Monday, July 13, 2026 Home
Startup Atlas · Business Banking / Neobanking

Razorpay Unicorn

● Bengaluru, Karnataka ● Founded 2014 ● razorpay.com ↗
Harshil Mathur · Co-Founder & CEO Shashank Kumar · Co-Founder & Managing Director
$739 MnTotal funding (tracked)
6Funding rounds
20 Dec 2021Last round

Razorpay: Financial Breakdown

Figures below are FY25, consolidated basis, compiled from filings and disclosures — every year cited to its source.

Consolidated revenue ₹3,783 Cr (+65% YoY vs ₹2,296 Cr in FY24)Total revenue · +82.9% YoY
Not separately disclosed as a single total-expenses line in source; gross profit reported at ₹1,277 Cr (+41% YoY vs ₹906 Cr in FY24)Total expenses
Online payments segment described as 'EBITDA-profitable' by CEO Harshil Mathur; no consolidated absolute EBITDA rupee figure disclosedEBITDA
Net loss ₹1,209 Cr, driven by ESOP-related expenses and one-time tax/restructuring costs (~₹1,245 Cr / $150M) tied to the May 2025 US-to-India reverse flipNet loss · swung to a loss (was a profit)

Revenue by fiscal year

Revenue from sales/operations ₹841.2 Cr; total revenue ₹844 Cr: $100.1MFY21Operating revenue ₹1,481.2 Cr (+76.1% YoY): $176.3MFY22Revenue from operations ₹2,279 Cr; total income ₹2,293 Cr: $271.3MFY23Payment gateway business revenue ₹2,068 Cr (+24% YoY); total income ₹2,501 Cr: $246.2MFY24Consolidated revenue ₹3,783 Cr (+65% YoY vs ₹2,296 Cr in FY24): $450.4MFY25

Net profit / loss by fiscal year

Net profit ₹7 Cr (standalone; turned profitable after FY20 loss of ₹6.1 Cr): $0.8MFY21Net profit ₹7.38 Cr (+19.2% YoY): $0.9MFY22Net profit ₹7.2 Cr (roughly flat vs FY22's ₹7.3 Cr despite 53.9% revenue growth): $0.9MFY23PAT ₹34 Cr, up ~4.7–5x from FY23's ₹7 Cr, aided by resumed merchant onboarding after RBI Payment Aggregator authorization (Dec 2023): $4MFY24Net loss ₹1,209 Cr, driven by ESOP-related expenses and one-time tax/restructuring costs (~₹1,245 Cr / $150M) tied to the May 2025 US-to-India reverse flip: $-143.9MFY25

Bars below the line are a net loss for that year.

Fiscal year Revenue Total expenses EBITDA Net profit / loss Source
FY25 Consolidated revenue ₹3,783 Cr (+65% YoY vs ₹2,296 Cr in FY24) Not separately disclosed as a single total-expenses line in source; gross profit reported at ₹1,277 Cr (+41% YoY vs ₹906 Cr in FY24) Online payments segment described as 'EBITDA-profitable' by CEO Harshil Mathur; no consolidated absolute EBITDA rupee figure disclosed Net loss ₹1,209 Cr, driven by ESOP-related expenses and one-time tax/restructuring costs (~₹1,245 Cr / $150M) tied to the May 2025 US-to-India reverse flip source
FY24 Payment gateway business revenue ₹2,068 Cr (+24% YoY); total income ₹2,501 Cr ₹2,454 Cr Not disclosed in source PAT ₹34 Cr, up ~4.7–5x from FY23's ₹7 Cr, aided by resumed merchant onboarding after RBI Payment Aggregator authorization (Dec 2023) source
FY23 Revenue from operations ₹2,279 Cr; total income ₹2,293 Cr ₹2,283 Cr EBITDA margin ~2.5% (Entrackr); absolute rupee figure not disclosed Net profit ₹7.2 Cr (roughly flat vs FY22's ₹7.3 Cr despite 53.9% revenue growth) source
FY22 Operating revenue ₹1,481.2 Cr (+76.1% YoY) ₹1,476.5 Cr EBITDA margin ~2.49% (Entrackr); absolute rupee figure not disclosed Net profit ₹7.38 Cr (+19.2% YoY) source
FY21 Revenue from sales/operations ₹841.2 Cr; total revenue ₹844 Cr ₹836.6 Cr operating expenses Not disclosed in source Net profit ₹7 Cr (standalone; turned profitable after FY20 loss of ₹6.1 Cr) source

Nothing here is blurred or gated — every figure Atlas has is shown in full, free.

Sources & corrections. Every fact on this page is compiled from cited public sources — follow the “source” links beside each entry. Profile sources: yourstory.com · Last verified 13 Jul 2026. · Report a correction