Salesforce Ventures, the venture capital arm of the American customer relationship management firm, has invested an undisclosed amount in Razorpay to expand its business-banking platform, the companies said in a statement on Tuesday.
The deal valued Razorpay at more than $3 billion, a little over the valuation sought by the company in April, said a person seeking anonymity. In April, RazorPay raised a $160 million Series E round at a valuation of more than $3 billion, led by Singapore sovereign wealth fund GIC. Existing investors Sequoia Capital, Ribbit Capital and Matrix Partners also participated in it.
