Indian FinTech Razorpay is now valued at over $1bn following its latest funding.
In Brief:
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The Series D round was led by GIC.
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It also included Sequoia, Ribbit Capital, Tiger Global, Y-Combinator and Matrix Partners.
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Razorpay offers flexible options for businesses to accept payments, from links to QR codes.
What does this mean?
In a blog post, the company has praised its people and culture of innovation for the achievement. The company is committed to serving businesses of all size, from local SMEs to global brands like Facebook. However, it acknowledges that “there’s a long way to go” as online payments only account for 3% of Indian economy thus far.
