Speaking to PTI, Mathur said that the Series F round was co-led by Lone Pine Capital, Alkeon Capital and TCV and was also involved by existing investors such as Tiger Global, Sequoia Capital India, GIC and Y Combinator.
“With this round of funding, our valuation has risen to $ 7.5 billion – the fastest increase in value for an Indian unicorn in a year. Razorpay was valued at $ 1 billion last October and $ 3 billion this April, “he added.
With the Series F round, Razorpay has raised a total of $ 741.5 million in investments since its inception in 2014.
The latest infusion will be used to further expand Razorpay’s business banking suite, RazorpayX, and offer new banking solutions in 2022 that will allow organizations to focus less on handling compliance and operations.
The comprehensive financial solutions company plans to invest in acquisitions in 2022 and expand its presence in Southeast Asian countries. The company also plans to hire over 600 people to advance its growth plans in India and abroad.
“While these freshly poured funds are being used in several areas, the most important one is investing in building smart technologies that make the lives of small businesses easier by offering them a radically different experience and reducing complexity. We want them to spend money. “Less time on compliance and operations management and more time developing new products, building new ideas and thinking standards,” said Mathur.
He added that the funds will help the company improve financial services and serve the underserved businesses and continue to build Digital India’s central nervous system.
Speaking of international expansion, Mathur said regions like Southeast Asian (SEA) countries are facing similar payment problems as India.
In addition, Razorpay plans to use the fundraiser to double its investment in acquiring B2B SaaS companies that can help grow operations while delivering the highest standards of customer experience in the country.
“Razorpay will make a bigger dent in the fintech universe and with the help of new acquisitions and partnerships we will be able to build a world-class financial services infrastructure for India’s businesses,” said Mathur.
Mathur pointed out that of the 42 companies crowned unicorns in 2021 alone, Razorpay will pay for 34 of them.
Razorpay achieved a total payment volume (TPV) of $ 60 billion in early December 2021 and has set a target of $ 90 billion TPV by the end of 2022.
“We recorded growth of over 300 percent year-on-year for the second year in a row. We aim to break even at an overall level in 2 to 2.5 years and will examine the way to an IPO in 2.5 to 3 years “, he added.
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