Funding round
Razorpay Series D
Razorpay, which works in digital payment solutions development in Adugodi, raised $100M in a Series D round announced on 11 Oct 2020, led by Sequoia India and GIC, at a $1.00B post-money valuation. 6 firms took part, 5 of them already investors. It is Razorpay's fourth venture round on record; the one before was a Series C in Jun 2019.
$100M
Amount raised
$1.00B
Post-money valuation
$900M pre-money
6
Investors
2 leads
10%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Razorpay at $1.00B after the new money. The $100M bought investors about 10% of the company. It came 16 months after Razorpay's Series C. It is 14% of the $739M Razorpay has raised in the venture rounds on record. Razorpay raised again 6 months later: a Series E round of $160M in Apr 2021, at $3.00B 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 18 Jun 2019, led by Ribbit, Sequoia Capital and Sequoia India $75M
- Series D this round 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
Sequoia India and GIC led the round with 4 other firms. Sequoia India, Ribbit, Tiger Global and Y Combinator and 1 more had backed Razorpay before.
Lead investors
- Sequoia India existing investor
- GIC backs 98 venture-backed companies new investor
Also in the round
- Ribbit backs 126 venture-backed companies existing investor
- 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 product development, geographic expansion, scaling operations and working capital.
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
18 Series D rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $132M, and this round was 76% of the median. The closest in time, other companies' Series D rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Rapyd Payment Processing & Point of Sale | 13 Jan 2021 | $300M | $2.50B | Coatue |
| Payment Processing & Point of Sale | 15 Jan 2021 | $100M | not disclosed | Warburg Pincus and Goodwater Capital |
| BharatPe Payment Processing & Point of Sale | 12 Feb 2021 | $108M | $900M | Coatue |
| Payment Processing & Point of Sale | 31 Mar 2021 | $120M | not disclosed | JS Capital Management LLC and Soros Capital Management LLC |
| Airwallex Payment Processing & Point of Sale | 23 Mar 2021 | $100M | $2.60B | Greenoaks |
| Payment Processing & Point of Sale | 1 Apr 2021 | $425M | $7.40B | Tiger Global |
| Plaid Payment Processing & Point of Sale | 7 Apr 2021 | $425M | $13.40B | Altimeter and Silver Lake |
| Greenlight Payment Processing & Point of Sale | 27 Apr 2021 | $260M | $2.30B | Andreessen Horowitz |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Razorpay raise in its Series D round?
Razorpay raised $100M in its Series D round, announced in Oct 2020.
Who led Razorpay's Series D round?
Sequoia India and GIC led it, with Ribbit, Tiger Global, Y Combinator and Matrix.
What was Razorpay's valuation at the Series D round?
$1.00B post-money ($900M pre-money).
How does it compare with other Series D rounds in Payment Processing & Point of Sale?
18 Series D rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $132M, and this round was 76% of the median.
Did Razorpay raise again after this round?
Yes: a Series E round in Apr 2021 of $160M at $3.00B post-money.