Razorpay enters Unicorn club with $3 bn valuation

Fintech Startup Razorpay has raised $160 million in its series E funding. The round was led by existing investors GIC, Singapore’s sovereign wealth fund, and Sequoia India, along with participation from Ribbit Capital and Matrix Partners.

 The company said it plans to infuse the freshly raised capital to scale up its Business Banking suite, invest in new acquisitions, and launch in international markets such as South-East Asian countries. The fintech unicorn is already hiring more than 600 employees to fuel its growth plans.   


Commenting on the funding, Harshil Mathur, CEO, and Co-founder of Razorpay, 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." 

 

The latest round of funding puts the company’s valuation at $3 billion. 

 



 

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