Razorpay Makes History as First Indian Company on Forbes Cloud 100 List 2024

Razorpay Honoured as the Only Indian Company to Feature in 'Forbes Cloud 100 List' 2024, Joins Global Titans in AI and Cloud Technology

Bengaluru (Karnataka) [India], August 14: In its constant endeavor to build innovative and resilient payment and banking solutions for businesses, Razorpay, India's Leading Omnichannel Payments and Banking Platform for Businesses has been recognised by Forbes as part of the prestigious Cloud100 List for 2024. The company has been apprehended for its innovation and leadership in the cloud technology sector and for being one of the disruptors in the cloud and AI technology revolution globally. This places Razorpay amongst world leaders such as OpenAI, Databricks, Canva, Airtable, to name a few. The Fintech giant has entered this distinguished list for the third consecutive time and this year, the Nasdaq Stock Market in New York City celebrated each Cloud 100 honoree individually on Times Square Tower.

Razorpay featured on 'Forbes Cloud 100 2024' list for third time in a row; Open AI, Databricks take top slots | Mint

Razorpay has been included in the Forbes Cloud 100 list for 2024, which was released on August 6. This is the company's third consecutive appearance on the list. Harshil Mathur-led Indian payments gateway platform Razorpay has been included in the Forbes Cloud 100 list for 2024. This is the company's third consecutive appearance on the Forbes list of the top 100 cloud-computing private companies in the world. The list was released on August 6, 2024. Razorpay remains the only Indian company featured on the list, along with global AI giants such as Open AI, Databricks, Stripe and Canva. "Being featured on the Forbes Cloud 100 list for the third time is an incredible honour for us at Razorpay. To be the only Indian company on this prestigious list is not just a proud moment for us, but a testament to the potential and impact of India's financial technology sector on the global stage," said Harshil Mathur, chief executive officer and co-founder of Razorpay. Razorpay ranks as the 70th entrant on the Forbes Cloud 100 list of companies, which highlights companies that are AI challengers and standouts in the fintech industry. The payment gateway company has nearly 3,300 employees and has raised close to $742 million in funding from its Series A to Series F rounds, according to the list. Razorpay raised money from investors such as Lone Pine Capital, Alkeon Capital, TCV, GIC, Tiger Global, Sequoia, Capital India, Ribbit Capital, Matrix Partners, Salesforce Ventures, Y Combinator, and MasterCard. The companies featured on the list have received funding from Bessemer Venture Partners and Salesforce Ventures, and the company data collected for the list was compiled through their help, according to the Forbes list methodology. "The evaluation process involved four factors: estimated valuation (30 per cent), operating metrics (20 per cent), people and culture (15 per cent), and market leadership (35 per cent), which the judging panel then weighed to select, score, and rank the winners," reported PTI, quoting a Newsvoir press release. "Recognizing the ever-expanding potential for startups, freelancer, and enterprises, the company will continue to invest in building an intelligent real-time financial infrastructure, supported by next-gen AI technologies to help businesses scale and meet their ever-evolving payment and banking needs," said the company in the statement. Razorpay is a private startup co-founded by Harshil Mathur and Shashank Kumar. This year's list highlights companies that have harnessed the power of AI and strategically positioned themselves for potential IPOs and market leadership.