Razorpay is a payments company that provides payment gateway to online merchants in India.
Razorpay allows online businesses to accept, process and disburse digital payments through several payment modes like debit cards, credit cards, net banking, UPI and prepaid digital wallets.
Razorpay was founded in 2014 by Shashank Kumar and Harshil Mathur. The company is headquartered in Bangalore, with offices across India.
Razorpay accepts, processes for — and disburses money to — small businesses and enterprises. It also operates a neobanking platform, through which it offers credit cards and working capital to businesses. It also offers an international payments gateway that supports over 90 currencies.
Razorpay's other offerings include tax colocation and compliance disbursements, payment link generation, subscription plans with automated recurring transactions, and automatic reconciliation of incoming transactions.
Razorpay processes $60 billion in transactions annually (up from $5 billion in 2019). The company has amassed over 8 million businesses including Facebook, Swiggy, Cred, National Pension System and Indian Oil among its customers.
Razorpay is backed by Sequoia, Lone Pine Capital, Tiger Management, Alkeon Capital, TCV, Matrix Partners, Ribbit Capital, GIC, Y Combinator, Salesforce Ventures, Lightspeed, Mastercard, Moore Strategic, and others. The company raised $75M in secondary sale on May 10, 2022. This brings Razorpay's total funding to $834.7M to date. Razorpay was valued at a $7.5B from their Series F raised in Dec 2021, which was more than doubled from the $3B gained after Series E round raised in Apr 2021.