Page 8 - Razorpay

Online payments firm Razorpay raises $20 mn from Tiger Global, Y Combinator

Payments solutions firm Razorpay today said it has raised USD 20 million in funding led by Tiger Global and Y Combinator. The series B round also saw participation from Matrix Partners. The company has raised USD 31.5 million till date, including from the present round. "We will use the funds for our next phase of growth by scaling products and bolstering our technology and expanding to newer markets like South East Asia," Razorpay CEO & Co- Founder Harshil Mathur told PTI. He added that the company has been witnessing 25-30 per cent growth month-on-month, which it hopes to continue. The company had previously raised USD 11.5 million in series A round from the same marquee investors along with 33 angel investors, and a strategic investment by MasterCard in 2016. "The cash-heavy traditional sectors and new age businesses require comprehensive and powerful products that enable more than just payment acceptance and help them scale money movement through technology. And