June 19, 2024

IPO News

Razorpay Considers Going Public in 2 or 3 Years

Bangalore-based fintech firm Razorpay announced that the company plans to go public within the next 2 or 3 years.

Shashank Kumar and Harshil Mathur, Razorpay’s founders, said that despite the company’s 100% annual revenue growth, it does not need any additional capital to go public.

Currently, the company has a valuation of $7.5 billion and has successfully reached its Gross Transaction Value goal of USD 90 billion for 2022. Despite other online businesses witnessing a slowdown, Razorpay has hit a $100 billion milestone.

The company is also making inroads into offline payments with its recent acquisition of Ezetap earlier this year.

Despite a slowdown in the tech world, Mathur, Razorpay’s CEO, says Indian consumers are spending more, driving growth in digital payments in education and travel.

 

The company wants to raise an IPO with its offline, credit payments, and neo-banking.

According to Mathur, fintech and B2B payments are slightly complicated ecosystems that require proof to prove they connect.

Razorpay also has plans to move its headquarters. The company’s parent company is currently operating from the US.

In response to a question about the company’s high valuation amid a drop in startup valuations, he said the company is sustainable, allowing it to remain independent.

The company’s CEO further added that their valuation is neither a cause for concern nor celebration because they are not solely dependent on fund infusions.

World fintech news provides insightful analyses of the financial industry and keeps you up-to-date with the latest developments in fintech. To read more news and stories about fintech, visit https://worldfintechnews.com/.

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