Bangalore based payment API provider Razorpay has raised a $20m Series B round led by Tiger Global, at a valuation over $100m.
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India’s Razorpay nabs $20M led by Tiger Global for its Stripe-like payment gateway
Today, Razorpay offers 6 different services, including subscriptions, invoicing and payment URLs alongside its basic payment offering, and the idea will be to add more products into the mix, providing any and all payment services to companies doing any part of their business transactions online. “Our aim is to be a complete payment management platform for India,” he said in an interview. So far, the company’s growth has been impressive. In the last year, Mathur said that the company went to 65,000 merchants from 20,000, and it’s been seeing 30 percent growth month-on-month in its revenues. The company is “almost” profitable he said, and the plan will be to tip into the black this year, as well as expand its customer base to 200,000. “It’s a pretty exciting year for us,” he added.
