Razorpay plans $700 million+ IPO in late 2026
Razorpay is gearing up for a big move, a possible IPO in late 2026 that could bring in over $700 million, topping its earlier fundraising plans.
The company has already lined up Axis Capital, Kotak Mahindra Capital, JPMorgan, and Citigroup to help with the process, though final details are still being worked out.
Payments platform's revenue hit ₹3,900 crore in FY25
Razorpay runs a payments and banking platform that helps businesses handle everything from credit cards and UPI to wallets and POS systems.
It has all three RBI payment aggregator licenses: online, cross-border, and offline POS.
In fiscal 2025, revenue hit ₹3,900 crore, thanks to strong growth in payments banking and international business.
Losses and previous funding rounds
Even with major revenue gains, Razorpay posted a net loss in fiscal 2025 due to ESOP expenses and costs tied to moving its base back to India.
So far, it has raised $742 million from big names like GIC and Tiger Global.