India's Cashfree Payments secures $53m in funding
Indian fintech firm Cashfree Payments has garnered $53m in a financing round led by Korean company KRAFTON.
Current investor Apis Growth Fund II, managed by Apis Partners Group, also contributed to the round.
Using this infusion, Cashfree looks to ramp up its payment offerings and expand its market outreach.
The company is known for enabling businesses to collect payments and make payouts online, supporting integration with Shopify, Wix, WordPress, and WooCommerce.
Its offerings include one-click checkout, abandoned cart recovery, and return prediction features that aim to improve the payment experience.
The introduction of Embedded Payments by Cashfree allows platforms, ERPs, and SaaS businesses to integrate payment capabilities directly into their products.
Additionally, Cashfree's Secure ID, an identity verification stack complete with APIs and KYC components, is designed to combat fraud. It has concluded over one billion verifications so far.
Cashfree Payments CEO and co – founder Akash Sinha said: 'We are excited to welcome KRAFTON as a strategic partner with continued support from our existing investors, Apis Growth Fund II and the team at Apis Partners.
'This investment will help us accelerate our key efforts – across cross-border and security innovations and international expansion – as we enter the next phase of our growth journey.'
KRAFTON India CEO Sean Hyunil Sohn stated: 'India's fintech industry is experiencing remarkable growth, and we believe Cashfree Payment's dominant position in India can be replicated globally.
'The investment is part of KRAFTON's ongoing efforts to support innovative solutions that drive growth and foster a dynamic startup ecosystem.'
Apis Partners co-founders and managing partners Matteo Stefanel and Udayan Goyal commented: 'As an industry leader with a history of pioneering innovations, Cashfree Payments' proven track record continues to put it in a leadership position. We are excited to extend our support for its continued growth and success.'
In FY 2025, the company said that it has recorded a 130% increase in merchant signups and anticipates revenue growth, processing $80bn annually and works with 800,000 businesses.
Last year, it was authorised as payment aggregator (PA -CB) by the Reserve Bank of India to handle both domestic and cross-border payments.
Cashfree also intends to extend its reach into the UAE.
"India's Cashfree Payments secures $53m in funding " was originally created and published by Electronic Payments International, a GlobalData owned brand.
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