Shashank started Razorpay, along with Harshil Mathur, after discovering the dismal state of online payments in India. He graduated from IIT Roorkee and before taking the entrepreneurial route with Razorpay; Shashank also worked with Microsoft US as a Software Developer.
With an idea to change the way online payments function in India, Shashank quit his full time job. By early 2014, Razorpay was conceptualized with a vision to simplify online payments.
Three years since then, Razorpay rebranded itself in 2017 as Razorpay 2.0, a Converged Payments Solution company with a product suite designed to ease businesses of managing concerns around flow of money in their financial systems. Progressing in it’s journey that started with Razorpay 2.0, the Company recently launched neo-banking platform, Razorpay X and lending platform, Razorpay Capital – both designed to power the financial systems for disruptive companies.
Razorpay has been charting exponential growth since its inception. In the last five years, the company has powered digital payments for more than 1,000,000 small & large businesses such as Indigo, BSE, Thomas Cook, Reliance, SpiceJet, Aditya Birla, Sony and Oyo, among others. The company has been working towards enabling adoption of digital payments especially in traditional cash-rich sectors such as education, insurance and mutual funds, among others. The company has clocked in a healthy growth rate of 35% month-on-month and is geared up to increase the number of businesses to 1,400,000 by 2020. The Neo-banking platform expects a 4x growth in its revenue by the end of the next fiscal year.
Shashank was featured in an eclectic list of 30 promising young Indian talents under the age of 30, by Forbes Magazine (2017) and 40 Under 40 by Fortune India (2019).