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Razorpay valued At $7.5 Billion With $375 Million Funding

The company is gearing itself up to be IPO-ready, but the startup will not be getting into public markets for the next two and a half years.

Razorpay

Razorpay, India’s first-ever full-stack monetary solutions company, has achieved more than twice over its valuation from $3 billion to $7.5 billion in April. 

This Bangalore-based startup said on Sunday evening that in the Series F financing round, it has raised $375 million. The new round was co-led by Alkeon Capital, TCV, and Lone Pine Capital. This round has brought together more capital in the startup as compared to all the previous financings of the company put together. The existing investors—Sequoia Capital India, Tiger Global, Y Combinator, and GIC—also participated in this new round. 

The startup has also stepped into a few of the Southeast Asian nations in the recent past. 

Annually, Razorpay processes $60 billion during transactions. It has collected over 8 million big businesses including Swiggy, Facebook, National Pension System, Cred, and Indian Oil as well, among others, as its customers. As many as 34 out of the 42 startups who have gained the status of unicorns in India use Razorpay. 

In an interview this week, Harshil Mathur, chief exec and co-founder of Razorpay, said that their payments business keeps getting stronger. He stated that in the past one and a half years, they have been able to stand stably on the thesis of their lending and neo banking dealings. He mentioned that they want to make sure that when someone signs up with Razorpay, they do everything for the customer from the financial side. Right from getting a new bank account opened to building disbursals, salary payouts, and payments. 

Razorpay is planning on continuing to pay attention to developing its product range offerings as well as employing more than 600 people for its expansion in Southeast Asia and India. But for now, Razorpay is not going to offer a customer-focused neo banking service, as per Mathur. The company is gearing itself up to be IPO-ready, but the startup will not be getting into public markets for the next two and a half years. 

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