Razorpay smbs 160m series gic capital
Razorpay smbs 160m series gic capital, a leading Indian fintech company, has raised $160 million in a Series E funding round led by GIC and Sequoia Capital. The funding round also saw participation from existing investors such as Ribbit Capital, Matrix Partners, and Y Combinator. The latest funding round brings Razorpay’s valuation to $3 billion, making it one of the most valuable fintech startups in India. The company plans to use the funds to expand its product offerings and scale its operations.
Expanding Product Offerings
Razorpay offers a range of payment solutions to small and medium-sized businesses (SMBs) in India. Its products include payment gateway services, payment links, subscription billing, and vendor payouts. With the new funding, Razorpay plans to expand its product offerings to include lending and insurance products for SMBs. The company has already launched Razorpay Capital, a lending platform that provides working capital loans to SMBs. With the new funding, Razorpay plans to scale up its lending operations and offer more loan products to SMBs.
Razorpay plans to use the new funds to scale its operations and expand its reach across India. The company currently serves over 5 million businesses in India and processes over $25 billion in annualized payment volume. With the new funding, Razorpay plans to expand its team and hire more engineers, product managers, and sales professionals. The company also plans to invest in marketing and customer acquisition to reach more SMBs across India.
The latest funding round is a significant milestone for Razorpay smbs 160m series gic capital and highlights the growing demand for fintech solutions among SMBs in India. With the new funds, Razorpay plans to expand its product offerings and scale its operations, which will help it reach more SMBs and drive growth in the Indian fintech market.