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Bengaluru-Based Razorpay Accelerates IPO Preparation with Confidential Filing
Fintech company Razorpay, based in Bengaluru, has submitted a confidential filing for its initial public offering. The company aims to complete the IPO process by the end of 2026.
Razorpay, a fintech company headquartered in Bengaluru, has submitted a confidential filing for its initial public offering. This approach allows the company to proceed without making its documents public until the official process is complete.
Razorpay aims to complete its IPO by the end of 2026. The company is backed by investors such as Y Combinator, Lightspeed, and Singapore’s sovereign wealth fund GIC.
Axis Capital, JPMorgan, Citi, and Kotak Mahindra Capital are reported to be acting as advisors during the IPO process. The company did not respond to inquiries on the matter, and the mentioned banks declined to comment.
Expanding Business Model Beyond Payment Infrastructure
Founded in 2014, Razorpay provides technology that enables businesses to accept online payments via cards, net banking, Unified Payments Interface, and digital wallets. The company generates revenue through transaction fees charged to merchants.
In recent years, Razorpay has expanded beyond payment infrastructure to offer payroll management and merchant lending services, broadening its product range.
Competition Continues in the Indian Market
Razorpay competes in India’s rapidly growing digital payments market against players like Paytm, Walmart-backed PhonePe, Cashfree, and BillDesk. It remains unclear at what valuation the company plans to enter the market through its IPO.
It is noted that in its last major funding round in 2021, Razorpay raised $375 million and was valued at approximately $7.5 billion at that time.
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