Razorpay’s funding venture to invest in early-stage B2B companies
The Bengaluru-based fintech unicorn said it wants to back 10-15 companies every year and could invest up to a million dollars in each. The company has a target of investing in at least 50 startups through this programme.
Razorpay Venture Investment Programme, as it is named, will scout for opportunities in sectors like fintech, travel, healthcare, hospitality, retail and ecommerce. But the company intends to invest only in business-to-business (B2B) startups. The Reserve Bank of India-licensed payment aggregator believes that India will see 10-15 B2B unicorns getting created over the next five years.
“The investment amount should be around $500,000 and it could go up to a million. The idea is to invest in early-state B2B focused companies, which could help Razorpay’s clients in their business operations as well,” said Harshil Mathur, Razorpay’s chief executive.
Peak XV Partners and Lightspeed have partnered Razorpay for this programme and will co-invest in these funding rounds. Mathur said Razorpay will scout for companies and evaluate them, while Peak XV Partners and Lightspeed can help in subsequent late-stage funding rounds.
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