Razorpay acquires majority stake in Malaysian fintech co. Curlec

Payments and digital banking platform Razorpay has acquired a majority stake in Kuala Lumpur-based fintech Curlec in its first international purchase. The fintech unicorn has acquired a majority stake in Curlec at a valuation of USD 20 million and the balance stake acquisition will be completed in the next year and a half. Razorpay will make further investments to scale up Curlec's presence. Curlec is a business-to-business payment solution provider. The company offers recurring and subscription-based payment collection for businesses, besides billing, payouts and other payments solutions.