Payments and business banking platform Razorpay has announced the launch of the Razorpay Venture Investment Program to empower the next generation of B2B innovators.
Instituted in collaboration with Peak XV Partners and Lightspeed, the program aims to identify and invest in over 50 visionary early-stage founders. The company will provide funding, technology support, and leadership support to B2B startups across various stages of development. The program will invest up to $1 million per startup, targeting early-stage ventures.
The Razorpay Venture Investment Program is purpose-built to support companies from pre-seed and Series A stages, across industries such as fintech, e-commerce, retail, travel, education, healthcare, logistics, hospitality, mobility, and export. Startups can apply directly through Razorpay’s website.
The Program will be spearheaded by Vishnu Acharya, the company’s Head of Strategy and Corporate Development. Acharya brings deep expertise in working closely with founders to help them scale. Under his leadership, the program aims to impact India’s B2B ecosystem significantly.
Razorpay has secured over $800 million through various funding rounds and was last valued at approximately $7.5 billion. The firm reported a 24% year-on-year (YoY) revenue increase for its Payment Gateway (PG) business to Rs 2,068 crore, despite facing a temporary hold on new merchant onboarding during the first nine months of the fiscal year. Notably, the firm’s profit after tax surged nearly 5X during the same period.
By Entrackr : Latest Posts
Source: Entrackr : Latest Posts