US-based global tech giant Salesforce Ventures on September 20 announced a strategic investment in digital payments platform Razorpay. Both the companies, however, did not disclose the quantum of investment.
The Bengaluru-based payments services firm, which was valued at over $3 billion in its last round of funding, said the investment will strengthen its presence in the business banking space.
In an exclusive interaction, Bret Taylor, President & COO of Salesforce told Moneycontrol’s Nisha Poddar that India is a priority market for the company and will see more investments in the coming days.
Edited excerpts –
Will India see more investments from Salesforce, like done in Razorpay?
Well, the short answer is yes, there’s more to come and India is a priority market for us. It’s actually our second largest employee base outside of the United States. We have an amazing CEO in Arundhati Bhattacharya and have seen incredible growth and momentum in this market.
What was the rationale behind making an investment in RazorPay?
India is a hub for innovation and talent and we’re really investing in that ecosystem. There’s a lot more to come there and I’m very excited about our leadership. I think we’ll continue to see a ton of growth in India.
Razorpay had announced its Series E fundraise of $160 million in April this year, which tripled the company’s valuation to $3 billion in less than six months since it became a unicorn (a startup valued at $1 billion). The round was co-led by its existing investors GIC and Sequoia India, and also saw participation from Ribbit Capital, Matrix Partners, and Tiger Global.Internet Explorer Channel Network