VC firm TCV in advanced talks to lead a $270m round in fintech unicorn Razorpay

Razorpay Founders (L-R), Harshil Mathur & Shashank Kumar

Venture capital firm TCV is in advanced talks with Razorpay to lead a new $270 million fundraising by the fintech unicorn, two people familiar with the matter said.

The Series F round of funding is likely to more than double Razorpay’s valuation to around $6.5 billion ( 48,345 crore), the people said on condition of anonymity.

TCV counts leading global tech firms such as Netflix and Airbnb among its portfolio firms. It made its first ever investment in India in March, betting on fantasy gaming platform Dream11, followed by logistics management startup FarEye in May. Some of Razorpay’s existing investors would also participate in the new fundraising, the people cited above said.

Talks are also on with other marquee global investors, the people said, adding that a portion of the funds would be used for inorganic growth opportunities.

A spokesperson for Razorpay declined to comment. TCV did not respond to an email seeking comment.

Razorpay last raised $160 million in a Series E round in April when it was valued at $3 billion. The round was led by Singapore sovereign wealth fund GIC and joined by existing investors Sequoia Capital, Ribbit Capital and Matrix Partners.

The article was first published on livemint.com.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.