Crime Today News
Payments major Razorpay has turned into a public entity ahead of its planned initial public listing (IPO)
It comes amidst of the company’s reverse flipping to India from its base in the US. Several startups like Meesho, Pine Labs and others are flipping back its base to India as these companies plan for listings in India.
“As part of our redomiciling to India, we’re initiating the process to become a public company well before our IPO in approximately two years, in order to align with best governance practices and build early readiness,” said a Razorpay spokesperson.
Razorpay has changed the company name from Razorpay Software Private Limited to Razorpay Software Limited.
Recently, the fintech major launched a slew of products powered by AI to scale its offerings to its merchants.
The company introduced corporate credit cards for start-up founders in partnership with Yes Bank, a buyer protection program to secure online transactions, an AI-powered payments suite for automated onboarding and financial management, and a customisable digital gift card platform.
The Bengaluru-based firm processes around $180 billion worth of transactions every year and has reported profit in its core payments business. Overall, the company has yet to report profitability as its other businesses continue to absorb cash.
Founded in 2014 by Harshil Mathur and Shashank Kumar, the company has rasied $739 million in funding till date.
Published on April 19, 2025
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