Delivering innovation that empowers businesses, Razorpay, the neo-banking platform, successfully added three more accolades to its bouquet at the India FinTech Awards (IFTA) 2019, organised by India FinTech Forum in association with National Payments Corporation of India (NPCI). The company won awards for the ‘Most Innovative Payment Startup’ and ‘Most Innovative Fintech Product’ for its neo-banking product, RazorpayX. The CEO & Co-founder, Harshil Mathur was also honoured at the event as the ‘Fintech Leader of the Year’.
IFTA is a platform which celebrates and recognises the leaders and organizations for their contribution in the payments and technology domain. The three awards are a testimony of Razorpay’s efforts towards developing unique and scalable solutions, empowering the payment and banking infrastructure to evolve from being transactional to transformational and impactful.
Winning a hatrick at the event, CEO and Co-founder of Razorpay, Harshil Mathur, said, “We are truly humbled and excited about these recognitions. Razorpay has been charting an exponential growth in the last couple of years and these awards are indicative that our efforts are in the right direction, inspiring us to take excellence to new heights.”
He added, “Our strength lies in our technology and our team and this success is a sign of the faith that our partner businesses have in us. We look forward to continue creating valuable and differentiated products for businesses to solve for challenges in this swiftly evolving business landscape, so that we are all ready for tomorrow.”
Having evolved from being a single product to a multi-product company, Razorpay has achieved 500% growth in the last one year and currently powers digital payments for 8,00,000 businesses. The company also recently announced the launch of corporate credit cards, online payment support for freelancers and homepreneurs, and the acquisition of the payroll company, Opfin. The company also aims to double headcount by next year and expects a 5x growth in its revenue by the end of the next fiscal year. Razorpay has raised funding over $105 million until now, led by Tiger Global, Sequoia India, Y Combinator and Ribbit Capital, among others.