Funding round
Razorpay Series C
Razorpay, which works in digital payment solutions development in Adugodi, raised $75M in a Series C round announced on 18 Jun 2019, led by Ribbit, Sequoia Capital and Sequoia India. 6 firms took part, 4 of them already investors. It is Razorpay's third venture round on record; the one before was a Series B in Jan 2018.
$75M
Amount raised
Not disclosed
Post-money valuation
6
Investors
3 leads
Valuation
What this round says about the price
Razorpay did not disclose a valuation in this round. It came 17 months after Razorpay's Series B. It is 10% of the $739M Razorpay has raised in the venture rounds on record. Razorpay raised again 16 months later: a Series D round of $100M in Oct 2020, at $1.00B post-money.
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 16 Jan 2018, led by Tiger Global and Y Combinator $20M
- Series C this round 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
Ribbit, Sequoia Capital and Sequoia India led the round with 3 other firms. Ribbit, Tiger Global, Y Combinator and Matrix had backed Razorpay before.
Lead investors
- Ribbit backs 126 venture-backed companies existing investor
- Sequoia Capital backs 589 venture-backed companies new investor
- Sequoia India new investor
Also in the round
- Tiger Global backs 391 venture-backed companies existing investor
- Y Combinator backs 1,295 venture-backed companies existing investor
- Matrix backs 129 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, sales and marketing, scaling operations, acquisitions and working capital.
- Hiring
- Product development
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
13 Series C rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $100M, and this round was 75% of the median. The closest in time, other companies' Series C rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Airwallex Payment Processing & Point of Sale | 26 Mar 2019 | $100M | $1.00B | DST Global |
| Rapyd Payment Processing & Point of Sale | 1 Oct 2019 | $100M | $1.00B | Oak HC/FT |
| Payment Processing & Point of Sale | 16 Jan 2019 | $100M | not disclosed | Warburg Pincus |
| Plaid Payment Processing & Point of Sale | 11 Dec 2018 | $250M | $2.65B | Kleiner Perkins |
| Payment Processing & Point of Sale | 20 Dec 2018 | $125M | not disclosed | not named |
| Payment Processing & Point of Sale | 13 Nov 2018 | $100M | not disclosed | Elavon and National Australia Bank |
| Payment Processing & Point of Sale | 19 Nov 2018 | $27M | not disclosed | Kleiner Perkins |
| Payment Processing & Point of Sale | 5 Oct 2018 | $125M | $1.10B | Greenoaks Capital and DST Global |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Razorpay raise in its Series C round?
Razorpay raised $75M in its Series C round, announced in Jun 2019.
Who led Razorpay's Series C round?
Ribbit, Sequoia Capital and Sequoia India led it, with Tiger Global, Y Combinator and Matrix.
What was Razorpay's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Payment Processing & Point of Sale?
13 Series C rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $100M, and this round was 75% of the median.
Did Razorpay raise again after this round?
Yes: a Series D round in Oct 2020 of $100M at $1.00B post-money.