RAZORPAY FUNDING

Maxim AI serves clients in sectors such as software-as-a-service (SaaS), banking, healthcare, and edtech. The company will use fresh capital to expand team and scale operations to partner with more enterprises developing AI products. In fiscal year ...

Happy Wednesday! Homegrown startups are stepping on the pedal for their move back home. This and more in today's ETtech Morning Dispatch.

US-registered Razorpay is quickening plans to shift its domicile to India. For the same, it has initiated a restructuring exercise through which half a dozen India units are being brought under one holding company.

Companies typically expand their Esop pool to attract and retain talent, align employee and shareholder interests, and enhance overall performance. Private startups also institute buybacks of Esops to help create wealth for employees.

The approval from Singapore's court paves the way for Peak XV Partners-backed Pine Labs to shift its domicile to India. Multiple other companies of Indian origin including Meesho, Razorpay, Zepto and Udaan are in different stages of moving to India....

The stock market regulator has greenlit coworking startup Awfis’ IPO plans. Details on this and more in today’s ETtech Top 5.

Overall, credit card-linked UPI payments and cross-border merchant payments are two major sectors which will drive growth in digital payments in the coming years, the Bengaluru-based payment aggregator said.

Razorpay, Cashfree, PayGlocal, and new entrants rush for RBI's PA-CB licence to tap into lucrative B2B cross-border payments market. Fintechs eye big share of $250B SME exports, focusing on high margins and expanding services.

Razorpay Software Pvt Ltd saw its revenue from operations grow 54% in FY23 to Rs 2,279 crore from Rs 1,481 crore in FY22. Employee benefits and salaries were one of the biggest cost centres for the startup, comprising 28% of the total expenses.

“We are at least two years from an IPO... Before that we want other parts of our business to break even and be profitable on all fronts. Our (online) payments business is break-even,” said cofounder and chief executive Harshil Mathur.

At the extraordinary general meeting on Friday, Byju’s investors voted to remove founder and CEO Byju Raveendran. This and more in today’s ETtech Top 5.

Along with Tata Pay, Bengaluru-based identity verification startup DigiO, backed by Groww, has also secured the payment aggregator licence as of January 1.

With the PA license in place, both Razorpay and Cashfree have set up "war rooms" with executives from across teams. The aim is to reach out to as many waitlisted merchants as possible and convert them into clients.

With both Razorpay and Cashfree back in the business, industry insiders said there could be a price war breaking out in the online merchant payment space.

What does this payment aggregator licence mean? And why is it so significant for payment companies? ET explains.

While the payment aggregator licence was thought to be routine initially, for the likes of Razorpay and Cashfree, it makes a big impact as they step out of the ban on bringing in new customers.

Company is building a full-stack payment gateway that can offer card, wallet and UPI-based transactions

Two of India’s major gaming-focused streaming platforms are eyeing expansion in international markets to take on bigger rivals such as YouTube and Amazon’s Twitch. This and more in today’s Morning Dispatch.

This initiative is live with leading fund houses and distributors and investors can invest in lumpsum or start SIPs using their Visa debit cards.