ETtech Deals Digest: Razorpay, Chargebee raise funds


India’s fast-growing fintech and digital funds sector continues to draw buyers as fee gateway startup Razorpay raised recent funds this week. Meanwhile, software-as-a-service startup Chargebee turned the newest startup to affix the coveted unicorn membership.

Razorpay valuation trebles in lower than 6 months

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ETtech Deals Digest: Razorpay, Chargebee raise funds | Latest News Live | Find the all top headlines, breaking news for free online April 23, 2021

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Razorpay has
raised $160 million from Sequoia India and Singapore-based GIC in a funding spherical that has trebled its valuation to $3 billion in lower than six months. Existing buyers Ribbit Capital and Matrix Partners additionally participated within the fundraising.

ET was the
first to report on this funding in its February 25 version.

Razorpay is among the many quickest startups to see a meteoric improve in its valuation. The Bengaluru-based firm had joined the unicorn membership of startups with over a billion-dollar valuation final October,
when it raised $100 million at a valuation of simply over $1 billion in a spherical co-led by Singapore’s sovereign wealth fund GIC and Sequoia Capital.

Chargebee enters unicorn membership

Chargebee has
secured $125 million in Series-G funding, valuing the SaaS startup at $1.4 billion post-investment.

New investor Sapphire Ventures and present buyers Tiger Global and Insight Venture Partners co-led the spherical, with participation from Steadview Capital, which already backs the corporate.


The valuation of the Chennai-based firm, which supplies a subscription billing and income administration platform, has tripled in six months. Prior to Chargebee’s announcement on Tuesday, at the least
half a dozen Indian startups have already entered the unicorn club this month and about 11 because the starting of the yr.

Tessolve raises $40 million in funding

Semiconductor engineering and testing service supplier Tessolve has
landed $40 million in funding from Singapore-based personal fairness agency Novo Tellus because it seems to be to construct chops in semiconductor design to feed a rising demand for customized silicon globally.

The funding values the Hero Electronix-owned firm at $100 million. It plans to utilise the capital to beef up its semiconductor design and engineering capabilities inorganically by way of acquisitions within the US Bay space, whereas additionally increasing its geographical presence. It stated it should additionally put money into creating IP for its check engineering enterprise.

Coinswitch Kuber valued at $500 million

Coinswitch Kuber, a cryptocurrency funding platform for retail merchants, has
raised $25 million in a Series B round from Tiger Global Management at a valuation of greater than $500 million.

This marks the primary funding of the New York-based investor in a cryptocurrency platform in India. It comes regardless of reviews that the
government is working on legislation that
seeks to ban all cryptocurrencies. According to cofounder and CEO Ashish Singhal, the Tiger funding closed in mid-February, within the midst of
regulatory uncertainty.

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