Razorpay
Funding History
| Series D · 10/2020 | $1.0B |
|---|---|
| Series E · 04/2021 | $3.0B |
| Series F · 12/2021 | $7.5B |
About
Razorpay was founded in 2014 by Harshil Mathur and Shashank Kumar, both IIT Roorkee graduates, and went through Y Combinator before launching its payment gateway product for Indian businesses. The company expanded from a single payments API into a broader suite spanning payment processing, RazorpayX business banking, Razorpay Capital lending, and payroll and compliance tools, positioning itself as a full financial operating system for merchants rather than a single-product payments company.
- CEO
- Harshil Mathur
- Headquarters
- Bangalore
- Founded
- 2014
- Website
- razorpay.com
Overview
Razorpay is a Bengaluru-based fintech company founded in 2014 by Harshil Mathur and Shashank Kumar that provides payment gateway, business banking, lending and payroll infrastructure for Indian businesses. The company grew from a payments-processing startup into a broader financial operating system, offering products such as Razorpay Payment Gateway, RazorpayX neo-banking, Razorpay Capital, and payroll/compliance tools, serving more than 12 million merchants including Facebook, Ola, Zomato, Swiggy and Cred. Razorpay reached unicorn status in October 2020, tripled its valuation to $3 billion in April 2021, and was valued at $7.5 billion after a $375 million Series F round in December 2021 led by Lone Pine Capital, Alkeon Capital and TCV. Razorpay initiated a 'reverse flip' in May 2023 and completed it in May 2025, merging its US-registered parent entity into its Indian subsidiary, Razorpay Software India Pvt. Ltd., redomiciling to India ahead of a planned public listing. Razorpay confidentially filed a Draft Red Herring Prospectus (DRHP) with India's SEBI on June 12, 2026, targeting an IPO of roughly ₹5,000-6,000 crore (about $500-600 million) at a targeted valuation of approximately ₹50,000-60,000 crore ($5-6 billion), a discount to its 2021 private valuation.
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