IPO
Fintech unicorn Razorpay files confidential papers for $600-M IPO
Bengaluru-based fintech unicorn Razorpay has filed its draft red herring prospectus for an initial public offering (IPO) through the confidential route and is expected to raise between $500-M and $600-M through the share sale. The company has appointed Axis Capital, Kotak Mahindra Capital, JP Morgan, and Citi as investment bankers to manage the issue.Founded in 2014 by Harshil Mathur and Shashank Kumar, Razorpay provides a full-stack payments and financial services platform that includes payment acceptance, business banking, lending, and disbursal solutions.The company plans to use the proceeds to support its ongoing investments in AI-first products, financial infrastructure, and new business verticals. It has also been expanding its operations in Malaysia and Singapore and has established a team in the USA to enhance its cross-border payment infrastructure.
Between Mar 2015 and May 2022, RazorPay had attracted about $832-M from Soma Capital, Uncommon Capital, Z47, Tiger Global, DST Global, Y Combinator Continuity Fund, Peak XV Partners, Ribbit Capital, GIC, Salesforce Ventures, Alkeon Capital, Finsight Ventures, Lone Pine Capital, TCV, Moore Strategic Ventures, Lightspeed Ventures and others.For FY25, RazorPay had reported about Rs.3,783-Cr in Operating Income and about Rs.1,206-Cr in Net Loss.
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