1947 Tech 🇮🇳: 183
The Indian tech ecosystem is on fire!
1. Indian fintech giant Razorpay valued at $7.5 billion in $375 million funding
Razorpay has more than doubled its valuation to $7.5 billion from $3 billion in April as one of India’s largest fintech giants demonstrates fast growth and aggressively broadens its product offerings.
The Bangalore-headquartered startup, which is a market leader in payments processing in India, said Sunday evening it has raised $375 million in its Series F financing round. The new round, which brings more capital to the startup than all its other previous financings put together, was co-led by Lone Pine Capital, Alkeon Capital and TCV.
Existing investors Tiger Global, Sequoia Capital India, GIC and Y Combinator also participated in the new round, said Razorpay, which has raised over $740 million over the past seven years.
Razorpay accepts, processes for — and disburses money to — small businesses and enterprises. It also operates a neobanking platform, through which it offers credit cards and working capital to businesses. It also offers an international payments gateway that supports over 90 currencies.
2. Cars24 raises $400 mn at valuation of $3.3 bn
Softbank-backed used-cars marketplace, Cars24, on Monday said that it has raised $400 million as a part of its latest funding round which includes $300 million Series G equity raise, along with $100 million debt from diversified financial institutions.
The equity funding was led by existing investor Alpha Wave Global (formerly known as Falcon Edge Capital), and also saw participation from other existing investors. This marks the second major raise for Cars24 this year alone, and comes just months after the company raised $340 million in Series F equity funding in September, this year.
Worth your attention:
India’s OfBusiness valued at $5 billion in $325 million funding Link
ShareChat raises $266 million for valuation of $3.7 billion Link
Innovaccer raises $150 million, valuation more than doubles Link
India’s Most Valuable Startup Byju’s in Talks to Go Public Via SPAC Deal: Sources
Zepto, a 10-minute grocery delivery app in India, raises $100 million Link
Bizongo raises $110 mn in funding led by Tiger Global, valuation at $600 mn Link
‘Scary’: Zerodha CEO on sharp drops in stock prices of new-age tech companies Link
HealthQuad raises India’s largest dedicated healthcare VC fund of $150 mn Link
Jumbotail raises $85 million Series C round Link
Seafood marketplace Captain Fresh gets $40 mn co-led by Tiger Global, Prosus Ventures Link