Shashank started Razorpay, along with Harshil
Mathur, after discovering the dismal state of online
payments in India. He graduated from IIT Roorkee
and before taking the entrepreneurial route with
Razorpay; Shashank also worked with Microsoft US as
a Software Developer.
With an idea to change the way online payments function in India, Shashank quit his full time job. By early 2014, Razorpay was conceptualized with a vision to simplify online payments.
Razorpay is one of the only two India-focused companies to be selected for the prestigious YCombinator (YC)programme. Along with 33 reputed investors, the company is also backed by GIC, Ribbit Capital, Sequoia Capital India, Tiger Global Management, Y Combinator, Matrix Partners and Mastercard with a funding of $206.5mn from Series A, B, C and D rounds. Three years since its founding, Razorpay rebranded itself in 2017 as Razorpay 2.0, a Converged Payments Solution company with a product suite designed to ease businesses of managing concerns around flow of money in their financial systems. Progressing in it’s journey that started with Razorpay 2.0, the Company recently launched their neobanking platform, RazorpayX and lending platform,Razorpay Capital - both designed to power the financial systems for disruptive companies.
Razorpay has been charting exponential growth since its inception. In the last six years, the company has powered digital payments for more than 5Mn small and large businesses such as Facebook, Indigo,BSE, Airtel, Reliance, SpiceJet, Aditya Birla, and Oyo, among others. The company has been working towards enabling adoption of digital payments especially in traditional cash-rich sectors such as education, insurance and mutual funds, among others. The company has clocked in a healthy growth rate of 40-45% healthy month on month growth in the last 6 months and is geared up to increase the number of businesses to 15 Mn by 2021. This full stack financial services company expects a 4x growth in its revenue in this year, 2021.
Shashank was featured in an eclectic list of 30 promising young Indian talents under the age of 30, by Forbes