{"id":5146,"date":"2021-04-21T18:28:33","date_gmt":"2021-04-22T00:28:33","guid":{"rendered":"https:\/\/www.paymentfacilitator.com\/?p=5146"},"modified":"2022-12-05T12:03:38","modified_gmt":"2022-12-05T19:03:38","slug":"pf-razorpay-announces-new-funding-round-triples-valuation","status":"publish","type":"post","link":"http:\/\/infinicept.com\/payment-facilitator\/news\/pf-razorpay-announces-new-funding-round-triples-valuation\/","title":{"rendered":"PF Razorpay Announces New Funding Round, Triples Valuation"},"content":{"rendered":"\n<p><strong>Bangalore-based payment facilitator <\/strong><a href=\"https:\/\/razorpay.com\/\"><strong>Razorpay<\/strong><\/a><strong> has tripled its valuation over the past six months to $3 billion. The company just completed a Series E funding round that drew in $160 million, according to a <\/strong><a href=\"https:\/\/razorpay.com\/blog\/announcing-razorpays-160-million-series-e-funding-valuation-triples-to-3-billion\/\"><strong>post<\/strong><\/a><strong> on its web site.<\/strong><\/p>\n\n\n\n<p>The round was led by Singapore\u2019s sovereign wealth fund GIC and investment firm Sequoia and joined by Ribbit Capital and Matrix Partners.<\/p>\n\n\n\n<p>\u201cAlong with my team at Razorpay, I have seen immense resilience and tenacity among entrepreneurs across the country as they not only faced the pandemic but adapted to it,\u201d Harshil Mathur, the company\u2019s CEO and co-founder, said in the post.<\/p>\n\n\n\n<p>\u201cWith consumers turning to digital commerce, more and more businesses went online, and I was amazed at the speed of recovery and growth of Indian businesses,\u201d he said.<\/p>\n\n\n\n<p>The company will use the fresh funds to develop products on its business banking platform, RazorpayX, Mathur said. It also plans to grow its lending product and is considering an expansion into Southeast Asia.<\/p>\n\n\n\n<p>The company <a href=\"https:\/\/techcrunch.com\/2021\/04\/18\/razorpay-160-million-raise-valuation-hits-3-billion\/\">told TechCrunch<\/a> that its latest valuation would allow it to explore more M&amp;A opportunities.<\/p>\n\n\n\n<p>\u201cWe are one of the largest payments providers in the Indian ecosystem. We want to take the learnings we have in India to the Southeast Asian market. Before the end of the financial year, we want to launch in one or two Southeast Asian markets,\u201d Mathur said.<\/p>\n\n\n\n<p>The company first become a unicorn, valued at over $1 billion after a $100 million funding round, <a href=\"https:\/\/razorpay.com\/blog\/razorpay-secures-100-million-in-series-d-funding\/\">last October<\/a>.<\/p>\n\n\n\n<p>According to Bloomberg, the company has increased the annual payments volume it processes to $40 million, up from $12 billion a year ago. It has also grown from 3 million businesses on its platform to 5 million today.<\/p>\n\n\n\n<p>The company has raised $366.5 million to date, the Bloomberg <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-04-19\/india-s-razorpay-triples-valuation-to-3-billion-with-funding\">article said<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian payment facilitator Razorpay has tripled its valuation over the past six months. The company just completed a Series E funding round that drew in $160 million. <\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[1014],"tags":[],"class_list":["post-5146","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/5146","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/comments?post=5146"}],"version-history":[{"count":1,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/5146\/revisions"}],"predecessor-version":[{"id":6888,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/5146\/revisions\/6888"}],"wp:attachment":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/media?parent=5146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/categories?post=5146"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/tags?post=5146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}