Tiger Global-Backed Razorpay's FY24 Income Grows After New Products
- The startup was last valued at $7.5 billion in a 2021 round
- Razorpay’s profit grew 360% to 340 million rupees in FY24
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Payment gateway Razorpay Software Pvt. grew both its annual income and revenues as new products helped offset Indian central bank’s curbs on adding merchants for much of the year.
The Tiger Global-backed Indian fintech unicorn’s net income jumped 360% to 340 million rupees ($4 million) for the fiscal year ended March 31 compared with the previous year, according to a press release on Tuesday. Revenues grew 9% to 25 billion rupees, driven by its mainstay payment gateway operations.