ETtech Exclusive | In ‘reverse flip’, Razorpay parent entity plans to return to India from the US

Bengaluru-headquartered digital payments firm Razorpay is in the process of moving back its parent entity to India from the US, amid tighter sectoral regulations, said two people aware of the matter. The development comes months after Walmart-owned online payments firm PhonePe shifted its holding company to India from Singapore.

The Y Combinator-backed Razorpay, valued at $7.5 billion, had to necessarily domicile itself in the US, when it raised funds from the Silicon Valley famed incubator. Razorpay offers payment services to merchants.