Sequoia, GIC co-lead $160m round in Indian fintech firm Razorpay for SEA launch

India-based fintech firm Razorpay announced it has raised US$160 million in its latest round of funding, pushing the company’s valuation to US$3 billion.

More funding details

• Lead investors: Sequoia Capital and Singapore’s GIC
• Other investors: Ribbit Capital and Matrix Partners
• Stage: Series E

More company updates

• Funds raised from the financing round will be used to scale Razorpay’s business banking suite service, invest in new acquisitions including business-to-business firms, and fund the company’s expansion into international markets such as Southeast Asia.
• The new funding round gives Razorpay a total of US$366.5 million in investments.
• In a bid to further fuel its growth plans, the company is hiring over 600 employees.
• The fintech firm claims to have recorded a 40% to 45% growth every month in the last six months, with US$40 billion in total payment value.
• Currently, over 5 million businesses including the likes of Facebook, Airtel, Ola, Zomato, Swiggy, Cred, and ICICI Prudential use the company’s payment platform. It aims to hit 200 million customers by 2021.

For more coverage about the company, head here. You can also click on the link below to view the company’s key details and funding history.