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 and operated by First generation entrepreneurs and Routier 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.
