View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
April 19, 2021

Razorpay secures $160m investment; valuation soars to $3bn

Indian fintech firm Razorpay has raked in $160m in a funding round co-led by Sequoia India and Singapore-based Singapore’s sovereign wealth fund GIC.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

Current backers Ribbit Capital and Matrix Partners also joined the fundraising, which takes Razorpay’s valuation to $3bn.

With the fresh infusion, the company’s total capital raised to date reaches $366.5m.

Razorpay intends to use the new capital to scale up its business banking offering and fund new acquisitions.

It also plans to utilise the money to support its international expansion plan, including in South-East Asia.

A portion of the money will also be allocated to the firm’s business banking platform RazorpayX to build tailored products on a new tech stack.

Razorpay CEO and co-founder Harshil Mathur said: “We at Razorpay want to be the one-stop financial platform that a business needs to simplify and manage their end-to-end money movement.

“We have made some strides towards that journey, our recent initiatives in the Banking and Lending space through RazorpayX and Capital have helped businesses solve some very unique challenges around managing money, empowering businesses to grow up to 10X in an economically challenging year.”

“There’s more work to be done. We believe there’s a dire need to develop new banking technologies that meet the rising demand.”

Razorpay was established set up by IIT Roorkee alums Harshil Mathur and Shashank Kumar in 2014. It offers payments and other financial infrastructure to support businesses in cash flow management.

Its client list includes Facebook, BookMyShow, Airtel, Ola, Swiggy and Cred.

The company has been disbursing credit above $93.5m (INR7bn) on a monthly basis, enabling entrepreneurs gain access to working capital. Plans are on to raise this amount to 133.6m (INR10bn) by the end of this year.

Razorpay reached the unicorn status in October last year following a $100m funding in a Series D round.

In February this year, the firm announced plans to hire another 650 employees across technology, product and business teams over the next ten months.

Of the new roles, 350 will be for the engineering and product teams while the remainder will constitute the customer experience, sales and marketing teams.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Retail Banker International