Private Equity

PE Fund Investments

Razorpay raises $375-M from Lone Pine Capital, Alkeon, TCV at $7.5 B valuation

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Bengaluru-based business-focused payment gateway and neo-banking unicorn Razorpay has raised USD 375 million in its Series F round led by Lone Pine Capital, Alkeon Capital and TCV at a valuation of USD 7.5 Billion. This is the second round of funding for the company this year which raised USD 160 million in Series F led by Singapore's sovereign wealth fund GIC and Sequoia India in April, at USD 3 Billion valuation. The fintech firm has raised a total of $741.5 million since its inception seven years ago. The proceeds will be invested towards building a full-stack financial solutions platform and exploring inorganic growth opportunities through investments and acquisitions. To date, it has made three acquisitions - Tera Finlabs, Thirdwatch and Opfin. The Harshil Mathur-led firm also claimed USD 60 Billion TPV (total payment volume) as of early December 2021 and plans to grow this to USD 90 Billion by the end of this year. The company had reported a total income of INR 509 crore in FY20 and also turned cash flow positive at the operational level.