Razorpay
Razorpay is an Indian financial technology company headquartered in Bengaluru, Karnataka. Founded in 2014 by Harshil Mathur and Shashank Kumar, it provides online payment gateway solutions and financial services for businesses, including startups, SMEs, and enterprises. Razorpay's platform enables businesses to accept, process, and disburse payments through various methods such as credit cards, debit cards, net banking, UPI, and digital wallets. The company has expanded into neobanking, lending, and offline payment solutions. Valued at $7.5 billion in 2021, Razorpay is preparing for a public listing by 2026 and has relocated its headquarters from the US to India. With over 3,000 employees, it serves millions of businesses and processes billions in transaction volume annually.[1]
 | |
| Company type | Private |
|---|---|
| Industry | FinTech |
| Founded | August 1, 2014 |
| Founder | Harshil Mathur Shashank Kumar |
| Headquarters | Bengaluru, Karnataka, India |
Key people | Harshil Mathur (CEO) Shashank Kumar (MD) Murali Brahmadesam (CTO) Rahul Kothari (COO) Arpit Chug (CFO) |
| Products | Payment Gateway, RazorpayX, Razorpay Capital, Turbo UPI, Q-Zap |
| Revenue | ₹2,279 crore (US$260 million) (FY23) |
Number of employees | 3,000 (2024) |
| Website | razorpay |
Founders & Leadership
Razorpay was co-founded by Harshil Mathur and Shashank Kumar, both alumni of IIT Roorkee.
- Harshil Mathur (CEO): Mathur holds a BTech in Technology from IIT Roorkee and attended Y Combinator's W15 batch in 2015. He began his career as a Wireline Field Engineer at Schlumberger before founding Razorpay. Recognized in Forbes 30 Under 30 India and Asia lists, Mathur is a key figure in India's fintech ecosystem.[2][3]
- Shashank Kumar (Managing Director): Kumar, also an IIT Roorkee BTech graduate in Computer Science, worked as a Software Development Engineer at Microsoft and interned at the University of Minnesota. A Forbes 30 Under 30 India alum, he serves as MD and previously held the CTO role.[4]
Other key leaders include Murali Brahmadesam (CTO), Rahul Kothari (COO), and Arpit Chug (CFO).[5]
Timeline
| Year | Milestone |
|---|---|
| 2014 | Razorpay founded by Harshil Mathur and Shashank Kumar in Bengaluru.[6] |
| 2015 | Accepted into Y Combinator's W15 batch.[7] |
| 2018 | Launched Razorpay Capital, a lending platform for SMEs.[8] |
| 2020 | Achieved unicorn status with a $1 billion valuation.[9] |
| 2021 | Raised $375 million in Series F, valued at $7.5 billion.[10] |
| 2022 | Acquired Ezetap to enter offline payments market.[11] |
| 2023 | Received RBI Payment Aggregator (PA) license.[12] |
| 2024 | Reported ₹2,279 crore revenue and ₹7.2 crore profit in FY23.[13] |
| 2025 | Launched India’s first AI-integrated payment server and initiated reverse flipping to India.[14] |
Funding
| Date | Round | Amount | Investors |
|---|---|---|---|
| October 2015 | Seed | $11.5M | Y Combinator, Tiger Global Management |
| April 2017 | Series A | $20M | Tiger Global Management, Matrix Partners |
| June 2018 | Series B | $20M | Tiger Global Management, Ribbit Capital |
| October 2019 | Series C | $75M | Sequoia Capital India, Ribbit Capital, Y Combinator |
| October 2020 | Series D | $100M | GIC, Sequoia Capital India, Ribbit Capital |
| April 2021 | Series E | $160M | GIC, Sequoia Capital India, Tiger Global Management |
| December 2021 | Series F | $375M | Lone Pine Capital, Alkeon Capital, TCV, Tiger Global Management, Sequoia Capital India, GIC, Y Combinator |
Business Model
Razorpay operates a transaction-based revenue model, charging fees (typically 2% for domestic and 3% for international transactions, plus GST) for each payment processed through its platform. It also offers subscription plans and premium services for enterprises. The company serves businesses of all sizes, from startups to large enterprises, in the B2B and SaaS fintech space. Its developer-friendly APIs enable seamless integration for e-commerce platforms and marketplaces. Razorpay has expanded into neobanking (RazorpayX) and lending (Razorpay Capital), targeting SMEs with solutions like instant settlements and collateral-free loans. International transactions are projected to contribute 20% of revenue by 2025.[17][18]
Products / Services
Razorpay offers a suite of financial products and services:
- Payment Gateway: Supports credit/debit cards, net banking, UPI, and digital wallets (e.g., JioMoney, PayZapp).
- RazorpayX: Neobanking platform for automated payroll and banking services.
- Razorpay Capital: Lending platform providing instant settlements and collateral-free loans for SMEs.
- Turbo UPI: Fast UPI payment solution launched in 2023.
- Q-Zap: Intelligent payment solution for offline retailers, reducing billing time by 40%.
- Subscription Billing: Manages recurring payments for businesses.
- AI-Integrated Payment Server: Launched in 2025, designed for AI-driven payment processing.[19][20]
Growth & Metrics
As of 2024, Razorpay employs over 3,000 people and serves millions of businesses across India and Malaysia. In FY23, it reported a revenue of ₹2,279 crore and a net profit of ₹7.2 crore, with a total payment volume exceeding $150 billion. The company processes over 95% of its transactions via UPI, reflecting India's digital payment trends. Razorpay's valuation reached $7.5 billion in 2021, and it aims to achieve $1 billion in revenue by 2030. Its employee count grew by 15.3% from 2023 to 2024.[21][22]
Legal Entity Information
- Legal Name: Razorpay Software Pvt Ltd
- Foundation Date: 1 August 2014
- Registrar of Companies (ROC): ROC Bangalore
- Corporate Identification Number (CIN): U72200KA2013PTC069299
- Registered Address: 1st Floor, SJR Cyber, 22 Laskar Hosur Road, Bengaluru, Karnataka 560030, India
- Company Status: Active
Media & Public Recognition
Razorpay has received significant recognition:
- 2022: Won "Startup of the Year" at The Economic Times Startup Awards.[24]
- 2025: Co-founders Harshil Mathur and Shashank Kumar featured in Hurun India Rich List as the youngest billionaires with ₹8,643 crore each.[25]
- Forbes 30 Under 30: Both founders recognized in India and Asia lists.[26]
- Hosted Razorpay FTX 2025, a fintech event with industry leaders.[27]
FAQs
- What is Razorpay?
Razorpay is a Bengaluru-based fintech company providing payment gateway solutions, neobanking, and lending services for businesses.
- Who founded Razorpay?
Razorpay was founded by Harshil Mathur and Shashank Kumar in 2014, both IIT Roorkee alumni.
- What is Razorpay's valuation?
As of December 2021, Razorpay was valued at $7.5 billion.
- What are Razorpay's key products?
Key products include Payment Gateway, RazorpayX, Razorpay Capital, Turbo UPI, and Q-Zap.
- Is Razorpay planning an IPO?
Razorpay is preparing for a public listing in India by 2026.
External Links
Related Startups
References
- ↑ "Razorpay - Company Profile". Crunchbase. Retrieved 20 May 2025.
- ↑ "Razorpay". Forbes. Retrieved 20 May 2025.
- ↑ "Razorpay Success Story". StartupTalky. Retrieved 20 May 2025.
- ↑ "Razorpay - 2025 Founders and Board of Directors". Tracxn. Retrieved 20 May 2025.
- ↑ "Razorpay Company Profile". Boring Business Nerd. Retrieved 20 May 2025.
- ↑ "Razorpay". Y Combinator. Retrieved 20 May 2025.
- ↑ "Razorpay". Y Combinator. Retrieved 20 May 2025.
- ↑ "Razorpay Success Story". StartupTalky. Retrieved 20 May 2025.
- ↑ "Indian fintech giant Razorpay valued at $7.5 billion". TechCrunch. 19 December 2021. Retrieved 20 May 2025.
- ↑ "Report: Razorpay Business Breakdown". Contrary Research. Retrieved 20 May 2025.
- ↑ "Indian Digital Payments Startup Razorpay Acquires Ezetap". Pymnts. 18 August 2022. Retrieved 20 May 2025.
- ↑ "Razorpay Newsroom". Razorpay. Retrieved 20 May 2025.
- ↑ "Razorpay Posted Over ₹2279 Crore Revenue". Inc42. Retrieved 20 May 2025.
- ↑ "Razorpay Launches India's First AI-Integrated Payment Server". CyberMedia India Online. 1 May 2025. Retrieved 20 May 2025.
- ↑ "Razorpay - 2025 Company Profile, Funding & Competitors". Tracxn. Retrieved 20 May 2025.
- ↑ "Indian fintech giant Razorpay valued at $7.5 billion". TechCrunch. 19 December 2021. Retrieved 20 May 2025.
- ↑ "Report: Razorpay Business Breakdown". Contrary Research. Retrieved 20 May 2025.
- ↑ "What is RazorPay's business model?". Vizologi. Retrieved 20 May 2025.
- ↑ "Razorpay". Razorpay. Retrieved 20 May 2025.
- ↑ "Razorpay Launches Turbo UPI". Entrepreneur India. 30 May 2023. Retrieved 20 May 2025.
- ↑ "Razorpay Posted Over ₹2279 Crore Revenue". Inc42. Retrieved 20 May 2025.
- ↑ "Razorpay - 2025 Company Profile". PitchBook. Retrieved 20 May 2025.
- ↑ "Razorpay Software Pvt Ltd - Company Profile". Bloomberg. Retrieved 20 May 2025.
- ↑ "Razorpay can go public in a few years". The Economic Times. 17 November 2022. Retrieved 20 May 2025.
- ↑ "India's billionaire count surges to 284". The Economic Times. 30 May 2023. Retrieved 20 May 2025.
- ↑ "Razorpay". Forbes. Retrieved 20 May 2025.
- ↑ "India's Startup Ecosystem Needs More Than Just Funding". Business Standard. 1 March 2025. Retrieved 20 May 2025.