Beyond the pandemic, a major number of startups went ahead with their respective business, and increased significant funding to stay competitive, realize new opportunities. With that being said, the Indian Startup Community holds immense potential and quite a number of VCs are intending to invest in a startup for catering the needs to a customer-base of a widely spread market.
With more businesses switching to digital payment and moving online for transactions, Razorpay is riding the corona virus wave. According to an analysis by the company two out of three businesses on boarded on Razorpay are accepting digital payments for the first time. Pine Labs, FirstCry, Nykaa, Postman, Zerodha, Unacademy and Razorpay are the seven Indian Startups that became Unicorns.
Razorpay augments businesses in modernizing their financial infrastructure through intelligent automated payment. Furthermore, it provides banking solutions for managing the respective businesses’ overall cash-flow. FirstCry claims that it has served 2 lakh babies and kids with products across 2,000 brands. The company’s user base expanded to 4 plus million and it has a retail footprint of more than 300 stores located around 125 cities.
India now has more than 35 Startup unicorns, with several existing ones raising funds this year. According to a 2019 KPMG report, the average time that Indian Startups take to become a unicorn is 5 – 7 years. Established in 2014, Razorpay has reached the unicorn valuation in the 6th year of its inception.