Shashank KumarCo-Founder and Managing Director, Razorpay
Shashank started razorpay, along with harshil mathur, afterdiscovering the dismal state of online paymentsin india. He graduated from iit roorkee and before taking theentrepreneurial route with razorpay; shashank also worked withmicrosoft us as a software developer. With an idea to change the wayonline payments function in india, shashank quit his full-time job.
By early 2014, razorpay was conceptualized with a vision to simplifyonline payments. Razorpay is one of the only two india-focusedcompanies to be selected for the prestigious y combinator (yc)program. Along with 33 reputed investors, the company is alsobacked by lone pine capital, alkeon capital, tcv, gic, ribbit capital, sequoia capital india, tiger global management, y combinator, matrix partners and mastercard with a funding of $741.5 mn fromseries a, b, c, d, e & f rounds.
Three years after its founding, razorpay rebranded itself in 2017 as razorpay 2.0, a converged paymentssolution company with a product suite designed to ease businesses of managing concerns around the flowof money in their financial systems. Over the course of time, razorpay has acquired seven companies -ezetap – indias leading offline pos company, poshvine – indias leading fintech startup that providespayments-linked loyalty solutions to payment networks, banks, and businesses, izealiant – a mobile-first, api-enabled, and cloud-ready payment solution, razorpayx payroll (opfin) – a payroll and hrmanagement software company, to solve for seamless automation of a businesss entire payroll process, thirdwatch- an artificial intelligence (ai) driven company specialising in big data and machine learningfor real-time fraud prevention, terafin labs – the ai-based saas platform that facilitates digital financing solutions.
Recently, the company made its first international announcement by acquiring curlec – a recurringrevenue platform. Progressing in its journey that started with razorpay 2.0, the company also launchedits neobanking platform, razorpayx and lending platform, razorpay capital – both designed to power thefinancial systems for disruptive companies.
Razorpay has been charting exponential growth since its inception. In the last six years, the company haspowered digital payments for over 8 mn businesses including the likes of facebook, airtel, bookmyshow, lenskart, indian oil, national pension scheme, tata consultancy services, ola, zomato, swiggy, cred, icici prudential among others and the company is all set to reach 10 mn by 2022. In the last six months, razorpay has witnessed a 40-45% growth, month-on-month. Currently, the company aims to furthersolidify its position as one of the largest full-stack fintech companies in the country.
Shashank has recently been recognized as the “entrepreneur of the year” under the financial servicescategory by ernst & young and has also been featured in an eclectic list of 30 promising young indiantalents under the age of 30, by forbes magazine (2017) and 40 under 40 by fortune india (2019). Shashankhas also been featured in entrepreneur magazine as top 35 under 35 entrepreneurs (2021).