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Salesforce Ventures Increases Razorpay's Footprint through Strategic Investment

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Salesforce Ventures, an investment arm creating the world’s largest ecosystem of enterprise cloud companies, offered a strategic investment to the fintech unicorn Razorpay, with the investment kept under wraps.

However, this undisclosed investment is believed to enhance the latter’s footprint in the business banking space.

The fintech platform is in hopes that both the investment as well as the partnership will immensely bring changes to the industry increasing the adoption and financial growth for the undeserved MSMEs until next year.

Valued at over $ 3 billion in a Series E fund-raise, Razorpay implies that it has witnessed 400 percent transaction volume growth for more than 16 months during the pandemic and is currently lending its services to more than 15,000 businesses in India.

Also, for the last seven years, it has helped modernize the MSMEs in their financial infrastructure through its smart automated payment and banking solutions that helped manage the money flow end-to-end. The new infusion of funds is also believed to boost this growth.

“We are thrilled to partner with Razorpay on their mission to revolutionize digital finance not only in India, but around the world”, says an excited Bhattacharya.

Having become a unicorn within six months, the fintech platform is also busy powering payments to more than eight million businesses, with Facebook, Cred, Ola, NPS, Amazon, Tata Technologies, Zomato, Amul, Swiggy, ICICI Prudential to name a few. It plans to add 200 million more customers to its already existing 140 million customers.

Razorpay claims that its experience generating innovation for a market as diverse as India can help the Southeast Asian markets handle a variety of Fintech concerns. According to the fintech platform, the payment issue is more prevalent in poor countries than in wealthy countries.

“At Razorpay, we intend to take greater steps on the idea of investing in India's digital future and establishing an intelligent payment and banking infrastructure for the new-world”, states Harshil Mathur, CEO and Co-Founder, Razorpay.

Salesforce Ventures on the other hand, is one among the front row investors when it comes to enter[rise software. Being one of the fastest growing enterprise companies, the investment platform believes that it has what it takes to help Razorpay in its next stage of its growth journey.

Again speaking of the pandemic, Arundhati Bhattacharya, chairperson and CEO, Salesforce India, also feels that it has sped the transition to a less-cash economy. The fast growth in digital payments over the previous year has provided avenues for technical innovation, and Razorpay has emerged as the preferred payment processor for many e-commerce companies.

“We are thrilled to partner with Razorpay on their mission to revolutionize digital finance not only in India, but around the world”, says an excited Bhattacharya.

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