Payments Startup Razorpay’s Valuation Trebles In Six Months To $3 Billion; Raises Funds From Sequoia, GIC

Unicorn fintech and payments startup Razorpay has raised $160 million in a round led by Sequoia India and Singapore based GIC, trebling its valuation to a whopping $3 billion in less than six months, reports Economic Times.

The company had last raised $100 million at a billion-dollar valuation last year in October in a round that was also co-led by Sequoia India and GIC. Thus, the surge in its valuation to $3 billion in a matter of six months makes the company one of the fastest ones to see such a meteoric rise.

Meanwhile, it should be noted though that other Indian fintech startups like Cred, Pine Labs, and Groww have also witnessed a rapid and significant surge in their valuations in their recent fundraising rounds.

It should be noted that GIS is the Singaporean sovereign wealth fund.