December 5, 2019
RazorpayX, the neo-banking platform, won the ‘Most Innovative Fintech Product’
Harshil Mathur, Co-founder and CEO honoured as the ‘Fintech Leader of the Year’
Delivering innovation that empowers businesses, Razorpay, the neo-banking platform, successfully added three more accolades to its bouquet at the India FinTech Awards (IFTA) 2019, organised by India FinTech Forum in association with National Payments Corporation of India (NPCI). The company won awards for the ‘Most Innovative Payment Startup’ and ‘Most Innovative Fintech Product’ for its neo-banking product, RazorpayX. The CEO & Co-founder, Harshil Mathur was also honoured at the event as the ‘Fintech Leader of the Year’.
IFTA is a platform which celebrates and recognises the leaders and organizations for their contribution in the payments and technology domain. The three awards are a testimony of Razorpay’s efforts towards developing unique and scalable solutions, empowering the payment and banking infrastructure to evolve from being transactional to transformational and impactful.
Harshil Mathur, Co-founder & CEO of Razorpay
Winning a hatrick at the event, CEO and Co-founder of Razorpay, Harshil Mathur, said, “We are truly humbled and excited about these recognitions. Razorpay has been charting an exponential growth in the last couple of years and these awards are indicative that our efforts are in the right direction, inspiring us to take excellence to new heights.”
He added, “Our strength lies in our technology and our team and this success is a sign of the faith that our partner businesses have in us. We look forward to continue creating valuable and differentiated products for businesses to solve for challenges in this swiftly evolving business landscape, so that we are all ready for tomorrow.”
Having evolved from being a single product to a multi-product company, Razorpay has achieved 500% growth in the last one year and currently powers digital payments for 8,00,000 businesses. The company also recently announced the launch of corporate credit cards, online payment support for freelancers and homepreneurs, and the acquisition of the payroll company, Opfin. The company also aims to double headcount by next year and expects a 5x growth in its revenue by the end of the next fiscal year. Razorpay has raised funding over $105 million until now, led by Tiger Global, Sequoia India, Y Combinator and Ribbit Capital, among others.
Razorpay, a neo-banking company, helps Indian businesses with comprehensive and innovative solutions built over robust technology to address the entire length and breadth of the payment journey for any business. Established in 2014, the company provides technology payment solutions to over 8,00,000 businesses. Founded by alumni of IIT Roorkee, Shashank Kumar and Harshil Mathur, Razorpay is the second Indian company to be a part of Silicon Valley’s largest tech accelerator, Y Combinator. Marquee investors such as Tiger Global, Matrix Partners, Y Combinator, Sequoia India, Ribbit Capital and MasterCard have invested a total of $106.5 million through Series A, B and C funding. Around 33 angel investors have invested in Razorpay’s mission to simplify payments. Known to be a developer oriented payment gateway, Razorpay focuses on essentials such as 24×7 support, one-line integration code and superior checkout experiences.