Salesforce backs Indian payments startup Razorpay

Tuesday 21 September 2021 15:20 CET | News

Canada-based cloud-based software company, Salesforce, has invested in Razorpay to help it expand in the business banking space.

Six-year-old India-based fintech Razorpay, which was valued at USD 3 billion in a financing round in April this year, has courted one more high-profile investor: Salesforce Ventures.

The two firms didn't disclose the size of the investment, but the Sequoia Capital India-backed startup said the deal will make an impactful contribution to the industry and drive adoption and financial growth for small businesses.

Razorpay accepts, processes and disburses money online for small businesses and enterprises — essentially everything Stripe does in the U.S. and several other developed markets. But the Indian startup’s offering goes further: in recent years, Razorpay has launched a neobanking platform to issue corporate credit cards, and it also offers businesses working capital.

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Keywords: cloud services, fintech, funding, neobanks
Categories: Payments & Commerce | Online & Mobile Banking
Countries: India
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