Razorpay bags $100 mn in Series D funding round led by GIC and Sequoia

Razorpay has bagged an amount of $100 million in a Series D funding round led by Singapore-based GIC and existing backer Sequoia Capital at a valuation of over $1 billion.

Other existing investors like Ribbit Capital, Tiger Global Management, Y Combinator and Matrix Partners India also participated in the round.

 “The funding comes with a major milestone of Razorpay becoming the newest unicorn in India. GIC is also a great partner at this stage of the company because they are a significant public market investor,” said Shashank Kumar, co-founder of Razorpay on the company’s blog.

Prior to this, the company had raised $75 million led by Ribbit Capital in June last year at a valuation of nearly $450 million.

Brainchild of Harshil Mathur and Shashank Kumar, six-year-old Razorpay offers payments and other financial infrastructure to help businesses manage money flow. Bulk of the Bengaluru-based company’s revenue comes from online payment gateway and it counts Facebook, Google, Jio, Zerodha, OkCredit and Hotstar, among others, as its major clients.