Razorpay
Financial Performance
Razorpay Revenue & Financials
Revenue
~$438.8M (FY2025)
Employees
3,500
What is Razorpay's revenue?
Razorpay had ~$438.8M in revenue for fiscal year 2025, up 64.8% from 2024. It reported a net loss of ~$140.2M.
- Latest revenue
- ~$438.8M (FY2025)
- Year-over-year
- +64.8%
- Growth rate (CAGR)
- 28.8% over 2 years
- Peak revenue
- ~$438.8M (FY2025)
- Years of data
- 3
- Employees
- 3,500
- How much profit does Razorpay make?
- Razorpay reported a net loss of ~$140.2M for fiscal year 2025. m.economictimes.indiatimes.com
- How many employees does Razorpay have?
- Razorpay has about 3,500 employees.
Financial Analysis
Razorpay's FY25 consolidated revenue from operations was ~$439 million (₹3,783 crore), up 65% from ~$266 million (₹2,296 crore) in FY24. Gross profit rose 41% to ~$148 million (₹1,277 crore). The company reported a ~$140 million (₹1,209 crore) net loss, which it attributed to ESOP expenses and one-time costs of redomiciling to India (press reports put the reverse-flip tax at about $144 million (₹1,245 crore)). It has raised roughly $741 million from investors including GIC, Peak XV Partners, Z47 (formerly Matrix Partners India) and Tiger Global; its last priced round valued it at $7.5 billion in 2021, while June 2026 reports put its IPO valuation target at $5-6 billion.
Revenue Trend Analysis
YoY Change
+64.8%
2-Year CAGR
+28.8%
Peak Year
2025
Trend
Not enough comparable years
Razorpay has 3 full fiscal year figures on this page, compounding at +28.8% annually over 2 years. The most recent year saw a 64.8% increase versus the prior year. Annual revenue peaked in fiscal year 2025 at ~$438.8M. Of 2 comparable year-over-year steps, 2 showed growth and 0 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Net Income | YoY Change | Source |
|---|---|---|---|---|
| FY2025 | ~$438.8M | -~$140.2M | +64.8% | Razorpay FY25 results (via Economic Times) Revenue from operations, fiscal year ended 31 March 2025. The loss includes one-time tax costs of moving its holding company to India. |
| FY2024 | ~$266.3M | — | +0.7% | Razorpay consolidated results (via Entrackr) Revenue from operations, fiscal year ended 31 March 2024. |
| FY2023 | ~$264.4M | — | — | Razorpay consolidated filing via Moneycontrol Consolidated revenue for the fiscal year ended 31 March 2023. |
Click any row to see year details.
Keep researching Razorpay
Razorpay Revenue and Financial FAQ
What is Razorpay's valuation and total venture capital raised?
Razorpay was valued at $7.5 billion in its December 2021 round and has raised about $741 million from investors including GIC, Peak XV Partners, Z47, Tiger Global, Lone Pine Capital, Alkeon and TCV. June 2026 reports put its IPO valuation target at $5-6 billion.
What is Razorpay's annual revenue scale and operating profit trajectory?
Razorpay reported consolidated revenue of ~$439 million (₹3,783 crore) in FY25, up 65% from ~$266 million (₹2,296 crore) in FY24. Gross profit rose 41% to ~$148 million (₹1,277 crore), and net loss was ~$140 million (₹1,209 crore) due to ESOP and reverse-flip costs.
What is the Total Payment Volume (TPV) processed across Razorpay's ecosystem?
Razorpay does not publish audited payment volume figures in its results; investors typically track revenue (~$439 million (₹3,783 crore) in FY25) and gross profit (~$148 million (₹1,277 crore)).
Is Razorpay a publicly listed company or a private unicorn?
Razorpay is not yet listed. It confidentially filed draft IPO papers with SEBI in June 2026 and is targeting a listing on Indian exchanges by the end of 2026.
What is Razorpay's 'Reverse Flip' corporate restructuring back to India?
Razorpay was originally incorporated in Delaware. In May 2025 it completed a reverse flip, merging Razorpay Inc. into its Indian company, Razorpay Software Limited, to prepare for an Indian listing.
What percentage of Razorpay's revenue is derived from non-gateway value-added services?
Razorpay does not publicly break out revenue by product line in its reported results.
How did the RBI Payment Aggregator (PA) license unlock business expansion for Razorpay?
RBI authorisation as a payment aggregator, received after a 2022 onboarding pause, allowed Razorpay to resume onboarding new online merchants.
How does Razorpay manage financial risk in merchant acquiring?
Razorpay utilizes real-time AI risk scoring (Thirdwatch) and algorithmic transaction monitoring to detect fraudulent chargebacks, illegal gambling, and merchant insolvency risks, maintaining chargeback loss rates well below global card network thresholds.
What is Razorpay’s Total Payment Volume (TPV) scale?
Razorpay processes over $150 billion in annualized Total Payment Volume (TPV), processing billions of digital transactions annually across millions of online and offline Indian merchants.
What is Razorpay’s annual consolidated revenue scale?
Razorpay generates over ₹2,200 crore to ₹2,500+ crore ($270M–$300M+ USD) in annual consolidated revenues, driven by rapid volume expansion in digital commerce and neo-banking payouts.
What is Razorpay’s venture capital valuation?
Razorpay was valued at $7.5 billion in its December 2021 Series F funding round, making it one of the most valuable privately held fintech companies in India and the Asia-Pacific region.
Who are Razorpay’s primary institutional investors?
Key investors include Y Combinator, GIC (Singapore), Sequoia Capital India (Peak XV), Tiger Global, Lone Pine Capital, Alkeon Capital, TCV, Ribbit Capital, and Salesforce Ventures.
Is Razorpay’s core payments business profitable?
Yes, Razorpay’s core payment gateway operations in India have consistently achieved operating EBITDA profitability, while the company reinvests cash flow into expanding RazorpayX, offline POS, and Southeast Asia.
What is Razorpay’s "reverse flip" corporate restructuring to India?
Like several major Indian tech startups originally incorporated in the US or Singapore, Razorpay initiated a corporate "reverse flip" to relocate its ultimate holding company domicile back to India in preparation for a domestic public listing (IPO).
How did the RBI regulatory onboarding pause impact Razorpay’s finances?
Between late 2022 and December 2023, the RBI paused new merchant onboarding for major payment aggregators pending compliance audits; Razorpay offset this by deepening wallet-share and cross-selling software to its massive existing merchant base.
What are Razorpay’s key financial metrics ahead of its IPO?
Razorpay focuses on expanding blended net take rates, growing non-payment SaaS software revenues to over 20% of the mix, scaling offline POS margins, and demonstrating consolidated group net profitability.
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CorpDigest. "Razorpay Revenue & Financials." CorpDigest, https://corpdigest.com/company/razorpay/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Razorpay reported ~$438.8M in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/razorpay/financials" target="_blank" rel="noopener">CorpDigest — Razorpay financials</a></div>Related Financial Audits
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