Tiger-Backed Razorpay Eyes Group Profit, Expands to Singapore
Indian fintech firm Razorpay Software has earmarked group profitability as a key milestone on the road to a stock market listing, which it intends to stage within the next three years.
The Tiger Global Management -backed company is focused on becoming profitable on a consolidated basis across all business verticals, said Shashank Kumar, co-founder and managing director of Razorpay in an interview with Bloomberg News. 'We're 2-3 years away from IPO,' he added. While its core payments segment is already profitable, Razorpay remains loss-making at the group level, with its neo-banking and lending services yet to break even.
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