How Harshil Mathur & Shashank Kumar Built Razorpay into India’s Fintech Powerhouse
In India’s dynamic startup ecosystem, few names shine as brightly as Harshil Mathur and Shashank Kumar, the visionary co-founders of Razorpay. From humble beginnings at IIT Roorkee to building one of India’s most trusted payment gateway platforms, their story is a blueprint for aspiring entrepreneurs in the fintech space.
The Genesis of Razorpay
Back in 2014, Harshil and Shashank observed a broken digital payments experience for businesses in India. Most existing payment gateways were built for large enterprises, with complicated onboarding and legacy infrastructure. The duo envisioned a smarter, cleaner solution tailored for Indian startups and SMEs.
With that, Razorpay was born — a frictionless, developer-friendly payment solution that would soon disrupt the way businesses handled online transactions.
Did you know? Razorpay was the first Indian startup accepted into the prestigious Y Combinator accelerator in 2015.
What Makes Razorpay Stand Out?
- Full-stack payment solutions: From payment gateways to subscriptions, invoices, and even lending.
- RazorpayX: A neobank platform offering business banking.
- Capital and Growth: Raised over $740M from marquee investors like Tiger Global, Sequoia India, and GIC.
- User-centric design: Razorpay built its API and dashboard with developers in mind — a big leap over traditional players.
Today, Razorpay processes payments for thousands of businesses, from small D2C brands to giants like Facebook, Swiggy, and Airtel.
Razorpay’s Journey to a $7.5 Billion Valuation
With a sharp focus on product innovation and customer satisfaction, Razorpay quickly scaled. Its valuation soared to $7.5 billion by 2022, making it one of India’s most valuable fintech unicorns.
This growth reflects a larger trend: India’s digital payment ecosystem is booming, and Razorpay is right at its heart.
Learnings for Founders from Harshil and Shashank
At VentureLinkUp.com, we study stories like Razorpay’s to extract practical lessons for startup founders. Here’s what we can learn:
- Solve a real pain point – Don’t build for trends, build for need.
- Start lean, scale smart – Razorpay’s MVP was laser-focused and evolved based on user feedback.
- Stay product-obsessed – Both founders are known for deep product thinking and customer obsession.
- Leverage communities – Razorpay gained early traction by winning the trust of developers and startups.
Looking to start your own fintech startup? Check our detailed guide on How to Pitch Fintech Ideas to VCs – packed with tips, templates, and real examples.
In Summary
Harshil Mathur and Shashank Kumar didn’t just launch a startup — they redefined digital payments in India. For founders seeking to scale in the fintech or SaaS domain, Razorpay’s story is a reminder: solve deeply, build elegantly, and scale patiently.
