Nowadays internet and the smartphones overwhelmed the world, it opened numerous ways for various sectors to pioneer the advancement of a more contemporary world. One of these industries is the online payment industry. In the earlier times when cash transfer was an intricate and hard thing. But nowadays online payment industry is so easy. And whenever we talk about online payment gateways, one of the primary names that enter our brain is that of Razorpay.

Razorpay is an Online Payment Solution in India that permits the business to accept payments or installments from clients and furthermore engages firms to computerize payouts to workers and sellers. Razorpay is arising as perhaps the best player in the Indian fintech industry.

By using Razorpay little, medium or big businesses can undoubtedly accept payments in various installment modes like UPI, Debit cards, Credit cards, or online wallets, etc.

Razorpay Company Profile

Razorpay logo

Company Name Razorpay
Legal Name Razorpay, Inc.
Parent Company Bigo Technology Pte. Ltd.
Sector Fintech, Online Payment, Finance
Headquarter Bangalore, Karnataka, India
Headquater Region Asia-Pacific (APAC)
Founded Date 2014
CEO Harshil Mathur
Founders Harshil Mathur, Shashank Kumar
Total Funding $366.6 Million
Monthly Visitors 12,180,999 (SemRush)
Official Website

About Razorpay

Razorpay is the only payments solution in India that allows businesses to accept, process, and disburse payments with its product suite. Razorpay supports over 100+ payment modes including Credit and Debit Cards (Visa, Mastercard, Rupay, AMEX, Diners), Net Banking from top 50+ banks, UPI (Web Collect & UPI Intent), Online Wallets, EMI, and NEFT/RTGS payments.

Razorpay Founder

Harshil Mathur and Shashank Kumar are the founders of Razorpay.

razorpay founders
Harshil Mathur & Shashank Kumar

Harshil Mathur is the Co-founder of Razorpay. A few years prior, Harshil Mathur quit a well-paying position as a Schlumberger field engineer and collaborated with his university colleague named Shashank Kumar to set up a payment passage for independent ventures confronting challenges handling orders via the internet.

Shashank Kumar is the founder of Razorpay. He is also an IIT Roorkee student. Both Harshil and Shashank quit their well-paying jobs together. Their beginning up was hatched at Start-up Oasis in Jaipur, set up together by the Rajasthan Industrial Investment Corporation (RIICO) and IIM Ahmedabad’s Center for Innovation Incubation and Entrepreneurship (CIIE).

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Razorpay Business Model

Razorpay is an Online Payment Solution in India permitting organizations to transact, process, and dispense payments for any services or products. It gives these business elements to get to all the cutting edge payment modes like credit and debit cards, net banking, UPI, and famous wallets in the country specifically Paytm, Mobikwik, JioMoney, Airtel Money, FreeCharge, etc.

Razorpay’s business model is mostly dependent on the commission basis. The company charges 0.25 to 0.5 percent expenses on each membership plan exchange made through their gateway.

Be that as it may, the Razorpay 2.0 item suite contributes around 30% of the company’s total income generation. Through the arrangement of form 2.0, Razorpay has provoked numerous revenue streams heading ahead. The organization charges however much two percent on each exchange completed through their payment gateway.

Razorpay Revenue

The company offers a framework for merchants to accept, process, and dispense online payment through its site or application. It means to bring in cash exchanges and the executives bother free with the goal that new businesses can zero in on different parts of development.

Today, Razorpay says that more than 8 million organizations use Razorpay and adds that it saw huge development in 2020 because of the COVID-19 advanced transformation. Razorpay additionally says that it handled $40 billion (generally INR 3,00,000 crores) in all payments volume, and revenue grew by 35 to 45 percent month-on-month all through 2020.

The company’s revenue developed by an enormous 163% to arrive at INR 519.42 Crore, its costs additionally developed at a comparative speed to arrive at INR 525.41 Crore in the fiscal year.

Razorpay Funding

Razorpay has raised a total funding of $366.6 Million.

It has raised $160 million from Sequoia India and Singapore-based GIC in a funding round that has trebled the valuation of the online payment company to $3 billion in under a half year.

razorpay funding
© Razorpay

Along with that, Razorpay had joined the unicorn club of startups with over a billion-dollar valuation last October when it raised $100 million at a valuation of simply more than $1 billion in a round co-drove by Singapore’s sovereign abundance store GIC and Sequoia Capital.

Razorpay Growth

The company fuels in excess of 200,000 little and huge businesses in India and enables payments for around 5 million traders which likewise incorporate Airtel, Ola, Zomato, BookMyShow, etc, conversely, with 1 million of every 2019.

Razorpay professes to be developing at 20% to 30% consistently and furthermore wanting to increase in banking and loaning, and the company is also checking out inorganic ways of developing. Since many individuals moved to their hometown, the commitment of Tier 2 and Tier 3 urban communities expanded to 55% in 2020 against 49% in 2019.

Talking about the growth rate, Harshil Mathur, Co-founder of Razorpay, said “There are three short or medium-term objectives as a result of which we have raised the subsidizing. Over the most recent half-year, we have seen a great foothold on our banking and loaning services. Notwithstanding being genuinely new items, RazorpayX and Razorpay Capital have scaled very well over the most recent half-year. In this way, the principal utilization of the financing sum is conveying assets in making extra products.”

Razorpay Awards

  • In the year 2019, IFTA declared Razorpay as the “Most Innovative Payments Startup” and came to Y-Combinator’s list of top 100 organizations too.
  • The company won awards for the ‘Most Innovative Payment Start-up’ and ‘Most Innovative Fintech Product’ for its neo-banking product, RazorpayX.
  • Razorpay won honors for the ‘Most Innovative Fintech Startup in India’ for its neo-banking product, in the same year.
  • In the year 2018, Razorpay was awarded by LinkedIn as India’s 25 Most Sought-after Companies to Work for.

Razorpay Competitors

The significant competitors of Razorpay are Bill Desk, Instamojo, PayUBiz, CCAvenue, Zaakpay, and many more.

The online payments industry is genuinely jam-packed with regards to adventures working in the sector.


There are different payment gateway platforms in India that permit clients to make or accept payment on the web and Razorpay is one of them. Online shopping turned into the new normal, the internet-based organizations gave the real boost to the business of Razorpay. Along with that, the innovative strategies of the founding team made a unicorn startup of India.

So, what do you think? Do comment your thoughts and ideas below, we will surely check it.

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