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The Silicon Review Asia

In Less Than 6 Months, Razorpay’s Valuation Triples To $3 Billion

In Less Than 6 Months, Razorpay’s Valuation Triples To $3 Billion

It has been an exciting few weeks for the startups in India, with great news coming from many companies, including Groww, CRED, Sharechat, and more. Now, Razorpay is on the news for its $160 million Series E funding round that has tripled its valuation to $3 billion.

Razorpay is a payments solution Indian startup that enables businesses to accept, process, and disburse payments through its product suite. Today, the company’s business banking platform RazorpayX is powering the banking requirements of over 10,000 businesses. Now, the company is evaluating its expansion in Southeast Asia.

“As Razorpay has grown, we have come across newer problems to solve to make life easier for businesses. From Payments to Business Banking to working capital, we have built products with the singular commitment we have to our customers. Today we are a Fintech partner enabling end-to-end money movement and building the central nervous system for Indian businesses. And, we are just getting started,” wrote HarshilMathur, CEO and Co-Founder of Razorpay.

The company was valued at just above $1 billion in October last year when it closed its $100 million Series D. Well, Razorpay has now raised another $160 million in Series E financing round, which has propelled the company’s valuation to a mammoth $3 billion. The funding round was co-led by GIC, Sequoia, along with Ribbit Capital and Matrix Partners. A portion of the funds raised will go towards developing RazorpayX to develop on a new tech stack to enhance convenience and security further.

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