Razorpay Raises $375 Mn From Lone Pine Capital, Others; Valuation More Than Doubles To $7.5 Bn

Razorpay has raised USD 375 million (about Rs 2,850 crore) in fresh funding from Lone Pine Capital and others at a valuation of USD 7.5 billion, which has more than doubled since the fintech major's last funding round in April this year, its co-founder and CEO Harshil Mathur said. Speaking to PTI, Mathur said the series F round was co-led by Lone Pine Capital, Alkeon Capital and TCV, and also saw participation from existing investors like Tiger Global, Sequoia Capital India, GIC and Y Combinator. "With this funding round, our valuation has increased to USD 7.5 billion -- the fastest increase in valuation for an Indian unicorn in a year. Razorpay was valued at USD 1 billion in October last year and USD 3 billion in April this year," he added.

from Top India News- News18.com https://ift.tt/3J35Uex