Razorpay’s valuation rises to $7.5 billion after $375-million funding

Razorpay has raised $375 million (Rs 2,850 crore) in a new funding round led by US-based investors TCV, Lone Pine Capital and Alkeon Capital, after which its valuation has grown to $7.5 billion—a jump of two-and-a-half times in eight months.

The Bengaluru-based payments gateway platform had in April this year raised $160 million at a post-money valuation of $3 billion. The company has seen a seven-fold increase in its valuation in a little over a year since it turned unicorn.

ET reported in its November 10 edition that TCV, an investor in Netflix and Airbnb, was in talks with Razorpay to participate in the new funding round.

Razorpay has been one of the major beneficiaries of the pandemic-induced acceleration in digital payments, as a majority of its merchants clocked fast-paced growth since the virus outbreak in the country.