NewsVoir
Bangalore (Karnataka) [India], March 27: Razorpay, India's Leading Omnichannel Payments, and Business Banking Platform, was awarded the 'Best Fintech Company' in the Payments Category at the 28th Edition of the Business Today & KPMG's Best Banks and Fintech Awards 2024, held at GIFT City, Gandhinagar. This award is another recognition of the impact Razorpay has created in the fintech sector through its industry-first products, and continuous endeavor to build the next generation of money movement infrastructure for entrepreneurs and businesses. The award was felicitated by the Minister of Road Transport and Highways, Nitin Gadkari; along with other dignitaries.
Based on a comprehensive study covering over 35 quantitative parameters, the Business Today - KPMG Award seeks to recognise fintech firms and banks who have weathered storms in FY'23, delivered innovations in products and services, nurtured talent, and have leveraged the strengths of fintech or technology partners to prepare for the future. The award platform is aimed to encourage collaboration, innovation and bring together experts in the fintech and banking sector. The event witnessed a stellar gathering from the banking and financial services world. Some of the other winners include HDFC Bank, Bajaj Finance Ltd, Kotak Mahindra Bank, Federal Bank.
Humbled by this recognition, Arpit Chug, Chief Financial Officer of Razorpay, said, "We're honored to receive the prestigious title of the Best Fintech Firm at the BT-KPMG Awards. Determined to bridge the gap in digital payment solutions for startups and SMEs, we founded Razorpay with a mission to democratize payments. What got us so far, so fast is our spirit of perseverance, our constant commitment to innovation, and our proactive approach to solving key industry payment and banking challenges to help businesses. It is a way of life at Razorpay. I extend my heartfelt gratitude to our exceptional teams, partners, and customers whose trust and support have been pivotal to our success and this recognition."
With an annualized Total Payment Volume (TPV) of $150 Billion, Razorpay today has gained a majority market share, making it India's Market Leader in the Digital Payments Processing category. At its recently concluded flagship event, FTX, Razorpay launched India's First Full-Stack Intelligent Marketing Growth Suite - ENGAGE, and India's First AI-Assistant for Payments & Payroll - RAY. The event also witnessed the launch of India's First PG Built for 600 Million Users - Razorpay PG 3.0, and India's First UPI-Led QR Stack for Enterprises - Razorpay Dynamic POS Device. With relentless industry-first solutions, Razorpay continues to remain at the forefront of innovation through its strong presence as India's only full-stack platform for all things payments and business banking.
Razorpay, an omnichannel payments and banking platform for businesses helps Indian businesses with comprehensive and innovative solutions built over robust technology to address the entire length and breadth of the payment and banking journey for any business. Established in 2014, the company provides technology payment solutions to Millions of businesses. Founded by alumni of IIT Roorkee, Shashank Kumar, and Harshil Mathur, Razorpay is the second Indian company to be a part of Silicon Valley's largest tech accelerator, Y Combinator. Marquee investors such as Lone Pine Capital, Alkeon Capital, TCV, GIC, Tiger Global, Sequoia Capital India, Ribbit Capital, Matrix Partners, Salesforce Ventures, Y Combinator, and MasterCard have invested a total of $741.5 Mn through Series A to F in funding. A few angel investors have also invested in Razorpay's mission to simplify payments and business banking and redefine how finance works in India.
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