A leading fintech company, RazorPay, will pay around \u20b91,245 crore (about $150 million) in taxes to the Indian government when it moves its headquarters from the US to India, a process known as a \u201creverse flip.\u201d The company, valued at $7.2 billion in 2021, is planning to launch an IPO within the next two years.<\/p>\n\n\n\n
In a bid to reduce its overall tax bill, RazorPay merged its US parent company with its Indian unit and brought six Indian businesses under one local company. The reorganization helped reduce its US tax liability from $250\u2013300 million to around $200 million. Last month, the company officially became a public company and changed its name to RazorPay Software Limited.<\/p>\n\n\n\n
Founded in 2014 by Shashank Kumar and Harshil Mathur, RazorPay offers a range of services, including digital payments, banking, lending, insurance and payroll solutions, for small and medium businesses. The startup has raised over $740 million from leading investors such as GIC, Tiger Global and Lightspeed Ventures.<\/p>\n\n\n\n
RazorPay reported a net profit of \u20b933.5 crore in FY24, up 365% from \u20b97.2 crore in FY23. Its operating income also grew 9% to \u20b92,475 crore.<\/p>\n\n\n\n
RazorPay\u2019s move is part of a larger trend known as \u201cdesh vapsi\u201d, in which Indian startups are relocating their headquarters to India. Other startups following this trend include Flipkart, Septo, Pine Labs, Mensa Brands, Udaan, and Eruditus.<\/p>","protected":false},"excerpt":{"rendered":"
A leading fintech company, RazorPay, will pay around \u20b91,245 crore (about $150 million) in taxes to the Indian government when it moves its headquarters from the US to India, a process known as a \u201creverse flip.\u201d The company, valued at $7.2 billion in 2021, is planning to launch an IPO within the next two years.<\/p>","protected":false},"author":9,"featured_media":7884,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[11],"tags":[159,170,336,337,338],"class_list":["post-5230","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-news","tag-business-updates","tag-finance-updates","tag-payment-gateway-updates","tag-razorpay-in-business","tag-razorpay-updates"],"yoast_head":"\n