Razorpay raises $160 mn, firm now valued at $3 bn

Payment services firm Razorpay raises $160 mnFinancial services firm Razorpay on Monday said it has raised $160 million in a Series E funding round, co-led by Sequoia Capital and GIC, that values the

Financial services firm Razorpay on Monday said it has raised $160 million in a Series E funding round, co-led by Sequoia Capital and GIC, that values the firm at $3 billion. The funding round also saw participation from Ribbit Capital and Matrix Partners. Razorpay plans to infuse funds into scaling up its business banking suite, new acquisitions and global expansion in nations such as South-East Asian countries, the company said in a statement. “We are delighted about reaching a significant milestone today,” said Harshil Mathur, CEO and co-founder. “We’re really happy to have continued faith and encouragement from GIC, Sequoia Capital India, and our other investors.” The company added that it is in the process of hiring more than 600 employees to fuel its growth plans.