Razorpay Raises USD 100 mn in funding, Become Unicorn
Bengaluru, Oct 13, 2020: Payments solution provider Razorpay has gained the ''unicorn'' status after aises USD 100 million funding from GIC, Sequoia Capital and existing investors.
Witnessing a 300 per cent growth in its business during the past six months, Razorpay said it has raised a Series-D fundraising of USD 100 million, giving the company more than USD 1 billion in valuation.
This round was co-led by Singapore's sovereign wealth fund GIC and Sequoia India, along with participation from Ribbit Capital, Tiger Global, Y Combinator, and Matrix Partners.
Razorpay plans to use the new funding to further strengthen and accelerate two new product lines RazorpayX, a neo-banking platform; and Razorpay Capital, its lending arm and invest in new initiatives to empower small and medium...