Funding round
Razorpay Series B
Razorpay, which works in digital payment solutions development in Adugodi, raised $20M in a Series B round announced on 16 Jan 2018, led by Tiger Global and Y Combinator. 3 firms took part. It is Razorpay's second venture round on record; the one before was a Series A in Oct 2015.
$20M
Amount raised
Not disclosed
Post-money valuation
3
Investors
2 leads
Valuation
What this round says about the price
Razorpay did not disclose a valuation in this round. It came 27 months after Razorpay's Series A. It is 2.7% of the $739M Razorpay has raised in the venture rounds on record. Razorpay raised again 17 months later: a Series C round of $75M in Jun 2019. Its next priced round, a Series D in Oct 2020, valued it at $1.00B.
Razorpay's funding rounds
Razorpay has 6 venture rounds on record. This one is highlighted.
- Series A 27 Oct 2015, led by Tiger Global $9.0M
- Series B this round 16 Jan 2018, led by Tiger Global and Y Combinator $20M
- Series C 18 Jun 2019, led by Ribbit, Sequoia Capital and Sequoia India $75M
- Series D 11 Oct 2020, led by Sequoia India and GIC $100M$1.00B post-money
- Series E 19 Apr 2021, led by Sequoia Capital, GIC and Sequoia Capital India $160M$3.00B post-money
- Series F 20 Dec 2021, led by Lone Pine Capital, Alkeon and Technology Crossover Ventures $375M$7.50B post-money
Investors
Who put money in
Tiger Global and Y Combinator led the round with 1 other firm.
Lead investors
- Tiger Global
- Y Combinator backs 1,295 venture-backed companies
Also in the round
- Matrix Partners
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion, sales and marketing, scaling operations and working capital.
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
25 Series B rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $17M, and this round was 1.2 times the median. The closest in time, other companies' Series B rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 1 Jan 2018 | $13M | not disclosed | not named |
| Payment Processing & Point of Sale | 6 Dec 2017 | $30M | not disclosed | Aquiline Capital Partners |
| Payment Processing & Point of Sale | 22 Feb 2018 | $22M | not disclosed | IFC and TheVentureCity |
| Payment Processing & Point of Sale | 14 Dec 2017 | $13M | not disclosed | Notion Capital |
| Payment Processing & Point of Sale | 18 Apr 2018 | $4.5M | not disclosed | LUN Partners Group |
| Payment Processing & Point of Sale | 11 Sep 2017 | $5.2M | not disclosed | not named |
| Payment Processing & Point of Sale | 19 Jun 2018 | $50M | $220M | not named |
| Payment Processing & Point of Sale | 18 Jun 2018 | $18M | not disclosed | not named |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Razorpay raise in its Series B round?
Razorpay raised $20M in its Series B round, announced in Jan 2018.
Who led Razorpay's Series B round?
Tiger Global and Y Combinator led it, with Matrix Partners.
What was Razorpay's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Payment Processing & Point of Sale?
25 Series B rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $17M, and this round was 1.2 times the median.
Did Razorpay raise again after this round?
Yes: a Series C round in Jun 2019 of $75M.