India's Razorpay hits valuation of $7.5bn

Fintech to build solutions for small businesses, expand into Southeast Asia

Razorpay's valuation has surged sevenfold to $7.5 billion in the space of a year. (Source photo by Reuters and Razorpay)

SAYAN CHAKRABORTY, Nikkei staff writer

December 20, 2021 18:55 JST

BENGALURU -- Razorpay, which offers payment processing and digital banking services to businesses, has raised $375 million in a funding round led by Lone Pine Capital, Alkeon Capital and TCV, signaling heightened investor interest for Indian fintech startups.

Existing investors Tiger Global, Sequoia Capital, GIC and Y-Combinator also participated in the round, valuing Razorpay at $7.5 billion, the company said in a statement on Monday. The valuation is up sevenfold since October 2020, when it breached $1 billion.