Monday, February 26, 2024
HomeStartupsRazorpay Enters Unicorn Membership With $100 Mn Funding

Razorpay Enters Unicorn Membership With $100 Mn Funding


Razorpay is the newest entrant within the unicorn membership, having raised $100 Mn in a spherical led by Singapore’s sovereign wealth fund GIC

The funding places Razorpay’s valuation just a little over $1 Bn

Razorpay’s present traders Ribbit Capital, Tiger World, Y Combinator and Matrix Companions additionally participated within the spherical

Bengaluru-based funds gateway Razorpay is the newest entrant in India’s unicorn membership (startups with a valuation of greater than $1 Bn). With the newest spherical of funding value $100 Mn led by Singapore’s sovereign wealth fund GIC and present investor Sequoia India, Razorpay’s valuation now stands just a little greater than $1 Bn up from $106.7 Mn in 2019 when it had final raised funds value $75 Mn in a Collection C spherical. 

The current Collection D funding spherical additionally noticed participation from present traders Ribbit Capital, Tiger World, Y Combinator and Matrix Companions. It has raised $206.5 Mn since its inception in 2014.

“GIC is a good long-term investor to have. Their knowledge about public markets and investment in firms like Bajaj Finserv Ltd and Bandhan Bank Ltd will help us in our journey to go public. With this fundraise, we will focus on going deeper into the Indian market and broaden our product portfolio to grow our business and achieve profitability,” mentioned Harshil Mathur, chief government and cofounder of Razorpay.

Razorpay is the fifth Indian fintech agency to attain ‘unicorn’ standing after on-line fee gateway BillDesk, Flipkart-owned PhonePe and insurtech startup PolicyBazaar, which have been all valued at over $1 billion in 2018.

Paytm entered the unicorn membership again in 2014 and is essentially the most helpful startup within the nation at $16 Bn.  

“Razorpay has established itself as a clear leader, with its strong focus on customer experience and product innovation,” mentioned Choo Yong Cheen, Chief Funding Officer for Non-public Fairness at GIC, in a press release. “GIC has a long track record of partnering with leading fintech companies globally and is delighted to partner with Razorpay in its journey to transform payments and banking,” Cheen added. 

Based by Shashank Kumar and Harshil Mathur in 2014, as a fee gateway service, Razorpay at the moment powers digital funds for over 200Okay small and enormous companies, together with Airtel, BookMyShow, IRCTC, Aditya Birla Capital, NSE, amongst others.

Razorpay, plans to make use of the funds to launch merchandise for its neo-banking enterprise Razorpay X and lending enterprise Razorpay Capital, in search of to double their development within the coming 12 months. It additionally plans to rent 500 individuals throughout capabilities of development, product and expertise.

“It is too early to speak on which startups we are looking to acquire since these are still in the discussion phase. But we continue to look at inorganic avenues of growth through opportunistic acquisitions,” mentioned Mathur.

The six-year-old startup supplies funds and different monetary infrastructure to assist companies handle cash move. Its core enterprise continues to be its on-line fee gateway, which accounts for 80% of its income, because it serves 5 million prospects, together with Airtel, BookMyShow, Fb India and Sony.

The firm had raised $18.37 Mn from its US mother or father Razorpay Inc in 2019. Final 12 months it had additionally raised $106.7 Mn from Sequoia, Tiger World, Y Combinator amongst different marquee traders. In August 2019, Razorpay acquired a Delhi NCR-based synthetic intelligence (AI) firm Thirdwatch for an undisclosed quantity.  

India has greater than 35 startup unicorns, with a number of present ones elevating funds this 12 months. Edtech startup Unacademy, developer collaboration platform Postman and cosmetics and vogue market Nykaa turned unicorns this 12 months.




  1. I’m really inspired together with your writing skills as smartly as
    with the layout on your weblog. Is this a paid subject matter or did you customize it your self?
    Either way stay up the nice high quality writing, it’s rare to peer a great weblog like
    this one these days..

  2. Every weekend i used to pay a quick visit this website, because i
    wish for enjoyment, since this this web page conations actually
    nice funny material too.

  3. Every weekend i used to pay a visit this web site,
    because i want enjoyment, for the reason that this this website conations in fact good funny information too.


Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Recent Comments

chiffon dress design in pakistan on Realme 6 Pro Review | NDTV Gadgets 360
You searched for on Realme X50 Pro 5G Review
Telefoane Mobile Ieftine si Accesorii on Oppo Enco Free True Wireless Earphones Review