Razorpay is the latest to join the unicorn club with its new $100 million fundraise

  • Razorpay’s unicorn entry comes with its latest $100 million funding round led by Singapore’s GIC and its existing investor Sequoia India.
  • Founded in 2014 by IIT Roorkee graduates Harshil Mathur and Shashank Kumar, Razorpay has gained prominence in the Indian payments ecosystem.
  • Razorpay was also one of the 20 Indian startups in the CBInsights list of 250 world’s most promising fintech companies.
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Indian digital payments platform Razorpay is the sixth Indian startup in 2020 to join the unicorn club (companies with a valuation of over a billion dollars). Razorpay’s unicorn entry comes with its latest $100 million funding round led by Singapore’s GIC and its existing investor Sequoia India.

Its other existing investors Ribbit Capital, Matrix Partners, Tiger Global, and Y Combinator too participated in the funding round.

Founded in 2014 by IIT Roorkee graduates Harshil Mathur and Shashank Kumar, Razorpay has made a name for itself in the Indian payments ecosystem. The startup has clients like Indigo, BSE, Thomas Cook, Reliance, SpiceJet, Aditya Birla, Sony and Oyo, among others.

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The startup has also been ramping up its offerings with recent launches like the neo-banking platform, RazorpayX, Cash Advance – credit line for small businesses in India, and the acquisition of Opfin, a payroll management software company.


Razorpay was also one of the 20 Indian startups in the CBInsights list of 250 world’s most promising fintech companies. “We were a group of less than 10 people when we started Razorpay in a small room with a sole purpose to make online payments easier particularly for the underserved segments, SMEs. Fast forward to five years later, we are a 900 strong team today with a 500% growth, making this a tremendous journey for our partner businesses, their consumers and ourselves,” CEO Harshil Mathur had said about the inclusion in the CB Insights list.


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The mobile payments solutions startup Razorpay claims to have a 35% monthly growth rate. Razorpay plans to increase the count of its partner businesses to 15,00,000 by the end of this year, and expects a 4x growth in its revenue.


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