Y Combinator-backed, digital payments and lending platform, based in Bengaluru, Razorpay is reportedly in talks with Sequoia Capital and others, to raise about $75 million – $100 million.
This new capital will reportedly be used to aid the expansion of company’s recently launched business arm, Razorpay 2.0. The Bengaluru-based startup has raised a total of $31.5 million in funding till now. Earlier in 2018, Razorpay has raised a Series B funding round of $20 million, which was led by Tiger Global and Y Combinator along with the participation from Matrix Partners.
This expected round could value the five year-old startup at about $425 Mn – $450 Mn, an ET Tech report said.
When contacted, Razorpay has called the funding news as speculative and Sequoia Capital refused to comment on the matter.
Sequoia Capital has earlier invested in multiple fintech startups, including two other payment gateways – Mobikwik and Citrus Payment, consumer lending startups such as MoneyTap and Capital Float, NBFC lending startup Finova Capital and a point of sales machine manufacturer Pine Labs.