Razorpay seeks to raise $270 million

The Series F round of funding is likely to more than double Razorpay’s valuation to around $6.5 billion ( 48,345 crore), the people said on condition of anonymity.

Debjyoti Roy
Updated26 Nov 2021, 06:07 AM IST
Harshil Mathur, co-founder and chief executive officer of payments firm Razorpay
Harshil Mathur, co-founder and chief executive officer of payments firm Razorpay

Venture capital firm TCV is in advanced talks with Razorpay to lead a new $270 million fundraising by the fintech unicorn, two people familiar with the matter said.

The Series F round of funding is likely to more than double Razorpay’s valuation to around $6.5 billion ( 48,345 crore), the people said on condition of anonymity.

TCV counts leading global tech firms such as Netflix and Airbnb among its portfolio firms. It made its first ever investment in India in March, betting on fantasy gaming platform Dream11, followed by logistics management startup FarEye in May. Some of Razorpay’s existing investors would also participate in the new fundraising, the people cited above said.

Talks are also on with other marquee global investors, the people said, adding that a portion of the funds would be used for inorganic growth opportunities.

A spokesperson for Razorpay declined to comment. TCV did not respond to an email seeking comment.

Razorpay last raised $160 million in a Series E round in April when it was valued at $3 billion. The round was led by Singapore sovereign wealth fund GIC and joined by existing investors Sequoia Capital, Ribbit Capital and Matrix Partners.

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First Published:26 Nov 2021, 06:07 AM IST
HomeCompaniesStart-upsRazorpay seeks to raise $270 million

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