Razorpay is in talks to raise $120-150 million in a fresh funding round led by Singapore’s sovereign wealth fund GIC. Separately, Omidyar Network has earned close to $40.5 million (Rs 300 crore) from exiting two of its portfolio firms.
GIC may invest in Razorpay
The company is expected to use the funds for its new product offerings including neo-banking platform Razorpay X, which was launched almost a year ago. Razorpay has raised $75 million in its Series C funding round led by Ribbit Capital and Sequoia India in June last year.
Omidyar scores $40.5m from two exits
Venture capital firm Omidyar Network has earned close to $40.5 million (Rs 300 crore) from exiting two of its portfolio companies, Aspiring Minds and WhiteHat Jr, over the past two months, The Economic Times reported.
Quoting data from Tracxn, the report said that Omidyar had cumulatively invested Rs10.8 crore in Aspiring Minds, and about Rs 23.8 crore in WhiteHat Jr.
Aspiring Minds was acquired by SHL in an all-cash deal estimated at $80-100 million in October last year, while WhiteHat Jr was acquired by Byju’s last month for $300 million.