Total amount raised
$93.9 Millions
Latest funding date
02/01/2025
Location
Cashfree Payments has successfully raised significant capital through multiple funding rounds, with the latest being a Series C round. The company is backed by prominent investors, including Krafton, Apis Partners, SBI, Y Combinator, and PayPal.
Keep reading to explore the intricacies of Cashfree Payments' fundraising journey and the investors supporting this innovative platform.
What Is Cashfree Payments?
Cashfree Payments, founded in 2015 by Akash Sinha and Reeju Datta, is a fintech company based in Bengaluru, Karnataka, India. The company specializes in providing payment processing, payouts, and API banking solutions for businesses. With a workforce of 501-1000 employees, Cashfree Payments serves over 800,000 businesses and processes more than USD 80 billion annually.
How Much Funding Has Cashfree Payments Raised?
- Seed Round
- Amount Raised: $120K
- Date: August 2017
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop its initial payment solutions.
- Series A
- Amount Raised: $5.5M
- Date: April 2019
- Lead Investors: Smilegate Investment
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and scale operations to meet growing demand.
- Series B
- Amount Raised: $35.3M
- Date: November 2020
- Lead Investors: Apis Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance payment solutions and expand market outreach.
- Series B
- Amount Raised: Not publicly disclosed
- Date: April 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and operational needs.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: June 2021
- Lead Investors: State Bank of India
- Valuation at Round: $200M
- Motivation Behind the Round: To support the company's growth and operational needs.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: May 2023
- Lead Investors: Trifecta Capital Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and operational needs.
- Series C
- Amount Raised: $53M
- Date: February 2025
- Lead Investors: Krafton
- Valuation at Round: $700M
- Motivation Behind the Round: To accelerate payment offerings, boost market outreach, and support international expansion.
Total Amount Raised: $93.92M
Current Valuation: $700M
Key Investors
Here are the major investors in Cashfree Payments along with key details about each:
- Krafton
- Details: Krafton is a South Korean digital entertainment company known for developing and publishing video games. It is best known for its popular game PUBG (PlayerUnknown's Battlegrounds).
- Investment Focus Areas: Digital entertainment, gaming, innovative technology solutions.
- Notable Investments: PUBG Corporation, Bluehole Studio.
- Apis Partners
- Details: Apis Partners is a UK-based private equity firm that manages growth funds. They focus on financial services and related sectors, particularly in growth markets.
- Investment Focus Areas: Financial services, financial infrastructure, fintech.
- Notable Investments: Greenlight Planet, Star Health.
- Trifecta Capital Advisors
- Details: Trifecta Capital Advisors is a venture debt firm in India. They provide growth-stage companies with the capital needed to scale their operations.
- Investment Focus Areas: Growth-stage companies across various sectors.
- Notable Investments: BigBasket, UrbanClap.
- State Bank of India
- Details: State Bank of India (SBI) is the largest public sector bank in India. It offers a wide range of banking and financial services.
- Investment Focus Areas: Banking, financial services.
- Notable Investments: Various fintech and financial services companies.
- Smilegate Investment
- Details: Smilegate Investment is a South Korean venture capital firm. They focus on technology, gaming, and healthcare sectors.
- Investment Focus Areas: Technology, gaming, healthcare.
- Notable Investments: Kakao Games, Toss.
What's Next for Cashfree Payments?
Cashfree Payments is poised to seize significant opportunities in the fintech landscape, particularly through international expansion in the Middle East. With a robust annual processing volume of $80 billion and a growing merchant base, the company is well-positioned to leverage its strategic partnership with KRAFTON to fuel innovation and enhance its payment solutions.
Future fundraising efforts are likely to attract continued interest from strategic partners and private equity funds, supporting Cashfree's ambitious growth plans. However, the company must navigate challenges such as regulatory compliance in new markets and the increasing threat of fraud, ensuring sustainable and profitable growth while scaling operations.
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