Bangalore-based Razorpay, a digital payments platform for small and medium businesses (SMBs), has raised $160 million in a Series D funding round led by Sequoia India. The round also saw participation from existing investors Ribbit Capital, Tiger Global, Y Combinator, Matrix Partners India, and GGV Capital.
With this investment, the company has raised a total of $206 million in equity and debt financing so far. The proceeds from the latest round will be used to strengthen Razorpay’s merchant base and expand its product offerings.
About Razorpay
Founded in 2014, Razorpay provides a platform that connects businesses with customers, allowing them to collect payments online. It offers services such as a payment gateway, subscription billing, and invoicing for businesses across India.
The company claims to have over 3.5 million businesses on its platform, with a reach of more than 40 million users. Razorpay has also partnered with more than 100 banks to facilitate payments and offers its services in more than 100 currencies. Additionally, it has tie-ups with several online and offline merchants such as Flipkart, Amazon, and BigBasket.
Razorpay’s Growth
Razorpay has experienced significant growth over the past few years. In 2017, the company raised $20 million in its Series B funding round. This was followed by a $75 million Series C round in 2018. In 2019, Razorpay became the first Indian fintech startup to be valued at over $1 billion.
The company has als been actively expanding its product offerings. It recently launched ‘Payouts’, a platform that allows businesses to transfer money to their employees and vendors. It also launched a ‘Business Manager’ feature that allows businesses to manage their finances in a single dashboard.
Conclusion
Razorpay’s latest $160 million funding round is a testament to its growing popularity in the fintech space. The company has been making investments in expanding its product offerings and strengthening its merchant base. With the new funds, it is well-positioned to take advantage of the increasing demand for digital payments solutions in India.
Related FAQS
Q1. Who led the Series D funding round of Razorpay?
A1. The Series D funding round of Razorpay was led by Sequoia India.
Q2; what is bangalorebased razorpay smbs 160m series india?
A2. Bangalore-based Razorpay, a digital payments platform for small and medium businesses (SMBs), has raised $160 million in a Series D funding round led by Sequoia India.
Q3; what is bangalorebased smbs 160m gic sequoia india?
A3. Bangalore-based SMBs has raised $160 million in a Series D funding round led by GIC and Sequoia India.
what is the benefits of razorpay smbs 160m series gic capital?
A3. The benefits of Razorpay SMBs $160 million Series D funding round include strengthened merchant base, expanded product offerings, increased reach of users, and tie-ups with online and offline merchants.
Q5; what is razorpay smbs 160m series gic sequoia?
A5. Razorpay SMBs has raised $160 million in a Series D funding round led by GIC and Sequoia India.