<article><a style="color: #000080;" href="https://razorpay.com" target="_blank">Razorpay</a>, an online payment gateway, has raised $9 million in a round led by Tiger Global and Matrix Partners.</article>

<a style="color: #000080;" href="https://razorpay.com" target="_blank">Razorpay</a>, an online payment gateway, has raised $9 million in a round led by Tiger Global and Matrix Partners.
The Bangalore-based startup, which was incubated at Y Combinator, had earlier raised $2.5 million in seed funding. That round, which the company had not announced before, was funded by Matrix Partners, several angel investors such as <a href="http://www.forbes.com/forbes/welcome/" target="_blank">Ram Shriram</a>, Google X&#8217;s Jeff Huber and <a href="http://justinkan.com" target="_blank">Justin Kan</a>, and the incubator itself, according to <a style="color: #000080;" href="http://economictimes.indiatimes.com/small-biz/startups/online-payment-gateway-razorpay-raises-rs-58-crore/articleshow/49546271.cms" target="_blank">this report</a>.
The company will use the funds to strengthen the technology in its payment product and allow transactions with other segments of the payment industry. Razorpay facilitates online payment through net banking, digital wallets and credit cards. And it has the tech to work on 2G networks, which expands its potential in countries like India where <a style="color: #000080;" href="http://telecomtalk.info/indians-using-2g-still-think-that-3g-is-an-expensive-option/135258/" target="_blank">3G never really took off</a>.
Unlike payments gateways that take the customer away from the merchant website and back after payment, Razorpay allows for the payment to go through without leaving the merchant site. That makes a difference in areas with slow and inconsistent internet connections.
The firm was based out of Jaipur until last year, and have since moved to Bangalore. It has over 1,800 merchants on its payment platform.
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Razorpay, an online payment gateway, has raised $9 million in a round led by Tiger Global and Matrix Partners.

India: Fintech startup Razorpay raises $9m from Tiger Global, Matrix Partners, other investors

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India: Fintech startup Razorpay raises $9m from Tiger Global, Matrix Partners, other investors

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