Payments gateway platform Razorpay has raised $375 million in a funding round, which it will use to invest in the neobank platform, make more acquisitions and enter more markets, The Economic Times of India reported.
The company’s value is now $7.5 billion. The round was led by TCV, Lone Pine Capital and Alkeon Capital, according to the report.
Co-Founder and CEO Harshil Mathur said in the report the business is now “the de-facto choice” for payment solutions.