BENGALURU: Financial services company Razorpay aims to achieve $90 billion TPV (total payment volume) by the end of 2022. “We have registered over 300% growth for the second consecutive year and also achieved a $60 billion TPV as of early December 2021,” said Harshil Mathur, chief executive officer and co-founder of Razorpay.
At Razorpay’s fintech conference, FTX, Mathur also said that the company plans to achieve $90 billion TPV. In 2021, Razorpay witnessed a business growth of 3x and is expected over 4x growth in volume and revenue by 2022. It currently powers payments for over 8 million businesses including Facebook, Ola, Zomato, Swiggy, Cred, Muthoot Finance, National Pension System, Indian Oil, among others. It is all set to reach 10 million businesses by 2022.
It also launched many products, such as ‘MAGIC Checkout’, RIZE and Full-stack Tax Payment Suite. While MAGIC Checkout is to speed-up the checkout process and help businesses increase conversions by 20%, RIZE is a launchpad for first-time entrepreneurs that aims to incubate 1 lakh early-stage startups.
This launchpad will help startups right from the initial incorporation to filing their first tax, paying their first payroll, and providing the tools to cater to their sales, marketing & finance needs. Further, RIZE will also help entrepreneurs acquire their first loan or funding, the company said.
Harshil Mathur said, “The launch of products like MAGIC Checkout, Tax Payment Suite & RIZE are designed to strengthen the infrastructure, and solve some of the toughest challenges that SMEs face on a daily basis.”