In addition, for the first time, Razorpay is also recognized as a Centaur by Bessemer Venture Partners. “Centaur” is a rare breed of the cloud company that has reached $100 million of annual recurring revenue.
INDIA, Bengaluru, 12th Aug 2022 – Razorpay, India’s leading full-stack Payments and Banking Platform for Businesses, has become the first Indian company to be named in 2022 Forbes Cloud 100 List, the definitive ranking of the top 100 private cloud companies in the world. Published for the sixth time by Forbes in partnership with Bessemer Venture Partners and Salesforce Ventures, Razorpay has entered the list for the second time, being listed at the #49th position for being a Financial Solutions Software (last year Razorpay ranked 57th). This places Razorpay amongst world leaders such as Canva, DataBricks, Airtable, to name a few.
The Cloud 100 list recognizes standouts in the technology category from small startups to private-equity-backed giants. A panel of 25 judges, made up of a majority of public cloud CEOs, selected and ranked the top 100 companies using a combination of quantitative and qualitative factors. The evaluation process involved four factors: estimated valuation (30%), operating metrics (20%), people and culture (15%), and market leadership (35%), which the judge panel then weighed to select, score and rank the winners. This year’s list is bigger than ever before, with a combined market capitalization of more than $100 billion greater than 2021 and headcounts larger by total, average, and median.
Excited on being featured in this prestigious list, Harshil Mathur, CEO and Co-founder, Razorpay said, “We are thrilled and humbled to be part of this honourable list featuring the World’s Top 100 Cloud Companies. It is not only a happy moment for us Razors, our customers and industry partners, but this is also a testament for us as a country to display the potential India’s Financial Software Sector has. Over the last eight years, we at Razorpay have been committed on building a company with a hyper-focus on creating more value and growth for our partner businesses. We believe if there is no growth for them, there is no growth for us. This recognition reiterates their support and assures us that we are headed in the right direction with our goals identifiably aligned with our vision. This listing has brought on additional responsibility for us which has acted as a new force of motivation.”
“We would also like to congratulate all the other disruptive companies across the globe that have made it to this list,” he added.
Razorpay recently received the Payment Aggregator license from the Reserve Bank of India, making it one of the first few companies to receive the same. In a short span of over eight years, the fintech giant has witnessed massive growth in terms of market share and mind space with their partner businesses and industry peers, achieving $80bn TPV thus far.