Razorpay bags $100 mn in Series D funding round led by GIC and Sequoia
Razorpay has bagged an amount of $100 million in a Series D funding round led by Singapore-based GIC and existing backer Sequoia Capital at a valuation of over $1 billion.
Other existing investors like Ribbit Capital, Tiger Global Management, Y Combinator and Matrix Partners India also participated in the round.
“The funding comes with a major milestone of Razorpay becoming the newest unicorn in India. GIC is also a great partner at this stage of the company because they are a significant public market investor,” said Shashank Kumar, co-founder of Razorpay on the company’s blog.
Prior to this, the company had raised $75 million led by Ribbit Capital in June last year at a valuation of nearly $450 million.
Brainchild of Harshil Mathur and Shashank Kumar, six-year-old Razorpay offers payments and other financial infrastructure to help businesses manage money flow. Bulk of the Bengaluru-based company’s revenue comes from online payment gateway and it counts Facebook, Google, Jio, Zerodha, OkCredit and Hotstar, among others, as its major clients.
See What’s Next in Tech With the Fast Forward Newsletter
Tweets From @varindiamag
Nothing to see here - yet
When they Tweet, their Tweets will show up here.
