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Razorpay is an India-based financial technology company. The company was founded in 2014 by Harshil Mathur and Shashank Kumar as a digital payment platform for small businesses. As of March 2023, Razorpay was valued at about $7.5 billion.

History
Razorpay was founded in 2014 by Shashank Kumar and Harshil Mathur, who became friends while studying at IIT Roorkee. After graduating, Kumar took a position at Microsoft and Mathur took one at the Mumbai office of Schlumberger, an oilfield services provider. In 2014, they decided to start a digital payments business in India and created Razorpay.

Razorpay expanded its services in 2018 to include online-only banking and business lending via their platforms RazorpayX and Razorpay Capital, respectively.

The company acquired the data science firm Thirdwatch in August 2019 in order to develop its artificial intelligence fraud-detection capabilities. The company acquired Opfin, a payroll and HR management company in 2019.

Amid the Covid-19 pandemic, in 2020 the company started a collateral-free line of credit called “Cash Advance,” for micro, small, and medium businesses.

Razorpay acquired the company TERA Finlabs in 2021 to expand the risk management capabilities.

In August 2022, it acquired the offline point of sale platform Ezetap for about $200 million. It acquired the customer rewards and loyalty platform Poshvine in September 2022. In October 2022, the company acquired a majority stake in the Malaysian financial technology company Curlec.

During the 2023 collapse of Silicon Valley Bank Razorpay helped Indian startups move their money out of the collapsing institution and into Indian banks.

In December 2023, the Reserve Bank of India granted Razorpay its payments aggregators license, which allows merchants to accept payments through the company’s digital platform.

As of March 2023, Razorpay was valued at about $7.5 billion. In February 2024, the company processed $150 billion in digital transactions for fiscal year 2024.