Razorpay rejigs top leadership team after cofounder moves out of CTO role
- Former AWS executive Murali Brahmadesam is the next head of engineering and CTO of
- Co-founder Shashank Kumar has now been appointed as the Managing director of the company.
- IPO is definitely on the company’s pipeline, but it is still a couple of years away.
AdvertisementRazorpay has rejigged its leadership team, with the appointment of former Amazon Web Services (AWS) executive Murali Brahmadesam as the head of engineering and CTO.
Co-founder Shashank Kumar previously held the position of CTO of Razorpay, and has now been appointed as the managing director of the company.
“Engineering has been the bedrock of growth for Razorpay since its inception. With over an 800-member engineering team today, we are constantly working towards solving some of the toughest challenges that businesses face today, with innovation at its core. Murali brings in-depth knowledge of managing technology functions at scale,” said Shashank Kumar, co-founder and now managing director at Razorpay.
Razorpay — founded in 2014 by alumni of IIT Roorkee Harshil Mathur and Shashank Kumar — is a full-stack financial services company that helps eight million Indian businesses with solutions to manage payments and banking. Out of the 42 companies that were crowned as unicorns in 2021 alone, Razorpay powered payments for 34 of them.
"Razorpay has been at the forefront of inventing breakthrough products in business payment and banking that are being relied upon by millions of diverse businesses,” said Murali Brahmadesam, CTO at Razorpay.
The company was valued at $7.5 billion in December last year, making it the highest valued fintech startup in India. Though Razorpay has no plans to go public in the near future, the company says that they will revisit this in the next two to three years.
The company plans to scale its banking and lending arm before going for an IPO.
“If you want to go out and raise money in the public markets, it’s better to be a full-fledged financial ecosystem company, rather than just a payments company, which is a core part of our business today,” Harshil Mathur, co-founder and CEO of Razorpay, said.
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