The Startup of the Year category recognizes breakthrough innovation, exceptional performance, and stellar contributions of Indian startups toward defining and shaping their ecosystem
Razorpay, India’s leading full-stack Payments and Banking Platform for Businesses has been awarded as the Startup of the Year at the 6th The Economic Times’ ET Startup Awards 2022. Razorpay has received the accolade as a startup that has displayed innovation, transformation, and emerged as one of the country’s fastest-growing companies. The award was felicitated by honorable Union Cabinet Ministers Piyush Goyal and Ashwini Vaishnaw along with the Karnataka Chief Minister, Basavaraj S Bommai.
In 2016, The Economic Times launched the Startup Awards to further its commitment to encouraging the country’s vision of entrepreneurship and young leadership. The platform celebrates and acknowledges leaders and organizations for their stellar contributions towards shaping the ecosystem while identifying the ambitions and skills of some of India’s top entrepreneurs with a jury, comprising ten members located in India, Silicon Valley, Bellevue (US), and Singapore.
Razorpay was one of the top contenders, given that it has displayed one of the most significant growth trajectories over the last few years, reiterating that it has the potential to become a blue-chip corporation. Led by Infosys CEO & MD Salil Parekh, the jury picked Razorpay as the Startup of the Year. Razorpay was awarded this prestigious recognition for its success in building a robust disruptive digital payment ecosystem for banks and businesses in India.
Honored at winning this award, Harshil Mathur CEO & Co-founder, Razorpay said, “When a business is inherently committed to disrupting the status quo time and again, you become a force to be reckoned with. The Indian startup ecosystem has been an illustrious example of this commitment, having played a significant role in contributing towards a sustainable and growing economy like ours. Our story at Razorpay has been no different. We started off with the hope to make a difference in India’s financial ecosystem, but today, the dent we’ve created by powering disruptive businesses with intelligent technology excites us to reach greater heights.”
“This recognition is a testament to the fulfilling journey we have undertaken for the last 8 years and we dedicate this award to our Razors and Customers who have relentlessly committed to our mission of reimagining the way business is conducted today. Moreover, this holds us accountable to continue to set greater standards to build, innovate, and beyond. A mindset of revolutionary innovation is what makes the road ahead for us so exciting.”
Delighted upon winning this award, Shashank Kumar Managing Director and Co-founder, Razorpay said, “Upon receiving this recognition, I am taken back to the first 100 days of building Razorpay from the ground up along with Harshil. We have come a long way in the last 8 years, powering 8 million merchants in building their businesses with a tech-first mindset. This recognition reiterates this vision of ours and gives us the confidence to venture into uncharted territories and set new standards every day.”
“We started off with the hope to make a difference in India’s financial ecosystem, but today, the ripples that we have created by powering disruptive businesses are felt in the farthest corner of the country, by every business – small, medium, or big. Razorpay is at the forefront of every disruption that the industry has faced and our purpose remains the same – enable more businesses to focus on their growth.”
With almost every transaction happening in the virtual world, it is imperative for businesses to ensure seamless, hassle-free payment experiences for their customers in the offline and online world. Keeping this and a fast-evolving dynamic regulatory environment in mind, Razorpay effectively and efficiently solves payment complexities that businesses go through daily, making it a one-stop shop for everything payments and banking for businesses. The Fintech Unicorn is at the forefront of India’s digital financial revolution building the central nervous system for Digital India, with clear dominance in digital payments and its fast-growing business neo-banking arm, RazorpayX.
Razorpay, a full-stack financial services company 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 over 8Mn 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, B, C, D, E & F funding. A few angel investors have also invested in Razorpay’s mission to simplify payments and banking and redefine how finance works in India.