Bangalore-based Razorpay Raises $160M in Series E Funding Led by GIC

Razorpay, a leading Indian fintech company, recently announced that it has raised $160 million in its Series E funding round. The funding was led by Singapore’s sovereign wealth fund, GIC, and also saw participation from existing investors such as Sequoia Capital India, Ribbit Capital, and Matrix Partners. With this latest funding round, Razorpay’s valuation has reportedly crossed the $3 billion mark, making it one of the most valuable fintech startups in India.

The Rise of Razorpay

Founded in 2014 by Harshil Mathur and Shashank Kumar, Razorpay has quickly become a household name in the Indian fintech industry. The company offers a range of payment solutions to businesses of all sizes, including payment gateway services, payment links, subscription billing, and more. Razorpay’s user-friendly platform and competitive pricing have made it a popular choice among small and medium-sized businesses (SMBs) in India.

Over the years, Razorpay has expanded its offerings to include other financial services such as business loans and insurance. The company has also been actively working on developing new products and features to cater to the evolving needs of its customers. For instance, Razorpay recently launched a new product called “Instant Refunds” that allows businesses to offer instant refunds to their customers without any manual intervention.

The Significance of Series E Funding

The latest funding round is significant for Razorpay for several reasons. Firstly, it comes at a time when the Indian fintech industry is experiencing rapid growth, fueled by the increasing adoption of digital payments and the government’s push towards a cashless economy. With the COVID-19 pandemic accelerating the shift towards digital payments, Razorpay is well-positioned to capitalize on this trend.

Secondly, the funding will enable Razorpay to further strengthen its position in the market and expand its offerings. The company plans to use the funds to invest in new products and technologies, as well as expand its team and operations. Razorpay also aims to expand its presence beyond India and enter new markets in Southeast Asia and the Middle East.

The Role of GIC

The fact that GIC led the funding round is also significant for Razorpay. GIC is one of the world’s largest sovereign wealth funds, with assets under management of over $500 billion. The fund has a long-term investment horizon and typically invests in companies that have strong growth potential and a solid business model.

GIC’s investment in Razorpay is a testament to the company’s growth potential and its ability to disrupt the Indian fintech industry. It also highlights the increasing interest of global investors in the Indian startup ecosystem. With GIC’s backing, Razorpay is likely to gain more credibility and attract more investors in the future.

The Future of Razorpay

With its latest funding round, Razorpay is well-positioned to continue its growth trajectory and expand its offerings. The company’s focus on innovation and customer-centricity has helped it establish a strong foothold in the Indian fintech industry. With the support of investors like GIC, Razorpay is likely to continue disrupting the industry and driving digital transformation in India.

However, Razorpay will also face stiff competition from other players in the market, including established players like Paytm and newer entrants like BharatPe. To stay ahead of the game, Razorpay will need to continue innovating and offering value-added services to its customers.


Razorpay’s latest funding round is a significant milestone for the company and the Indian fintech industry as a whole. With its strong focus on innovation and customer-centricity, Razorpay has established itself as a leading player in the market. The support of investors like GIC will enable the company to continue expanding its offerings and enter new markets. As the Indian fintech industry continues to grow, Razorpay is well-positioned to capitalize on this trend and drive digital transformation in India.

Amelia Joseph

Myself Amelia Joseph. I am admin of For any business query, you can contact me at