In partnership with venture capital firms Peak XV and Lightspeed, fintech company Razorpay announced the Razorpay Venture Investment Program on Wednesday. The program will invest in more than 50 early-stage business-to-business (B2B) enterprises.
Every year, the company and its venture capital partners will invest in ten to fifteen early-stage startups, offering B2B startups at different stages of development financial, technological, and leadership support.
The initiative has the potential to raise up to $1 million for early-stage enterprises. Based in Bengaluru Razorpay is a business-to-business (B2B) omnichannel banking and payment platform.
"Over the next five years, India is expected to welcome an additional 10-15 unicorns in the B2B sector due to growing interest in supporting startups in this space," the company stated.
Razorpay's sandbox environments and API (Application Programming Interface) stack will be accessible to early-stage finance startups. This will cover product alliances, customer relationships, and introductions to the distribution network.
The company's founders and other members of the executive team will advise the entrepreneurs one-on-one. The program for the entrepreneurs will be run by Vishnu Acharya, Razorpay's head of strategy and corporate development.
"B2B is still, in my opinion, one of the most promising sectors with significant development potential. We hope to make this process easier with the Razorpay Venture Investment Programme by giving founders access to the best technology, partnerships, and coaching to enable them to innovate and grow more quickly," stated Harshil Mathur, co-founder and CEO of Razorpay.
