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Razorpay raises USD 375 mln in fresh funding

Monday 20 December 2021 11:28 CET | News

India-based fintech Razorpay has secured USD 375 million in funding from Lone Pine Capital and other, reaching USD 7.5 billion valuation.

The latest infusion will be used to further scale up Razorpay's Business Banking Suite, RazorpayX and offer new banking solutions in 2022 that will help businesses focus less on handling compliance and operations. The company also plans to invest in acquisitions in 2022 and expand its presence across Southeast Asian countries. It plans to hire over 600 employees to fuel its growth plans in India and overseas.

Talking about the international expansion, company officials said geographies like Southeast Asian (SEA) countries face similar payment problems like India, and Razorpay will look to leverage its experience in building intelligent payment products and learnings to ripe markets like SEA countries.


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Keywords: Razorpay, fintech, expansion, banking, product upgrade
Categories: Payments & Commerce
Companies:
Countries: India
This article is part of category

Payments & Commerce