business

Bits to Billions: How Razorpay raced from zero to $7.5 billion, a look at its journey from Jaipur to Bengaluru

Harshil Mathur and Shashank Kumar – 2 widely respected founders of the startup world – met as students in IIT Roorkee. After graduating, Kumar, who was Mathur’s senior, floated the idea of the two starting something of their own at some point. A year and several rejections later, Razorpay kickstarted its journey with a seed funding of $9 million, led by leading investment firm Tiger Global. Today, the company enables payments and banking solutions for over 8 million businesses and has added a host of marquee investors to its captable. Razorpay’s valuation jumped from $1 billion to $7.5 billion in just 14 months and it is now the most valued among unlisted fintechs.

first published: May 9, 2022 08:37 pm