Razorpay is an online payment system that can access credit cards, debit cards UPI, and other popular mobile wallets
Private equity firm KKR is reportedly in talks to pick up a take in Razorpay. The US-based global investment company is exploring options to buy out shares from existing shareholders for this acquisition.
Citing unnamed sources, Livemint reported that KKR belives an investment in Razorpay would bolster its presence in the Indian fintech sector.
Founded by a group of IIT Roorkee alumni, Razorpay offers online payment modes to companies that include credit and debit cards, mobile wallets and unified payment interface (UPI). It is expected to launch more than $100 million in the primary funding round along with other investors, a source told Livemint. “The company is looking to raise a $125 million round at a valuation of around $7.8 billion (its last transaction value in December 2021)," the person requesting anonymity added.
KKR's digital platform may invest $60 million to $70 million out of its $125 million capital in buying out shares from the early-stage investors of Razorpay.
This license will enable the fintech to launch its platform for a secure exchange of consent-based financial data of consumers with financial institutions
The conversational artificial intelligence platform is also providing flexibility to its employees by extending quarterly vesting post a one-year cliff period
The South Korean pizza chain will utilise the capital to increase its footprint from 15 outlets in India currently to 100 stores by 2023
