Razorpay

Razorpay
Private
Industry Payment solutions
Founded 2013
Founders Shashank Kumar
Harshil Mathur
Headquarters Bangalore, Karnataka, India
Area served
 India
Products Payment Gateway, Subscriptions, UPI Payments, Payment Links, Route, Invoices, Smart Collect
Website razorpay.com

Razorpay is a payments company that provides payment solutions to online merchants in India.[1] Razorpay was founded in 2014 and is headquartered in Bangalore, India. Razorpay allows online businesses to accept, process and disburse digital payments through several payment modes like debit cards, credit cards, net banking, UPI and prepaid digital wallets.[2][3] Razorpay payment solutions can be integrated by both web and mobile applications.[4]

History

Razorpay was founded in 2014 by IIT Roorkee alumni Shashank Kumar and Harshil Mathur in Jaipur and was part of the winter batch of Y Combinator's startup program in 2015.

Funding

After being incubated by Y Combinator in 2015, Razorpay raised a seed funding of $2.5 million, which was led by Matrix Partners and included 33 other angel investors like Justin Kan, Ram Shriram, Naveen Tewari and Kunal Shah.[5]

In September 2015, Razorpay raised a total of $9 mil in Series A funding with participation from Matrix Partners and Tiger Management.[6]

In July 2016, Mastercard made a strategic investment in Razorpay. This investment was part of the 'Start Path' program launched by MasterCard.[7]

In January 2018, Razorpay raised $20 million as Series B Funding from its initial investors, Tiger Management, Matrix Partners and Y Combinator.[8]

Product

Razorpay facilitates online payments by providing developer-friendly APIs and integration process.[4] Other offerings include a comprehensive dashboard to manage payments, as well as other plugins and integration suites for all major backend technologies and e-commerce platforms.

In September 2017, Razorpay launched four products - Route, Smart Collect, Subscriptions and Invoices, which allow businesses to manage multiple aspects of money movement including collection, reconciliation, and disbursal.[9]

Recognition

  • 2016 - Nasscom 'League of 10' Companies[10]
  • 2017 - Financial Express Software Product of the Year, Runner up[11]
  • 2017 - Founders Shashank Kumar and Harshil Mathur got selected for the 'Forbes 30 Under 30'[12]
  • 2017 - Best POS Innovation, Bronze Award, PYMNTS.com[13]
  • 2018 - India's Top 50 Mid-Sized Workplaces, Great Places to Work[14]
  • 2018 - IAMAI - Best Digital Payment Facilitator[15]

See also

References

  1. ↑ "About Razorpay company".
  2. ↑ "Razorpay unveils version 2.0 with launch of new products". @businessline. Retrieved 2018-10-03.
  3. ↑ "Razorpay is India's First Payment Gateway to Launch UPI". Business Wire. 23 September 2016.
  4. 1 2 "Simplifying online payments". Business Standard. Priya Prasad. 4 January 2016.
  5. ↑ "Jaipur-based startup Razorpay raises $120,000 from Ycombinator". The Economic Times. Anand Murali. 23 March 2015.
  6. ↑ "Meet Razorpay, the first Indian startup to get YCombinator backing this year". Tech in Asia. Malavika Velayanikal. 23 March 2015.
  7. ↑ "MasterCard invests in online payment gateway solution Razorpay". India Times. Payal Ganguly. 1 July 2016.
  8. ↑ "India's Razorpay nabs $20M led by Tiger Global for its Stripe-like payment gateway". TechCrunch. 15 January 2018.
  9. ↑ "Razorpay unveils version 2.0 with launch of new products". 21 September 2017.
  10. ↑ "Nasscom selects Razorpay in the 'League of 10' Companies of the year". Business Line. 27 October 2016.
  11. ↑ ""Express IT Awards Winners 2016". The Financial Express.
  12. ↑ "Shashank Kumar and Harshil Mathur have made it a breeze for businesses to receive digital payments". Forbes India. Harichandan Arakali. Retrieved 16 February 2017.
  13. ↑ "2017 Innovator Award Winners - Best POS Innovation". Innovation Project.
  14. ↑ "Razorpay recognised as one of India's best companies to work for". Indian Express. 8 August 2018.
  15. ↑ "IAMAI - India Digital Awards". www.iamaiida.in. Retrieved 2018-09-27.


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