Razorpay, valued at $7.5 billion, has become the most valued fintech startup in India. The CEO Harshil Mathur has said that the company has raised $375 million in its recent funding round, doubling the total valuation of the company. The CEO also claimed that the company has become to have the fastest increase in valuation for an Indian unicorn in a year.
Razorpay is planning to use the raised funds to scale up its Business Banking Suite by offering new banking solutions in 2022. The company is also planning to invest in acquisition next year to expand its presence across Southeast Asian countries. Razorpay is also planning on hiring more than 600 employees in regard to its growth plans in India also. With its $60 billion TVP (Total Payment Volume) as of early December 2021, the company is set to achieve the target of $90 billion TVP by the end of 2022.