Indian payment processor Razorpay raises USD 100 million in series D funding

Monday 12 October 2020 13:27 CET | News

India-headquartered payments processing startup Razorpay has raised USD 100 million in a new series D financing round.

The new financing round, a Series D, was co-led by Singapore’s sovereign wealth fund GIC and Sequoia India, the six-year-old Indian startup said. Existing investors Ribbit Capital, Tiger Global, Y Combinator, and Matrix Partners also participated in the round, which brings Razorpay’s total to-date raise to USD 206.5 million.

Razorpay accepts, processes, and disburses money online for small businesses and enterprises. In recent years, the startup has expanded its offerings to provide loans to businesses and also launched a neo-banking platform to issue corporate credit cards, among other products.

Some of Razorpay’s clients include budget lodging decacorn Oyo, fintech firm Cred, Facebook, ecommerce Flipkart food delivery startups Zomato  and Swiggy, online learning platform Byju’s, supply chain platform Zilingo, travel ticketing firms Yatra and Goibibo, and Airtel.

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Keywords: Razorpay, Cred, Facebook, Flipkart, Zomato, Swiggt, funding, funding round, series D funding, India, Asia, APAC, payment processing, online payments, airtel, Unicorn, startup, fintech
Categories: Payments & Commerce
Countries: India
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Payments & Commerce