exchange Act of 1934. This
information includes assumptions made by, and information currently
available to management, including statements regarding future
economic performance and financial condition, liquidity and capital
resources, acceptance of the Company's products by the market, and
management's plans and objectives. In addition, certain statements
included in this and our future filings with the Securities and
Exchange Commission ("SEC"), in press releases, and in oral and
written statements made by us or with our approval, which are not
statements of historical fact, are forward-looking statements.
Words such as "may," "could," "should," "would," "believe,"
"expect," "anticipate," "estimate," "intend," "seeks," "plan,"
"project," "continue," "predict," "will," "should," and other words
or expressions of similar meaning are intended by the Company to
identify forward-looking statements, although not all
forward-looking statements contain these identifying words. These
forward-looking statements are found at various places throughout
this report and in the documents incorporated herein by reference.
These statements are based on our current expectations about future
events or results and information that is currently available to
us, involve assumptions, risks, and uncertainties, and speak only
as of the date on which such statements are made.
Our actual results may differ materially from
those expressed or implied in these forward-looking statements.
Factors that may cause such a difference, include, but are not
limited to those discussed in our Annual Report on Form 10-K and
subsequent reports filed with the SEC, as well as: the risk of an
unfavorable outcome of the pending governmental investigations or
shareholder class action lawsuits, reputational harm caused by such
investigations and lawsuits, the willingness of independent
insurance agencies to outsource their computer and other processing
needs to third parties; pricing and other competitive pressures and
the Company's ability to gain or maintain share of sales as a
result of actions by competitors and others; changes in estimates
in critical accounting judgments; changes in or failure to comply
with laws and regulations, including accounting standards, taxation
requirements (including tax rate changes, new tax laws and revised
tax interpretations) in domestic or foreign jurisdictions; exchange
rate fluctuations and other risks associated with investments and
operations in foreign countries (particularly in Australia, UK and
India wherein we have significant operations); equity markets,
including market disruptions and significant interest rate
fluctuations, which may impede our access to, or increase the cost
of, external financing; and international conflict, including
terrorist acts.
Except as expressly required by the federal
securities laws, the Company undertakes no obligation to update any
such factors, or to publicly announce the results of, or changes to
any of the forward-looking statements contained herein to reflect
future events, developments, changed circumstances, or for any
other reason.
Readers should carefully review the disclosures
and the risk factors described in the documents we file from time
to time with the SEC, including future reports on Forms 10-Q and
8-K, and any amendments thereto. You may obtain our SEC filings at
our website, www.ebix.com under the "Investor Information" section,
or over the Internet at the SEC's web site, www.sec.gov.
CONTACT:
Darren Joseph or Gautam Sharma
678 -281-2027 or IR@ebix.com
David Collins or Chris Eddy
Catalyst Global - 212-924-9800 or ebix@catalyst-ir.com
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