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Payments solutions provider Razorpay raises $20 million in Series B funding

January 15, 2018

Payments solutions firm Razorpay has raised $20 million in funding led by Tiger Global and Y Combinator. The series B round funding also saw participation from Matrix Partners. The company had previously raised $11.5 million in series A round from the same investors along with 33 angel investors and a strategic investment by MasterCard in 2016. The company has till date raised $31.5 million.

The funds will be used for its next phase of growth by scaling products and bolstering its technology and expanding to newer markets like South East Asia. The company added that it has been witnessing 25-30 per cent month-on-month growth which it hopes would continue.

Razorpay was founded in December 2014 and began operations by offering technology to accept all payment modes to online businesses in India. Its merchant partners include GoIbibo, Yatra, Zomato, Zoho, DSP Blackrock, Zerodha, among others.

 
 

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