Bangalore-headquartered Razorpay, one of a handful of Indian fintech startups that has demonstrated accelerated growth in recent years, has joined the coveted unicorn club after raising $100 million in a new financing round, the payments processing startup said on Monday.

Razor Pay recently launched a collateral-free credit line ‘Cash Advance’ for businesses through third-party lenders. Razorpay now offers loans in the range of Rs 50,000 to Rs 10 lakh without any paperwork and aims to disburse a total credit worth Rs 100 crore by the end of this year.

Razorpay Payment Gateway: Your digital payment partner Carrying forward the mission of Cashless and Digital India, Razorpay is India’s first full-stack financial solutions provider. We aim to enable all businesses, enterprises, entrepreneurs, and freelancers to adopt digital payment methods to grow their business. Razorpay Payment Gateway is our flagship product, providing holistic payment solutions to enterprises, big and small. A payment gateway is like a portal connecting your bank account to the platform where your transactions occur. This third-party addition is the simplest way for a business to collect online payments via their website. If your venture has a website or an app, then Razorpay Payment Gateway should be your go-to option. With Razorpay Payment Gateway, you can accept end-to-end payments easily and seamlessly. Some of the key features and benefits include: Accept all payment modes: A strong supporter of digital payments, we provide multiple options like Domestic and International Credit & Debit cards, EMIs, PayLater, Netbanking, UPI, and mobile wallets Flash Checkout: Thanks to the option of saving cards, your customer no longer needs to type in the card details every time – saving time and increasing sales Powerful Razorpay Dashboard: Dashboard provides efficient monitoring by way of reports, detailed statistics on refunds and settlements, and much more Protected and Secured: PCI DSS Level 1 compliant along with frequent third-party audits and a dedicated internal security team to make sure your data is always safe Run Offers Easily: Razorpay dashboard allows you to run any and every promotional offer at the click of a button

Razorpay Revenue Crosses INR 500 Cr Mark In FY20 After 163% Growth Even though Razorpay’s loss increased by 89% in FY20, this is by no means a worrying figure considering the size of the business, as well as the digital payments opportunity in India Razorpay raised funds in October 2020 when it also achieved a unicorn valuation and said that it would be hiring massively in the year to come The growth rate for revenue has improved significantly from FY19 when Razorpay’s total income had grown 114% YoY from FY18 Payments gateway major Razorpay saw its losses almost double in FY20, ended March 31, 2020, as its advertising and promotional expenses surged by nearly 5x and employee expenses more than doubled from the previous year. While the company’s revenue grew by a massive 163% to reach INR 519.42 Cr, its expenses also grew at a similar pace to reach INR 525.41 Cr in the fiscal. In FY19, Razorpay had spent INR 202.15 Cr to earn INR 197.5 Cr, and the growth in revenue highlights just how quickly the digital payments ecosystem has grown in India. Overall, even though the company’s loss increased by 89% in FY20 to INR 6.15 Cr, this is by no means a worrying figure considering the size of the business, as well as the untapped digital payments opportunity in India.

Scoop: Razorpay looks at $2 billion valuation in new funding roundFintech startup Razorpay is in talks with its existing investor Singapore's sovereign investment fund GIC and others to raise $150-200 million in a financing round that could see its valuation nearly double to $2 billion in less than six months

Magicbricks ties up with Razorpay and HDFC Bank for credit card rent pay eyeing on residential rental market

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