Razorpay raises $100 million from GIC, Sequoia Capital India and others

Payments solution provider Razorpay on Monday said it has raised USD 100 million (about Rs 731 crore) in a funding round co-led by Singapore’s sovereign wealth fund GIC and Sequoia Capital India.

The round, which valued the company at over USD 1 billion also saw participation from Ribbit Capital, Tiger Global, Y Combinator and Matrix Partners, a statement said.

The company has witnessed a 300 per cent growth in its business during the last six months, it added.

Razorpay helps businesses modernise their financial infrastructure by providing intelligent automated payment and banking solutions to manage their entire money flow.

Razorpay has raised USD 206.5 million in investments since its inception in 2014. In 2019, it had raised USD 75 million in series C funding.