Razorpay
Razorpay, headquartered in Bengaluru, India, is a leading fintech company specializing in payments, serving over 10 million businesses and powering online payments for numerous unicorn startups.
Company History
Razorpay was founded in 2014 and is headquartered in Bengaluru, KA, India. In a relatively short period, it has grown to become a significant player in the fintech industry, particularly in the payments sub-industry. The company is noted for its rapid growth and innovation, making significant strides in the digital payments space. Razorpay successfully completed the Y Combinator W15 batch and has since raised a total of $741.5 million through multiple funding rounds. Their valuation saw a significant jump from $1 billion to $7.5 billion within 14 months in 2021.
Products and Services
Razorpay provides a comprehensive range of payment and banking solutions. The company's offerings include India’s first completely digital onboarding process for startups, support for UPI and Bharath QR, and India's multi-network tokenization solution, TokenHQ. Razorpay is also the first payment gateway in India to support credit cards on UPI. They plan to scale up their Business Banking Suite, RazorpayX, in 2023. Their services power online payments for 34 of the 42 startups in India that became unicorns in 2022, catering to over 10 million businesses.
Industry and Sector
Razorpay operates within the fintech industry and specializes in the payments sub-industry. The company provides various solutions to facilitate digital transactions and banking services. Their ecosystem caters primarily to businesses, enabling smooth and secure online payments. Razorpay's innovations have positioned them as pioneers within the Indian fintech landscape, especially with their digital onboarding processes and multi-network tokenization solutions.
Acquisitions
Razorpay has made several strategic acquisitions to expand its capabilities and market reach. The acquisitions include Ezetap, PoshVine, IZealiant, Curlec, TeraFin Labs, RazorpayX Payroll, and Thirdwatch. These acquisitions have not only enhanced Razorpay's product offerings but also helped them become India’s largest omnichannel payment gateway post acquiring Ezetap.
Global Reach and Workforce
Razorpay serves regions including India and South Asia and offers remote and partly remote working options. The company is headquartered in Bengaluru, KA, India, and employs approximately 2700 team members. Razorpay's global reach and flexible work options have allowed them to attract and retain a talented and diverse workforce. Their health insurance policy extension to include LGBTQIA+ and Live-In partners reflects their commitment to inclusivity.