Razorpay eyes IPO💸; Visa terminates card deals with FTX💳; Ambani in race to buy Liverpool⚽

Razorpay eyes IPO in two to three years, Visa terminates global debit card agreements with FTX, Ambani enters the race to buy Liverpool, Funding Deals and more.

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Nov 14, 2022

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Razorpay looking to go public in two to three years: cofounders💸

Razorpay is looking to go public over the next two to three years and doesn’t need to raise any more capital even as it continues to grow revenue at 100% annually, its founders Harshil Mathur and Shashank Kumar told.

Razorpay, which is valued at $7.5 billion, has already surpassed its annual gross transaction value (GTV) target of $90 billion for this year, hitting the $100-billion mark even as online businesses are starting to see a slowdown.

Mathur, Razorpay’s CEO, said while the tech world is in the throes of a slowdown, the broader India ecosystem is not seeing any dip in consumption, leading to growth in digital payments from sectors like education, travel and others. The Bengaluru-based fintech firm is also expanding aggressively into offline payments following its acquisition of Ezetap earlier this year.

Razorpay wants to go public with its payments, credit and neo-banking story, and international and offline payments.

Visa terminates global debit card agreements with FTX💳

Visa Inc, the world's largest payments processor, said it was severing its international credit card agreements with collapsed crypto exchange FTX.

"We have terminated our global agreements with FTX and their U.S. debit card program is being wound down by their issuer."

FTX and Visa had announced an expanded partnership in early October, including plans to introduce account-linked Visa debit cards in 40 new countries.

Global Dental Services (GDS) raised $66 million from Investcorp, Tybourne Capital Management, SeaLink Capital Partners, and existing investors.
Pune-based fintech SaaS startup Lentra has scooped up $60 million in a Series B round led by existing investors Bessemer Venture Partners and the Susquehanna International Group (SIG) Venture Capital.
Early-stage venture capital firm Z21 Ventures has set up a $5-million fund to invest in early-stage companies that are looking to drive growth by leveraging technology and talent in India.

Funding Deals

Mukesh Ambani enters the race to buy Liverpool⚽

Mukesh Ambani, chairman and managing director of Reliance Industries, is reportedly eyeing up a bid to take over Liverpool after the club was put up for sale by their current owners Fenway Sports Group (FSG).

According to the Mirror, the FSG is willing to sell for £4bn, and there is a greater desire to buy the Merseyside club outright. Ambani, with a net worth of around £90billion and rated by Forbes as the eighth richest person in the world, has already enquired about the club.

FSG, who took charge of the Liverpool club in 2010, stunned the footballing world earlier this week when they said they would be open to listening to offers for the club.