Resurfacing a June 2019 move: Razorpay raised $75M Series C led by Ribbit Capital and Sequoia India
Payments provider Razorpay secured $75M to scale its neo-banking (Razorpay X) and lending (Razorpay Capital) arms. The Bengaluru firm served 350,000+ merchants including Swiggy, Zomato and BookMyShow, and was targeting 450,000 by 2020 with a $300M loan disbursal run-rate.
Razorpay raised $75M Series C led by Ribbit Capital and Sequoia India to scale neo-banking (Razorpay X) and lending (Razorpay Capital) arms, serving 350,000+ Indian merchants including Swiggy, Zomato, and BookMyShow.
Why this matters
The 2019 raise foreshadowed Razorpay's expansion beyond payments into banking and lending, later reflected in offline moves like the BillMe acquisition and plans to redomicile to India ahead of a domestic IPO.
Retail-company signals accelerating at +888600% QoQ.