The programme goals to speculate as much as $1 Mn in 10-15 early stage B2B startups yearly, with Razorpay, Peak XV and Lightspeed as equal funding companions
In addition to funding, the chosen startups will get entry to Razorpay’s tech stack, sandbox environments, and integration assist with its tech infrastructure
Razorpay’s web revenue jumped 365% to INR 33.5 Cr in FY24 from INR 7.2 Cr within the earlier yr
Funds large Razorpay
has partnered VC companies Peak XV Companions and Lightspeed to launch a enterprise funding programme focusing on early stage B2B startups throughout sectors like fintech, ecommerce, retail, healthcare, logistics, amongst others.
The Bengaluru-based fintech unicorn, beneath the ‘Razorpay Enterprise Funding Program’, goals to speculate as much as $1 Mn in 10-15 pre-seed to Collection A startups yearly.
“Constructing a startup, notably within the B2B house, is a frightening problem. Having skilled it first hand and witnessing founders throughout industries face this each day, we consider the assist system should transcend simply capital,” Harshil Mathur, cofounder and CEO of Razorpay, stated.
Peak XV Companions and Lightspeed might be equal funding companions within the programme, Mathur instructed Inc42, including that they’d be co-investing with Razorpay within the chosen startups.
The programme might be spearheaded by Vishnu Acharya, head of technique and company improvement at Razorpay.
In addition to funding, the chosen startups will get entry to Razorpay’s API stack, sandbox environments, and integration assist with the corporate’s tech infrastructure. The programme additionally contains one-on-one mentorship from Razorpay’s management staff and entry to its Rize neighborhood of greater than 3,000 founders.
Based in 2014 by Shashank Kumar and Mathur, Razorpay has developed from a funds platform to an omnichannel funds and banking platform. It has raised a complete funding of over $740 Mn from buyers like GIC, Tiger International, and Lightspeed Ventures.
Razorpay reported a 365% leap in revenue to INR 33.5 Cr in FY24 from INR 7.2 Cr within the earlier yr. Working income rose 9% year-on-year to INR 2,475 Cr, with 83% coming from cost aggregation providers.
Razorpay has beforehand backed startups like Shiprocket, HostBooks, Inai, and GetVantage.
The announcement of the funding programme comes at a time when the Indian startup ecosystem is displaying indicators of funding revival.
Amid the rising variety of startups within the nation, numerous corporates and profitable entrepreneurs have been backing Indian founders.
Final yr, Panasonic partnered with 100X.VC to launch Panasonic Ignition, focusing on power administration startups with an preliminary corpus of $55 Mn. Equally, Zerodha cofounder Nikhil Kamath’s WTFund, in partnership with UnboxingBLR, not too long ago launched a city-focused problem to again Bengaluru-based innovators.