Fri, 22 Sep 2023

Bengaluru (Karnataka) [India], August 12 (ANI/NewsVoir): Razorpay, India's leading full-stack Payments and Banking Platform for Businesses, has become the first Indian company to be named in the 2022 Forbes Cloud 100 List, the definitive ranking of the top 100 private cloud companies in the world. Published for the sixth time by Forbes in partnership with Bessemer Venture Partners and Salesforce Ventures, Razorpay has entered the list for the second time, being listed at the #49th position for being a Financial Solutions Software (last year Razorpay ranked 57th). This places Razorpay amongst world leaders such as Canva, DataBricks, Airtable, to name a few.

The Cloud 100 list recognizes standouts in the technology category from small startups to private-equity-backed giants. A panel of 25 judges, made up of a majority of public cloud CEOs, selected and ranked the top 100 companies using a combination of quantitative and qualitative factors. The evaluation process involved four factors: estimated valuation (30 per cent), operating metrics (20 per cent), people and culture (15 per cent), and market leadership (35 per cent), which the judge panel then weighed to select, score and rank the winners. This year's list is bigger than ever before, with a combined market capitalization of more than USD 100 billion greater than 2021 and headcounts larger by total, average, and median.

Excited on being featured in this prestigious list, Harshil Mathur, CEO and Co-founder, Razorpay said, "We are thrilled and humbled to be part of this honourable list featuring the World's Top 100 Cloud Companies. It is not only a happy moment for us Razors, our customers and industry partners, but this is also a testament for us as a country to display potential India's Financial Software Sector has. Over the last eight years, we at Razorpay have been committed on building a company with a hyper-focus on creating more value and growth for our partner businesses. We believe if there is no growth for them, there is no growth for us. This recognition reiterates their support and assures us that we are headed in the right direction with our goals identifiably aligned with our vision. This listing has brought on additional responsibility for us which has acted as a new force of motivation."

"We would also like to congratulate all the other disruptive companies across the globe that have made it to this list," he added.

Razorpay recently received the Payment Aggregator license from the Reserve Bank of India, making it one of the first few companies to receive the same. In a short span of over eight years, the fintech giant has witnessed massive growth in terms of market share and mind space with their partner businesses and industry peers, achieving USD 80bn TPV thus far.

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 USD 741.5 Mn through Series A, B, C, D, E and 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.

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)

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