Razorpay launches first international payment gateway in Malaysia through Curlec

livemint.com:

New Delhi: Razorpay has announced the launch of its first international payment gateway for the Malaysian market with Curlec, now known as ‘Curlec by Razorpay’. In February 2022, Razorpay had acquired a majority stake in Kuala Lumpur-based fintech Curlec at a valuation of $20 million with an aim to fuel its global expansion plans. The balance stake acquisition was to be completed in 2023.

The company currently works with over 700 Malaysian businesses, including Tune Protect, CTOS, Courts, Mary Kay and The National Kidney Foundation. “The new Curlec payment gateway will serve more than 5,000 businesses with a target of RM10 billion ($2 billion) in annualized gross transaction value (GTV) by 2025," Razorpay said in its statement. “We have always been aware that simplifying payments is a universal problem.

We see great potential in SEA, we recognise the power of payments in Malaysia and what it means for businesses of any kind and size. We firmly believe that our extensive experience in operating within the diverse and dynamic market of India has prepared us to tackle different challenges and solve payment problems on a global scale," said Shashank Kumar, managing director and co-founder, Razorpay India. Curlec co-founder and CEO Zac Liew added, “With the launch of our Payment Gateway, ‘Curlec by Razorpay’, we are now a full-stack payment solutions provider, combining the might of both worlds - world-class tech capabilities and an understanding of the local payment ecosystem.