The investment has been made in order to facilitate Razorpay’s next phase of growth in the digital payments industry of India as the fintech company plans to invests bulk of capital.
RazorPay has recently introduced four new products in the Indian market. These products lies in the areas of recurring payments, automation of bank transfers like NEFT, and invoice management.
The B2B fintech startup Razorpay claims to have clocked in a growth rate of 15-20% month-on-month on the merchant count and is geared up to increase this to 450K this year.
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