cxo voice
  • Home
  • News
  • Expert Opinion
  • Leaders Talk
  • Cyber Security
No Result
View All Result
  • Home
  • News
  • Expert Opinion
  • Leaders Talk
  • Cyber Security
No Result
View All Result
Interviews, IT and Technology News India | CXO VOICE
No Result
View All Result
Home News Business

Indian Fintech Razorpay Raises $160M at $3B valuation, plans to accelerate growth

Deepa Sharma by Deepa Sharma
April 19, 2021
Reading Time: 2 mins read
Razorpay Fund raise

Razorpay

Share on FacebookShare on TwitterShare on LinkedinShare via E-Mail

On Monday, payment service provider Razorpay announced it has raised $160M driven by Sequoia Capital and GIC at valuation of $3B. Razorpay became a unicorn in October last year has tripled its valuation just within the 6 months.

Razorpay said that it prepares to infuse fresh funds capital to accelerate its business banking suite, invest in new acquisitions and go international in South East Asian countries.

“We believe there’s a dire need to develop new banking technologies that meet the rising demand. So we plan to use these funds to further expand our banking and lending product suite so that we not only provide a better experience to businesses and their customers but significantly contribute to the growth of our partner businesses,” explained Harshil Mathur, CEO and Co-founder of Razorpay.

The firm Razorpay is looking for more than 600 employees to accelerate its growth plans. The fresh round was co-driven by Sequoia Capital and GIC, Singapore’s sovereign wealth fund, along with participation from Ribbit Capital and Matrix Partners.

Razorpay, with its services, is helping SMBs and large-scale enterprises advance their financial system by giving them intelligent automated payment and business banking solutions to control their money flow end-to-end.

Razorpay’s neo-banking system, RazorpayX, is strengthening more than 15,000 businesses to control their money.
In the last 1 year, the neobank witnessed 400% growth in transaction volume, and over the previous six months, Razorpay has seen a 40%-45% growth month-on-month basis.

Razorpay said it has been disbursing credit of upwards of Rs 700 crore per month, serving businesspeople get way to working capital, and now prepares to scale this up to Rs 1,000 crore per month by the end of 2021.

“In the next 12 months, Razorpay will look to introduce more such products through strategic partnerships and acquisitions which fit into our vision of making financial infrastructure easy and available to businesses across the country,” said Shashank Kumar, Co-Founder & CTO, Razorpay.

“We expect digital payments to become a $500 billion market over the next 4-5 years. The Razorpay team, with their constant focus on execution excellence, has grabbed early leadership in this space,” added Ishaan Mittal, Principal, Sequoia India.

Also Read: Flipkart to acquire travel tech firm Cleartrip

Tags: FintechFund RaisingRazorpay
Deepa Sharma

Deepa Sharma

Senior Writer and Editor at CXO VOICE, She covers technology, cybersecurity, and financial and other tech news and updates. She can be reached at "deepa@cxovoice.com"

Related Posts

Pine Labs
Business

Pine Labs acquires consumer fintech startup Fave for $45M

April 13, 2021
How innovation in Fintech is changing personal finance
Finance

How innovation in Fintech is changing personal finance

April 9, 2021
Key Fintech Trends to look out for in 2021
Finance

Key Fintech Trends to look out for in 2021

April 5, 2021
fintech startups india 2019
Featured Stories

List of 10 Best Indian Fintech Startups In 2019

December 30, 2019
Ways to Fund your Startup Idea
Entrepreneur

5 Ways to Fund your Startup Idea

September 15, 2018
Load More
Next Post
Atlassian

Atlassian announced the acquisition of ThinkTilt to augment Jira further

Discussion about this post

ADVERTISEMENT

Expert Views

Sundar Balasubramanian, The Dawn of a New (Ransomware) Age
Cyber Security

The Dawn of a New (Ransomware) Age

August 5, 2022
AI Cloud Enterprises
AI

What can AI Cloud do for Enterprises?

March 9, 2022
Data Modernisation
Technology

4 Key Trends Driving Data Modernization Across The Enterprises

January 28, 2022
IT Service Management (ITSM)
Enterprise

The need of ITSM to start a digital transformation journey and ensure high ROI

January 17, 2022
Cloud Adoption
Cloud

Cloud Adoption Needs to Be Accelerated

January 12, 2022

Get Latest Update

Subscribe to our mailing list to receives newsletter direct to your inbox!

ADVERTISEMENT

Leaders Inerviews

Enterprises, and MSMEs IoT
Leaders Talk

IoT is now seen as an essential enabler for the enterprises to be future ready : Joyjeet Bose

-
Security While Working Remotely interview with Filip Coftas
Cyber Security

Security While Working Remotely [Interview]

-
Akita Security Device Help you Protect your Security During COVID-19 [Interview with Zakir Hussain]
COVID-19

Can Akita Security Device Help you Protect your Security During COVID-19 [Interview]

-
digital transformation and customer experience Newgen software
Interview

Digital Transformation Journey helps Newgen Software Improve Customer Experience [Interview]

-

Entrepreneur

Inspiring Women Entrepreneurs in India (2022)

Technology Adoption For Entrepreneurs

Volunteering management is the need of the Hour

Significance Of Ethical Entrepreneurship In The Post COVID-19 Economy

CXO VOICE is a premier resource for the enterprises, SMBs and Startups CXOs and business leaders, It enables CXOs and business executives gain access key insights, experts views, analysis, business strategy, and leaders interviews on what’s happening in the market and its impact.

Connect with us

Easy Links

  • Cryptocurrency
  • Event
  • Blockchain
  • Press Release
  • Resources & Downloads

Write Us

contact@cxovoice.com

Newsletter

Subscribe to our mailing list to receives newsletter direct to your inbox!

  • Home
  • About
  • Contact Us
  • Advertise
  • Privacy & Policy
  • Feedback

© 2021 CXO VOICE

No Result
View All Result
  • Home
  • News
  • Expert Opinion
  • Leaders Talk
  • Cyber Security

© 2021 CXO VOICE