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Razorpay begins IPO preparations, eyes Rs 4,500 Cr fresh issue: Report

EntrackrEntrackr · 11d ago
Razorpay begins IPO preparations, eyes Rs 4,500 Cr fresh issue: Report
Medial

Razorpay begins IPO preparations, eyes Rs 4,500 Cr fresh issue: Report Digital payments unicorn Razorpay has reportedly begun preparations for an initial public offering (IPO) and is looking to raise up to Rs 4,500 crore ($505 million) in fresh capital. According to an Economic Times report, the Bengaluru-based company has invited merchant bankers to pitch for the IPO mandate, with Kotak Mahindra Capital and Axis Capital emerging as key contenders. The IPO is likely to be launched towards the end of the year, though the timeline and issue size are not yet final. The report further added that Razorpay is also in discussions for a pre-IPO funding round, which is likely to be largely secondary in nature. Razorpay was last valued at $7.5 billion in 2021, when it raised $375 million during the peak of the funding cycle. Entrackr has reached out to Razorpay for comments. Razorpay converted itself into a public limited company in April last year, a development earlier reported exclusively by Entrackr. In the same year, the fintech unicorn also completed its reverse flip to India and paid around $150 million in taxes related to the move. In another recent development, the firm acquired a majority stake in POP UPI for $30 million and also secured a cross-border payment aggregator licence from the Reserve Bank of India. Founded by Harshil Mathur and Shashank Kumar, Razorpay has raised over $741 million in funding and counts GIC, Peak XV Partners, Z47 (formerly Matrix Partners India), and Tiger Global among its key investors. On the financial front, Razorpay reported a 65% year-on-year jump in consolidated revenue to Rs 3,783 crore in FY25, led by strong execution across its payment gateway, banking, POS, and international businesses, the company said in a statement. The company’s gross profit rose 41% to Rs 1,277 crore, although it reported a net loss due to ESOP-related expenses of Rs 1,209 crore and one-time costs linked to its redomiciling.

Razorpay secures RBI’s cross border license

EntrackrEntrackr · 1m ago
Razorpay secures RBI’s cross border license
Medial

Razorpay secures RBI’s cross border license Razorpay has received the payment aggregator cross border (PA–CB) license from the Reserve Bank of India. This authorisation allows the company to facilitate both inward and outward cross-border payments under full regulatory oversight. With the new license, Razorpay will support exporters, SaaS companies, freelancers, D2C brands, and global companies operating in India. Razorpay’s international payments stack is used by companies such as Airbnb, Agoda, Shopify, Klook, and Hostinger. The cross-border business is growing at 40% year-on-year. Razorpay International Payments enables Indian businesses to accept payments in more than 130 currencies through cards, wallets, and local bank transfers. The platform provides optimised payment flows with a reported 95% success rate for international transactions. For global companies entering India, Razorpay offers a single integration that enables UPI, RuPay, EMIs, netbanking, and over 100 local payment methods. Companies can go live in India without creating a local entity. The platform supports INR-based pricing, OTP-led checkout, and India-based customer support. The company has raised more than $741 million from investors including Lightspeed, Lone Pine Capital, Alkeon Capital, TCV, GIC, Tiger Global, Peak XV Partners, Ribbit Capital, Matrix Partners, Salesforce Ventures, and Y Combinator. With this, Razorpay joins the list of few payment fintech companies in India authorized to offer all three key payment capabilities under a single infrastructure. Last month, Easebuzz, PayU and Pine Labs also received integrated authorisation from the Reserve Bank of India (RBI).

Life after getting payment aggregator license: Thousands of merchants already pinging us, says Razorpay's Harshil Mathur

Inc42Inc42 · 1y ago
Life after getting payment aggregator license: Thousands of merchants already pinging us, says Razorpay's Harshil Mathur
Medial

Fintech companies such as Razorpay, Cashfree, EnKash, Open, and Payments have finally received approval from the Reserve Bank of India (RBI) to become payment aggregators (PAs) after waiting for over a year. This approval allows them to accept various payment instruments for e-commerce websites and merchants. Harshil Mathur, CEO of Razorpay, expressed his excitement about the approval and discussed the impact on their business, alternative strategies they implemented, and their plans to onboard new merchants. While the delay had some emotional impact, it had minimal financial impact, as the company focused on other business lines such as point of sale devices and international payments.

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