The founding round also saw participation from Matrix Partners. The funds will be used in the next phase of growth by expanding to newer markets like South East Asia. The company had previously raised USD 11.5 million in series A round from the same investors along with 33 angel investors, and a strategic investment by Mastercard in 2016.
Founded in December 2014, Razorpay began operations by offering online businesses in India the technology to accept all payment modes. Its merchant partners include GoIbibo, Yatra, Zomato, Zoho, DSP Blackrock, Zerodha, among others.
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