For the second year running, Razorpay, India’s First Converged Payments Solution company, gets recognised by the renowned American startup accelerator, Y Combinator, in its mega list of top 100 companies for 2019, as sorted by each company’s valuation.
The top 100 companies have a combined valuation of over $155 billion with most of the companies valued at $150 Mn and above. Razorpay was part of Y Combinator’s winter 2015 batch and is among the three Indian startups to be featured in this year’s list, along with Meesho and Cleartax.
In a short span of four and a half years, the company has witnessed massive growth in terms of market share and mindspace with their partner businesses and industry peers. This ranking in the top 100 companies is a testimony to the company’s culture, and its zeal to make a positive difference in the ecosystem.
Harshil Mathur, CEO and Co-founder, Razorpay, said, “Y Combinator is the accelerator behind groundbreaking and innovative startups. We were the second Indian company to be a part of YC, Silicon Valley’s largest tech accelerator and that’s how our journey began since 2015. To be ranked in this prestigious list for the second time in a row is a reassurance that we are headed in the right direction, doing the right thing in the right way. We started off with a hope to make some difference in India’s financial ecosystem, but today, the dent we’ve created by powering disruptive businesses with intelligent technology only excites us to reach newer heights.”
Well-known for its transparent work culture and enthusiastic team members, Razorpay has been charting an exponential growth since its inception. Having evolved from being a single product company to a multi-product company, Razorpay has achieved 500% growth in the last one year and currently powers digital payments for 3,50,000 businesses.
The company aims to double headcount by next year and expects a 5x growth in its revenue by the end of the next fiscal year. Razorpay raised $75 million in Series-C, co-led by Sequoia India and Ribbit Capital; the company has raised over $105 million in total funding until now.
Razorpay, India’s first Converged Payments Solution company, helps Indian businesses with comprehensive and innovative solutions built over robust technology to address the entire length and breadth of the payment journey for any business. Established in 2014, the company provides tech payment solutions to over 350,000 businesses.
Founded by alumni of IIT Roorkee, Shashank Kumar & Harshil Mathur, Razorpay is the second Indian company to be a part of Silicon Valley’s largest tech accelerator, Y Combinator. Marquee investors such as Tiger Global, Matrix Partners, YCombinator and MasterCard have invested a total of $31.5 million through Series A & B funding and $75mn from Sequoia India & Ribbit Capital in Series C.
Around 33 angel investors including Snapdeal, InMobi & Freecharge founders, Visa’s Global Head of Strategy, Flipkart ex-CPO Punit Soni and internet entrepreneurs & investors Justin Kan and Tikhon Bernstam have invested in Razorpay’s mission to simplify payments. Known to be a developer oriented payment gateway, Razorpay focuses on essentials such as 24×7 support, one-line integration code and superior checkout experiences.