Startups onboarded through MSH will gain complimentary access to Razorpay's suite of products—including its payment gateway, payout solutions, and corporate credit cards.
Joining him on the executive council are Harshil Mathur, CEO and Co-founder of Razorpay, as Vice Chairman, and Sameer Nigam, Founder and CEO of PhonePe, as Treasurer.
Focusing on the sectoral trends, Fintech (50 startups), E-commerce (16), and Logistics (13) are leading India's profit-first growth. Regionally, Delhi NCR emerged at the top with 51 Indicorns, followed by Bengaluru (42) and Mumbai (35).
Razorpay has launched the Razorpay Venture Investment Programme in partnership with Peak XV Partners and Lightspeed, investing up to USD 1 million per startup to support 10-15 early-stage startups annually.
The fund will focus on investing in follow-on rounds of breakout companies from its seed portfolio, using high-signal data to make strategic, informed investments.
The report claims to analyze over 10 million transactions processed on Razorpay's platform in the last two years, between April 1, 2021, and July 31, 2023
The newly launched product claims to allow customers of online merchants to make UPI payments directly without getting redirected to a third-party UPI app during checkout
The company said it plans to deploy the new funds to strengthen RazorpayX, neo-banking platform and lending arm Razorpay Capital and hire about 500 employees by FY2021