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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)

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.

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