Razorpay Enters Unicorn Club With $100 Mn Funding From GIC, Existing Investors
Razorpay has raised $100 Mn in Series D funding, in a round co-led by GIC, Singapore’s sovereign wealth fund, and Sequoia Capital India.Existing investors Y Combinator, Matrix Partners India, Tiger Global, and Ribbit Capital also participated in the round.
Harshil Mathur, Co-founder and CEO, Razorpay, said, "We at Razorpay have always been a payments company, and our focus has always been financial solutions. With this funding we want to go further in our reach. We aim to build deeper tech products and solutions, as we always have done."
Commenting on the funding, Choo Yong Cheen, Chief Investment Officer for Private Equity at GIC, said in a press statement share by the company, “India has made significant strides in establishing a digital payments eco-system and Razorpay has established itself as a clear leader, with its strong focus on customer experience and product innovation. GIC has a long track record of partnering with leading fintech companies globally, and is delighted to partner with Razorpay in its journey to transform payments and banking. We look to support Razorpay’s continued growth and its strong management team in this fast-developing space.”