Indian Paytech Razorpay Secures $375m in Series F Round

Fazzaco learned that Indian paytech Razorpay has secured $375 million in a Series F funding round, which was co-led by Lone Pine Capital, Alkeon Capital, and TCV with participation from existing partners including Tiger Global, Sequoia Capital India, GIC, and Y Combinator.

Razorpay will use the new funds to scale its neobanking platform, RazorpayX, which already services 25,000 Indian businesses.

In late August, Capital Float, India's leading Buy Now Pay Later (BNPL) and credit platform, partnered with Razorpay​ to provide its BNPL solution to all Razorpay-enabled online merchants.

"With this new round of funding, we will look to strengthen India's financial infrastructure for small businesses, so that they don't have to worry about payments, banking, or compliance issues. They can focus on what they do best: build their products, bring new ideas to life, create scale, and thrive!" said Harshil Mathur, Razorpay's CEO and co-founder.

"As we continue to build more and more intelligent technologies, we believe we will radically change how payments and banking are done in nearly every sector of India."

Razorpay employs 2,000 people and has eight million partner businesses. Its product range covers payments, business banking, online commerce, and payroll.