Razorpay raises $160 mn, valuation trebles to $3 bn in six months: Watch interview with co-founder Harshil Mathur
The funding boom continues for the Indian startup ecosystem. Digital payments and business banking platform Razorpay said it has raised $160 million in its Series E round of funding, at a valuation of $3 billion, barely six months after it raised funding that valued it at a billion dollar, underlining the huge funding interest in the current environment. In an interview with Moneycontrol's Chandra R Srikanth, Razorpay co-founder and CEO Harshil Mathur said the money will be used to expand its digital payments business in South East Asia, make acquisitions and build out its neo banking platform, with plans to hire over 600 employees. The round was co-led by its existing investors GIC and Sequoia India, with Ribbit Capital, Matrix Partners, and Tiger Global also participating.