Bengaluru-based fintech leader Razorpay Software Ltd. has reported a 65% rise in consolidated revenue for the financial year ended March 2025, highlighting its strong growth across payments, banking, and international markets. The company’s revenue climbed to INR 3,783 crore, up from INR 2,296 crore in FY24, while gross profit increased 41% to INR 1,277 crore from INR 906 crore a year earlier.
Strong Growth Across Business Verticals
Razorpay said the growth was powered by solid execution across its payment gateway, banking, POS, loyalty, and international businesses. The company noted that its online payments segment is now EBITDA-profitable, supported by strong cash flows and improving margins.
“FY25 was a pivotal year for Razorpay,” said Harshil Mathur, CEO and Co-founder. “We delivered top-line growth through focused execution while improving our gross margins. Beyond online payments, we’re seeing strong momentum in new business lines that are scaling fast and unlocking new growth opportunities.”
One-Time Costs Affect Bottom Line
Despite robust revenue growth, Razorpay posted a post-ESOP loss of INR 1,209 crore, driven by one-time restructuring and tax expenses linked to its redomiciling to India.
CFO Arpit Chug explained that the company remains financially strong and disciplined. “We delivered a 65% revenue growth while ensuring efficient capital allocation between mature, cash-generating units and high-potential verticals,” he said.
The company emphasized that these costs were non-recurring and reflected its strategic decision to complete its reverse flip to India, after which it became a public entity in April 2025.
Abinaya Arangarajan
Expanding International and Product-Led Growth
Razorpay continues to expand globally, focusing on Southeast Asia, especially Malaysia and Singapore. The company is strengthening its cross-border fintech infrastructure to support businesses across emerging markets.
The fintech major plans to accelerate product-led innovation and invest in AI-first fintech solutions to improve efficiency and customer experience. Backed by top investors such as Lightspeed, GIC, Tiger Global, and Peak XV Partners, Razorpay is set to deepen its investments in its core fintech stack and financial infrastructure.
Building for the Future
Founded in 2014 by IIT Roorkee alumni Harshil Mathur and Shashank Kumar, Razorpay has raised over $800 million to date. Recently, it also acquired rewards-first UPI payments app POP for $30 million to expand its consumer-focused offerings.
With strong revenue growth, healthy unit economics, and global ambitions, Razorpay is positioning itself as a diversified fintech platform driving innovation in the digital economy. As Mathur summed up, “We’re building not just for India, but for the world.”
Vidhi Punamiya
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