Razorpay, which achieved 3x business growth in 2020, will be hiring over 650 employees during the current year as part of its expansion.
The Indian fintech giant’s primary focus will be towards expanding the engineering, product, customer experience, sales and marketing teams, across levels to meet the ever-evolving payment and banking needs of SMEs and Freelancers.
The company witnessed an 80 percent increase in the demand for digital payments and the need for digital financial processes, forcing offline companies to move online.
Razorpay said 350 will be towards expanding the engineering and product teams, and the rest will form the customer experience, sales and marketing forces.
“We look forward to 650 more people joining us as we together work towards servicing the next 5 million businesses by 2022,” Chitbhanu Nagri, senior vice president – People Operations, Razorpay said.
Razorpay has 1300 employees. In the last year, the company has hired over 550 employees and has also created cross-functional growth opportunities for its existing employees. The employees will continue to work remotely for the next few months.
Recently, Razorpay announced a string of new products to empower the next phase of digital growth for Small Businesses in India. The company launched Vernacular Language Support in 7 languages, India’s first B2B app store, the “Razorpay Trusted Badge” to improve conversions for new businesses, and Group Health Insurance for companies with as less as two employees.
Razorpay, which currently powers payments for over 5 million businesses, including Facebook, Airtel, BookMyShow, Ola, Zomato, Swiggy, Cred, ICICI Prudential among others, is all set to reach 10 million businesses by next year.
Investors such as GIC, Tiger Global, Sequoia Capital India, Ribbit Capital, Matrix Partners, Y Combinator and MasterCard have invested a total of $206.5 million through Series A, B, C & D funding. Around 33 angel investors have invested in Razorpay.