Razorpay eyes $90 billion in Total Payment Volumes for 2022 ahead of its annual event
Financial services and payments startup Razorpay has set a target of $90 billion in Total Payment Volumes for 2022, ahead of its annual event Razorpay FTX. This will be a 50 percent growth over its current TPV of $60 billion which the company clocked in by early December 2021.
TPV refers to the total value of payments and reversals executed on a payments platform, in this case across Razorpay's payment gateway, neobank and other products.
Mathur, the CEO of the startup said, "We had set a goal of $50 billion in TPV for 2021, we have crossed that. A lot of growth for us happens because of the pace at which new businesses are growing today. Of the 43 unicorns that emerged in 2021, we power 34."
In FY21, Mathur said that Razorpay saw revenue growth of 250 percent. He expects FY22 revenue growth to be in the same range.
In its last funding round in April 2021, the startup raised $160 million which led to a 3x rise in its valuation to $3 billion. According to news reports, Razorpay is in talks with venture capital firm TCV for a $270 million fundraise.