Funding round
Razorpay Series E
Razorpay, which works in digital payment solutions development in Adugodi, raised $160M in a Series E round announced on 19 Apr 2021, led by Sequoia Capital, GIC and Sequoia Capital India, at a $3.00B post-money valuation. 5 firms took part, 5 of them already investors. It is Razorpay's fifth venture round on record; the one before was a Series D in Oct 2020.
$160M
Amount raised
$3.00B
Post-money valuation
$2.84B pre-money
5
Investors
3 leads
3.0x
Step-up from the Series D
$1.00B in Oct 2020
5.3%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Razorpay at $3.00B after the new money, 3.0 times the $1.00B of its Series D (Oct 2020). The $160M bought investors about 5.3% of the company. It came 6 months after Razorpay's Series D. It is 22% of the $739M Razorpay has raised in the venture rounds on record. Razorpay raised again 8 months later: a Series F round of $375M in Dec 2021, at $7.50B 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 11 Oct 2020, led by Sequoia India and GIC $100M$1.00B post-money
- Series E this round 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 Capital, GIC and Sequoia Capital India led the round with 2 other firms. Sequoia Capital, GIC, Ribbit and Matrix and 1 more had backed Razorpay before.
Lead investors
- Sequoia Capital backs 589 venture-backed companies existing investor
- GIC backs 98 venture-backed companies existing investor
- Sequoia Capital India existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
7 Series E rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $300M, and this round was 53% of the median. The closest in time, other companies' Series E rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| BharatPe Payment Processing & Point of Sale | 4 Aug 2021 | $370M | $2.85B | Tiger Global |
| Rapyd Payment Processing & Point of Sale | 3 Aug 2021 | $300M | $8.75B | Target Global |
| SpotOn Payment Processing & Point of Sale | 13 Sep 2021 | $300M | $3.15B | Andreessen Horowitz |
| CRED Payment Processing & Point of Sale | 18 Oct 2021 | $251M | $4.01B | Tiger Global and Alpha Wave Global |
| Tipalti Payment Processing & Point of Sale | 6 Oct 2020 | $150M | $2.00B | Durable Capital Partners |
| Payment Processing & Point of Sale | 21 Dec 2021 | $200M | $2.00B | Mizuho |
| Bolt Payment Processing & Point of Sale | 14 Jan 2022 | $355M | $11.00B | BlackRock |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Razorpay raise in its Series E round?
Razorpay raised $160M in its Series E round, announced in Apr 2021.
Who led Razorpay's Series E round?
Sequoia Capital, GIC and Sequoia Capital India led it, with Ribbit and Matrix.
What was Razorpay's valuation at the Series E round?
$3.00B post-money ($2.84B pre-money).
How does it compare with other Series E rounds in Payment Processing & Point of Sale?
7 Series E rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $300M, and this round was 53% of the median.
Did Razorpay raise again after this round?
Yes: a Series F round in Dec 2021 of $375M at $7.50B post-money.