Razorpay has raised $160 mn at a $3 bn valuation, up from $1 bn in Series D in October last year. The new round was led by existing investors Singapore’s sovereign wealth fund — GIC — and Sequoia Capital India and saw the participation of Ribbit Capital. The fintech startup, to date, has raised funds to the tune of $366.5 mn. Razorpay accepts, processes and disbursed funds online for businesses.
Groww has raised $30M in series C round, led by YC Continuity. This is its first investment in India. Existing investors Sequoia India, Ribbit Capital and Propel Ventures also participated in this round. Groww will use this investment to bolster its tech infra, expand its product suite and hire top talent across product and growth divisions. They will also employ this investment to fuel their pan-India financial education initiative “Ab India Karega Invest”.