Razorpay in talks for Sequoia-led $100 million infusion

BENGALURU: Online payments startup Razorpay is in advanced talks with marquee venture capital firm Sequoia Capital and others for raising about $75-100 million (Rs 525-700 crore), two people aware of the development said.

Sequoia is expected to lead the fund-raise that could value the five-year-old Bengaluru-based startup at about $425-$450 million even as it looks to get one more new investor on board.

Razorpay counts Silicon Valley’s prominent accelerator Y Combinator, Tiger Global, Matrix Partners India and Apoletto Managers, the private investment arm of Russian billionaire Yuri Milner’s DST Global, among others as its investors. These existing investors are likely to participate in the new capital raise for the startup. Apart from being a Y Combinator alumnus, Razorpay had raised funds from the YC Continuity Fund, the accelerator’s $700 million growth stage fund, last year when it raised $20 million.