Harshil Mathur and Shashank Kumar, the co-founders of Razorpay, have become two of India’s youngest billionaires at just 33 years old. But who are they, what have they achieved, and how did they reach such heights? According to the Hurun Rich List 2024, the duo’s combined wealth is approximately ₹8,700 crore, with their net worth estimated at $1.03 billion by Y Combinator. Their journey, however, was anything but smooth. They faced over 100 rejections from investors before finding someone willing to support their vision. Despite these challenges, they persevered, building Razorpay into a company that now handles more than 30% of all internet payments in India.
Early Life And Education Of Razorpay Owner
Harshil Mathur’s journey began in Jaipur, where he completed his schooling at Seedling Public School. His passion for technology led him to pursue a BTech in Software Engineering at IIT Roorkee, where he graduated in 2009. During his time at IIT, Harshil was actively involved in various clubs, including SDSLabs, the Hobbies Club, and ASME, which helped him hone his technical skills and entrepreneurial spirit. After graduation, he joined Schlumberger in June 2014, but his entrepreneurial drive soon led him to leave the job in February 2014 to start his own business.
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Razorpay’s Breakthrough and Rapid Growth
In 2015, Harshil joined the Y Combinator W15 batch, a pivotal moment in his career. Under the mentorship of Paul Buchheit and Dalton Caldwell, Harshil and Shashank refined their business idea, eventually launching Razorpay. The company quickly gained traction, offering businesses a simple and effective way to accept online payments. Over the years, Razorpay’s valuation has skyrocketed from $1 billion to $7.5 billion (approximately ₹63,000 crore), reflecting its significant impact on the Indian fintech landscape.
Bengaluru: Tech Hub And Billionaires
Today, both Harshil and Shashank reside in Bengaluru, a city known for its successful tech ecosystem. Bengaluru is also home to 27 billionaires, including Wipro’s Azim Premji, who has been named the wealthiest person in the city according to the Hurun Rich List 2024. The success of Razorpay and its founders underscores the potential of innovation and perseverance in India’s burgeoning startup ecosystem.
Razorpay is a platform that streamlines financial transactions by providing an easy-to-use payment gateway for businesses and merchants. It facilitates online payments through various methods, including credit cards, debit cards, net banking, UPI, and digital wallets. The platform generates revenue by charging a transaction fee of only 2-3%. Additionally, Razorpay supports several prominent Indian wallets, such as JioMoney, Mobikwik, Airtel Money, Freecharge, OlaMoney, and PayZapp.
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