Razorpay, an Indian fintech giant, has received $375 million in investment, valuing it at $7.5 billion
The Bangalore-based fintech giant, Razorpay, India’s industry leader in payments processing, has recently announced the completion of a $375 million Series F fundraising round. The latest financing round was co-headed by TCV, Lone Pine Capital, and Alkeon Capital. Razorpay’s market capitalization has more than doubled to $7.5 billion from $3 billion in April, as one of India’s top fintech behemoths shows fast expansion and actively expands its product portfolio. Razorpay is a company that accepts, analyzes, and disburses funds to small businesses and enterprises. It also runs a neobanking platform where companies can get credit cards and working capital. It also has a global payment system that accepts over 90 multiple currencies. “We aim to make sure that when you set up a business and sign up with Razorpay, we take care of everything from opening a bank account to set up transactions and disbursals, as well as salary payments. You don’t have to go out and get a bunch of different devices,” said Harshil Mathur, Co-Founder and Chief Executive of Razorpay. To accelerate its expansion in India and Southeast Asia, the business expects to continue focusing on growing its product offerings and employ over 600 professionals.