Harshil Mathur, co-founder and Chief Executive Officer (CEO) of Razorpay, has emerged as one of the most influential entrepreneurs in India’s fintech ecosystem. By simplifying online payments and expanding digital financial services for businesses, he has helped transform Razorpay from a startup founded in 2013 into one of India’s leading B2B fintech companies.

What began as an effort to solve the complexities of payment gateway integration has evolved into a comprehensive financial technology platform serving millions of businesses across India. Today, Razorpay offers payment solutions, business banking, lending and payroll services, making it a key player in the country’s rapidly expanding digital economy.

Early Life and Education

Harshil Mathur grew up in Jaipur, Rajasthan, where he developed an early interest in technology and computer science.

His passion for engineering led him to the Indian Institute of Technology (IIT) Roorkee, where he pursued a degree in Computer Science and Engineering. During his time at IIT, he met Shashank Kumar, who would later become his co-founder at Razorpay.

The pair shared an interest in solving real-world technology challenges, an approach that would ultimately shape one of India’s most successful fintech startups.

Identifying a Gap in India’s Payment Infrastructure

After graduating, Mathur and Kumar observed that setting up an online payment gateway in India was often a lengthy and complicated process.

Businesses, particularly startups and small enterprises, had to navigate extensive paperwork, lengthy approval timelines and complex technical integrations before they could begin accepting digital payments.

Recognizing this challenge, the founders set out to build a platform that would make payment acceptance simpler, faster and more accessible for businesses of all sizes.

Launching Razorpay

In 2013, Harshil Mathur and Shashank Kumar founded Razorpay with the objective of simplifying digital payments for Indian businesses.

The startup introduced a developer-friendly payment gateway that enabled merchants to integrate online payment systems through simple application programming interfaces (APIs), significantly reducing the complexity associated with traditional payment solutions.

Razorpay also became one of the first Indian startups to be selected for the renowned Y Combinator startup accelerator, providing international exposure and early-stage support.

By 2014, the company had officially launched its payment gateway platform, quickly gaining traction among startups, e-commerce companies, educational institutions and other digital businesses.

Expanding Beyond Payment Gateways

While payment processing remained the company’s core offering, Harshil Mathur envisioned Razorpay as a broader financial technology platform.

Over the following years, the company introduced several new business solutions, including:

• RazorpayX, a digital banking platform for businesses
• Razorpay Capital, offering business financing based on transaction data
• Razorpay Payroll, designed to simplify payroll management and compliance
• Automated vendor payment solutions
• Current account services for businesses

These products enabled Razorpay to evolve from a payment gateway provider into a full-stack fintech platform supporting multiple aspects of business finance.

Becoming India’s First B2B Fintech Unicorn

Razorpay achieved a major milestone in October 2020 when it entered the unicorn club after raising $100 million in a Series D funding round.

The investment was led by GIC, Sequoia Capital and Ribbit Capital, making Razorpay India’s first B2B fintech unicorn.

By late 2022, the company’s valuation had reportedly exceeded $7.5 billion, reflecting growing investor confidence in India’s digital payments market and Razorpay’s expanding product ecosystem.

Unlike many technology startups that prioritized rapid expansion over financial discipline, Razorpay focused on sustainable growth while continuing to invest in product innovation.

Supporting India’s Digital Economy

Today, Razorpay powers digital payments for more than 10 million businesses across India.

Its customer base includes startups, small businesses, large enterprises and well-known brands such as Swiggy, Zerodha and IRCTC.

According to company information, Razorpay processes transactions worth more than $150 billion annually, making it one of the country’s largest digital payment infrastructure providers.

The company has also played an important role in expanding digital payment adoption by integrating with the Unified Payments Interface (UPI) and supporting merchants during India’s rapid transition toward digital transactions.

Its services align closely with national initiatives promoting digital commerce, entrepreneurship and financial inclusion.

Leadership and Company Culture

Harshil Mathur is known for emphasizing product innovation, operational efficiency and customer-focused problem solving.

Under his leadership, Razorpay has cultivated a culture centered on:

• Product-first innovation
• Technology-driven financial solutions
• Customer-centric development
• Agility and continuous improvement
• Long-term business sustainability

Rather than building isolated financial products, the company has focused on creating an integrated ecosystem that simplifies business operations through technology.

Looking Ahead

As digital commerce continues expanding across India and international markets, Razorpay is preparing for its next phase of growth.

The company has outlined plans to strengthen its embedded finance offerings while exploring expansion opportunities in Southeast Asia and the Middle East.

Future growth is expected to be driven by platforms such as RazorpayX and Razorpay Capital, alongside continued investment in business banking, lending and payment technologies.

Emerging technologies, including artificial intelligence and automation, are also expected to play an increasingly important role in enhancing customer experiences and improving financial operations for businesses.

Harshil Mathur’s Impact on Indian Fintech

Harshil Mathur’s entrepreneurial journey reflects the rapid evolution of India’s digital economy over the past decade.

By addressing long-standing inefficiencies in payment infrastructure and continuously expanding Razorpay’s financial services ecosystem, he has helped simplify digital commerce for millions of businesses.

Today, Razorpay stands among India’s most influential fintech companies, supporting entrepreneurs, startups and enterprises through technology-driven financial solutions.

As India’s digital payments landscape continues to evolve, Harshil Mathur remains one of the business leaders shaping the future of fintech through innovation, scalability and customer-focused product development.

Most Searched FAQs

1. Who is Harshil Mathur?

Harshil Mathur is the co-founder and CEO of Razorpay, one of India’s leading fintech companies providing digital payment and financial solutions for businesses.

2. What is Razorpay?

Razorpay is an Indian B2B fintech platform that offers payment gateways, business banking, payroll management, lending and financial automation services for businesses.

3. Who founded Razorpay?

Razorpay was founded in 2013 by Harshil Mathur and Shashank Kumar after identifying challenges businesses faced in integrating online payment systems.

4. What services does Razorpay provide?

Razorpay offers payment gateways, RazorpayX business banking, Razorpay Capital financing, payroll management, vendor payments and payment automation solutions.

5. Is Razorpay a unicorn company?

Yes. Razorpay became India’s first B2B fintech unicorn in 2020 after raising $100 million in a Series D funding round and later achieved a valuation exceeding $7.5 billion.

6. What are Razorpay’s future growth plans?

Razorpay plans to expand its embedded finance products, strengthen RazorpayX and Razorpay Capital, and explore international opportunities in Southeast Asia and the Middle East.

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