Razorpay, the digital payments and business banking platform, said it received a strategic investment from Salesforce Ventures. He did not disclose the amount of the investment.
During its last Series E fundraiser in April, Bengaluru-based Razorpay was valued at over $ 3 billion.
“At Razorpay, we want to make further progress in the idea of investing in India’s digital future and building a smart payment and banking infrastructure for the new world,” said Harshil Mathur, CEO and co-founder by Razorpay.
“I am confident that this investment, along with the support of our existing investors, will help create an ecosystem for hassle-free, easy-to-integrate payments and banking experience. We also hope to expand, create new products and offer this experience to companies in Southeast Asian countries as well, ”he added.
Over the past six months, Razorpay said it has seen 40-45% month-over-month growth. Currently, the company has reached $ 50 billion in TPV (Total Payment Volume).
RazorpayX, the company’s neobanking platform, has seen more than 400% growth in transaction volume during its 16-plus months of pandemic and currently serves more than 15,000 Indian businesses, the company said.
“The path to a ‘less cash’ economy has been accelerated with the pandemic. The rapid growth of digital payments over the past year has opened doors for technological innovation and Razorpay has become the company of choice for many e-commerce companies. said Arundhati Bhattacharya, President and CEO of Salesforce India.
In April of this year, Razorpay announced her Series E fundraiser of $ 160 million, which tripled the company’s valuation to $ 3 billion in less than six months since becoming a unicorn. . This fundraising was co-led by its existing investors GIC and Sequoia India. He also saw the participation of Ribbit Capital, Tiger Global and Matrix Partners.
Razorpay currently powers payments for over 8 million businesses including Facebook, Cred, Ola, NPS, Amazon, Tata Technologies, Zomato, Amul, Swiggy, ICICI Prudential, among others, and claims everything is set to hit 200 million customers (of the current 140 million) by the end of this year.