India`s Payments Solution Company ‘Razorpay’ – From a Fintech Startup to a Unicorn

Global Economic Impact of Coronavirus – Assessment and Mitigation (B)
Case Code: LDEN168
Case Length: 9 Pages
Period: -
Pub Date: 2021
Teaching Note: Available
Price: Rs.300
Organization : Razorpay Software Private Limited
Industry : Cards & Payments
Countries : India
Themes: FinTech, Banks and Banking, Technology in Banking, Entrepreneurship
Global Economic Impact of Coronavirus – Assessment and Mitigation (B)
Abstract Case Intro 1 Case Intro 2 Excerpts


In October 2020, Razorpay Software Private Limited (Razorpay), a payments-based startup headquartered in Bengaluru, India, announced that the company had joined the unicorn club . The unicorn status was achieved after securing US$ 100 million in a series D funding led by GIC and Sequoia Capital India. The existing investors of Razorpay – Tiger Global, Y Combinator, Matrix Partners, and Ribit Global, also participated in the Series D funding round. With the latest round of funding, Razorpay had raised a total of US$ 206.5 million since it started operations in 2014. Harshil Mathur (Mathur), Chief Executive and Co-Founder at Razorpay, said, “GIC is a good long-term investor to have. Their knowledge about public markets and investment in firms like Bajaj Finserv Ltd and Bandhan Bank Ltd will help us in our journey to go public. With this fundraise, we will focus on going deeper into the Indian market and broaden our product portfolio to grow our business and achieve profitability.” ..

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