Razorpay is on path to USD 1 billion market valuation - CB Insights

Razorpay, India’s first converged payments solution company, added yet another feather in their illustrious cap. In a list published by CB Insights, a firm that tracks startups globally, Razorpay has been listed in the top 50 private companies in the world that are on the path to a $1 billion valuation. Razorpay is one amongst the 5 Indian companies that made it to this prestigious list.

Over the last 4 years, Razorpay has achieved significant milestones and accolades for their technologically superior product suite, customer service and great work culture. They have also witnessed tremendous growth, both, in terms of market share and mind space with customers and industry peers.

Caught with immense joy, CEO & Co-founder, Harshil Mathur said, “The last four years have been such an exciting journey for us. From developing new solutions and constantly redefining industry benchmarks in product innovation to witnessing how it is benefiting businesses in the cash-rich traditional sector, it’s been such a satisfying experience. Therefore, to be able to continue to power the financial ecosystem for disruptive companies, this recognition by CB Insights and the New York Times is a delight and encouragement for us.”

CB Insights is a technology market intelligence platform that analyzes millions of data points on venture capital, start-ups, patents and partnerships, with an aim to help one see ‘tomorrow's opportunities, today'. They have analyzed a variety of data to arrive at the list of 50 private companies.

Razorpay has been charting an exponential growth since inception. The company currently powers digital payments for more than 200,000 small & large businesses; over 60% of businesses use more than one product. They have clocked in a healthy growth rate of 15-20% month-on-month and are geared up to increase their merchant count to 3,00,000 by 2019.

In December 2018, the Company announced the launch of three new financial products and an exclusive community for Indian start-ups to thrive. Razorpay X (Business Banking), Razorpay Capital and Razorpay Flash Checkout along with The X Club are the new additions to the existing Razorpay 2.0 product suite of payment gateway, subscriptions, disbursements, B2B collections, payment links and GST enabled invoices. The converged payments solution company expects a 5x growth in its revenue by the end of the next fiscal year.

(With inputs from agencies.)