Shashank started Razorpay, along with Harshil Mathur, after discovering the dismal state of online payments in India. He graduated from IIT Roorkee and before taking the entrepreneurial route with Razorpay; Shashank also worked with Microsoft US as a Software Developer. With an idea to change the way online payments function in India, Shashank quit his full-time job.
By early 2014, Razorpay was conceptualized with a vision to simplify online payments. Razorpay is one of the only two India-focused companies to be selected for the prestigious Y Combinator (YC) program. Along with 33 reputed investors, the company is also backed by Lone Pine Capital, Alkeon Capital, TCV, GIC, Ribbit Capital, Sequoia Capital India, Tiger Global Management, Y Combinator, Matrix Partners, and Mastercard with a funding of $741.5 Mn from Series A, B, C, D, E & F rounds.
Three years after its founding, Razorpay rebranded itself in 2017 as Razorpay 2.0, a Converged Payments Solution company with a product suite designed to ease businesses of managing concerns around the flow of money in their
financial systems. Over the course of time, Razorpay has acquired eight companies – Ezetap – India’s leading offline POS company, PoshVine – India’s leading fintech startup that provides payments-linked loyalty solutions to payment networks, banks, and businesses, IZealiant – A mobile-first, API-enabled, and cloud-ready payment solution, RazorpayX Payroll (Opfin) – a Payroll and HR Management Software company, to solve for seamless automation of a business’s entire payroll process, Thirdwatch- an Artificial Intelligence (AI) driven company specializing in big data and machine learning for real-time fraud prevention, TeraFin Labs – The AI-based SaaS platform that facilitates digital financing solutions.
The company made its first international acquisition last year by acquiring Curlec – A Recurring payment platform, but with the recently announced launch of Razorpay’s first international payment gateway for the Malaysian market, Curlec now becomes a full-stack tech solution provider for payments. Earlier this year Razorpay also launched its first international Payment Gateway for the Malaysian market with Curlec, earlier known as a recurring payment platform, now a PG, known as ‘Curlec By Razorpay.
Further strengthening its Omnichannel Play, Razorpay also recently acquired BillMe, A Digital invoice and customer Engagement – Razorpay’s partnership with BillMe is strategically designed to empower businesses with a hybrid model to engage better with end customers.
Progressing in its journey that started with Razorpay 2.0, the Company also launched its neobanking platform, RazorpayX, and lending platform, Razorpay Capital – both designed to power the financial systems for disruptive companies.
Razorpay has been charting exponential growth since its inception. The company today powers digital payments for millions of businesses including the likes of Facebook, Airtel, BookMyShow, Lenskart, Indian Oil, National Pension Scheme, Tata Consultancy Services, Ola, Zomato, Swiggy, Cred, ICICI Prudential among others. Currently, the company aims to further solidify its position as one of the largest full-stack fintech companies in the country.
Among other achievements, Shashank also won The Economic Times 40 under 40 list of India’s top business leaderS & Best New Age Entrepreneurs by the Asian Center Of Corporate Governance in 2024 EY Entrepreneur of the Year in 2022 & he was also recognized under Forbes 30 Under30 ASIA class of 2021, Entrepreneur magazine’s ‘Top 35 Under 35’ entrepreneurs in 2021, 30 promising young Indian talent under the age of 30 in 2021, by Forbes, 40 Under 40 by Fortune India in 2021, & was also featured as LinkedIn’s Power Profiles in India (Technology) in 2017 & 2018.
