Indian payments unicorn Razorpay buys risk management startup TERA Finlabs
Razorpay Founders (L-R), Harshil Mathur & Shashank Kumar
July 19, 2021
Business payments and financial services startup Razorpay on Monday said it has acquired artificial intelligence (AI)-based risk analysis platform, TERA Finlabs, marking its third acquisition since inception.
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The round also saw participation from Ribbit Capital and Matrix Partners.
All employees who hold vested stocks will be eligible to sell up to 33% of their ESOP shares.
Razorpay is in discussions with GIC and others to raise up to $200 million in fresh funding.
The funding round reportedly values the company at a little over $1 billion.
