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Razorpay secures $75M funding led by Ribbit Capital

Razorpay has now secured $75 Million in its latest funding round of equity financing, which is led by the financial technology focused much more on the investment firm Ribbit Capital, which will see the Bangalore based Business to Business payment solutions company to double down on its new business lines.

Marquee Venture Capital firm Sequoia Capital has also entered into the five-year-old cap table, with some of the existing ventures investors New York-based Tiger Global Management and Y Combinator Continuity Fund also participating in the funding round of Series C, according to the report which has been revealed.

“We hope to have a headcount of about 700 by the end of the current fiscal, particularly in senior management roles, as well as undertake some buyouts over the next six months,” said Mathur.

Razorpay X is the expanded product suite which is launched by the company that accepts the payments, reconciles transactions, manages cash flows and provide the flexible payouts. The product which is as of now still in beta stage has more 2000 merchants on board, is also expected to go live in the next three months.

Source: Razorpay

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