We are delighted to announce that we have closed our Series A and Seed round with a cumulative total of $11.5 million. Our Series A was led by Tiger Global with participation from Matrix Partners.

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Our seed round was led by Matrix Partners, Y Combinator and a total of 33 angel investors including the following:

  • Snapdeal founders, Kunal Bahl & Rohit Bansal
  • Inmobi Founders, Abhay Singhal, Amit Gupta & Naveen Tewari
  • Freecharge founders, Kunal Shah & Sandeep Tandon
  • Punit Soni, Flipkart CPO
  • Bill Gajda (SVP, Global Head of Innovation, Visa)
  • Jeff Huber (SVP, GoogleX)
  • Ram Shriram, Board member and an early investor in Google
  • Justin Kan, YCombinator partner and Twitch Founder

An even longer list is available on our CrunchBase profile page.

We started Razorpay a vision of fixing the current state of payments in India. We launched in March 2015 at the Y Combinator Demo Day, and have been taking huge strides ever since. Since the beginning we have offered a robust and simple payment method, focusing on the pain points in the Indian payments industry: multiple redirects for every payment, and lack of developer-friendly APIs.

When we set out to raise capital, we looked for advisers who understood our product and could help us seize big opportunities in the space. Many of our investors are from prominent Indian startups, giving us a big advantage to navigate the waters as we shifted operations to Bangalore.

The funds we have raised will be used to scale up our team (we’re 15 and growing) and infrastructure, help with strategic forays in developing partnerships and accelerate our product roadmap. In other news, we recently open sourced all of our integrations, revamped our website design, and made a few more hires.