NewsVoir
Bengaluru (Karnataka) [India], August 14: In its constant endeavor to build innovative and resilient payment and banking solutions for businesses, Razorpay, India's Leading Omnichannel Payments and Banking Platform for Businesses has been recognised by Forbes as part of the prestigious Cloud100 List for 2024. The company has been apprehended for its innovation and leadership in the cloud technology sector and for being one of the disruptors in the cloud and AI technology revolution globally. This places Razorpay amongst world leaders such as OpenAI, Databricks, Canva, Airtable, to name a few. The Fintech giant has entered this distinguished list for the third consecutive time and this year, the Nasdaq Stock Market in New York City celebrated each Cloud 100 honoree individually on Times Square Tower.
The Cloud 100 list recognizes standouts in the technology category from small startups to private-equity-backed giants. A panel of 25 judges, composed of a majority of public cloud CEOs, selected and ranked the top 100 companies using a combination of quantitative and qualitative factors. The evaluation process involved four factors: estimated valuation (30%), operating metrics (20%), people and culture (15%), and market leadership (35%), which the judging panel then weighed to select, score, and rank the winners. This year's list highlights companies that have effectively harnessed the power of AI and strategically positioned themselves for potential IPOs, aiming to capitalize on their growth and market leadership in the near future.
Expressing his excitement on being featured in this prestigious list, Harshil Mathur, CEO and Co-founder of Razorpay said, "Being featured on the Forbes Cloud 100 list for the third time is an incredible honor for us at Razorpay. To be the only Indian company on this prestigious list is not just a proud moment for us, but a testament to the potential and impact of India's financial technology sector on the global stage. Over the years, our relentless focus on building a business-centric platform has driven our growth, and this recognition reinforces our belief that we are on the right path. We're more committed than ever to empowering businesses with innovative payment solutions that drive real value and want to continue setting a new benchmark for others to follow."
"Hearty congratulations to all the companies across the globe that have made it to this list," he added.
Razorpay believes the Digital P2M Payments market in India will continue to grow exponentially and reach $4 Trillion by 2030! Recognizing the ever-expanding potential for Startups, Freelancer, and Enterprises, the company will continue to invest in building an intelligent real-time financial infrastructure, supported by next-gen AI technologies to help businesses scale and meet their ever-evolving payment and banking needs.
Razorpay, an omnichannel payments and banking platform for businesses, helps Indian businesses with comprehensive and innovative solutions built over robust technology to address the entire length and breadth of the payment and banking journey for any business. Established in 2014, the company provides technology payment solutions to Millions of businesses. Founded by alumni of IIT Roorkee, Shashank Kumar, and Harshil Mathur, Razorpay is the second Indian company to be a part of Silicon Valley's largest tech accelerator, Y Combinator. Marquee investors such as Lone Pine Capital, Alkeon Capital, TCV, GIC, Tiger Global, Sequoia, Capital India, Ribbit Capital, Matrix Partners, Salesforce Ventures, Y Combinator, and MasterCard have invested a total of $741.5 Mn through Series A to F in funding. A few angel investors have also invested in Razorpay's mission to simplify payments and business banking and redefine how finance works in India.
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