In today’s fast-paced digital world, online transactions are an essential part of our daily lives. The ease and convenience of digital transactions have revolutionized the way we make payments, and online payment gateways have become an integral part of the fintech industry.
Razorpay is one such online payment platform that has become a household name in India’s fintech industry. Founded in 2014, the company has come a long way to become one of India’s most successful fintech unicorns.
Razorpay was founded by Harshil Mathur and Shashank Kumar, who had a vision to make online transactions simple and secure.
A journey full of hiccups
For Mathur, building Razorpay into a unicorn startup was a challenging journey.
Harshil Mathur, the current CEO of Razorpay, hails from Jaipur and attended Seedling Public School for his schooling. He earned a degree in software engineering from the Indian Institute of Technology Roorkee in 2013.
While in college, he was involved with SDSLabs, the Hobbies Club, and ASME. In 2015, Mathur joined the YCombinator W15 Batch, where he was mentored by Paul Buchheit and Dalton Caldwell.
After completing his degree, Mathur briefly worked for Schlumberger before leaving the job in February 2014 to explore business opportunities. He then started working on Razorpay with his college friend Shashank Kumar, and together they built a successful platform that today processes over 30% of all online payments in India.
Despite facing numerous rejections from investors, totalling over 100, he persevered and worked tirelessly to make Razorpay a successful company. Finally, after several rounds of funding, Razorpay became a unicorn in October 2021, valued at $1 billion.
Razorpay’s success has been built on its simple and user-friendly interface. The company provides a secure and easy-to-use payment gateway that has enabled millions of people to transact online with ease and security.
The platform is designed to make online transactions as seamless as possible, enabling customers to complete transactions with just a few clicks.
The company’s success has also helped to boost India’s startup ecosystem and encouraged many young entrepreneurs to follow in Mathur’s footsteps.
Razorpay’s journey to becoming a unicorn was not an easy one. The company faced numerous rejections from investors, and Mathur had to work tirelessly to make his vision a reality. But his perseverance paid off, and Razorpay is now one of the most successful fintech companies in India.
According to news reports, in October 2021, Razorpay secured $100 million in a funding round sponsored by the sovereign wealth fund GIC, which valued the company at $1 billion.
In mid-April 2022, GIC co-led another funding round for $160 million, valuing Razorpay at $3 billion.
In conclusion, Harshil Mathur’s journey with Razorpay is a testament to the power of perseverance and hard work. Despite facing numerous rejections, he did not give up on his dream, and today Razorpay is one of the most successful fintech companies in India.
With its simple and user-friendly interface, Razorpay has become a household name in India’s fintech industry and has enabled millions of people to transact online with ease and security.
1. What does Razorpay do?
With Razorpay, you can take online payments from clients on desktop, mobile, iOS, and Android websites. Furthermore, you may accept payments via chatbots, messenger, whatsapp, email, and SMS by utilizing Razorpay Payment Links.
2. Who is the CEO of Razorpay?
Harshil Mathur co-founded Razorpay Software Private Limited in May 2014 and serves as its Chief Executive Officer.
3. What are the revenue figures of Razorpay?
According to Razorpay’s standalone annual report filed with the Registrar of Companies (RoC), its operating revenue was Rs 841.2 crore in FY21 and increased by 76.1% to Rs 1,481.2 crore in FY22.