Payment Gateway Solution Razorpay Secures Investment From MasterCard

Funding Rounds

▤ Summary

Razorpay who is one of the few Indian startups to make it to Y Combinator’s accelerator program has also secured $9 Mn from Tiger Global in Series A and Matrix Partners along with multiple angel investors in the seed round. The program also encourages startups to build on top of Mastercard’s current tech solutions – a smart move for the financial services giant. “Mastercard has got expertise around tools and technologies that will be helpful for us to make payments more seamless,” says co-founder Harshil Mathur. As our product focuses on reducing the failure rate of transaction, this will help us bring down the number of hops. The work that Razorpay is doing in India complements existing Master-Card solutions that are helping merchants of all sizes and grow their business,” said Stephane Wyper, global lead for MasterCard Start Path programme.

$ Funding

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Amount $100.0K Total raised
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Date July 1, 2016 Announcement date
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Investors - Lead investors
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Company http://www.razorpay.com Funded company

▥ Classifications

industries
Fintech & Banking
applications
AI & Machine learning

◇ AskAI Classifications

Labels
Payment Processing Software Fintech SaaS Business Banking Software

▦ Linked Companies

Razorpay
$100M to $250M