The newly minted unicorn, whose business trebled in a pandemic year, currently employs 1,300 people—of which 550 came on board in the last year itself. The fintech startup has also created cross-functional growth opportunities for its existing employees, who will continue to work from home for the next few months.
Of the 650 new positions, 350 will join engineering and product teams, and the rest will go to customer experience, sales and marketing departments. The firm’s primary focus is towards expanding these teams across levels.
“Our hiring plans are being driven by more investment in product development, customer experience and new additions to the existing product suite so that we cater to the ever-evolving payments and banking needs of SMEs and MSMEs,” said Chitbhanu Nagri, senior vice-president-people operations at Razorpay.
The Bengaluru-based startup currently powers payments for more than five million businesses in India, including prominent brands such as Facebook, Airtel, Ola, Zomato and Swiggy. It aims to reach 10 million businesses by next year.
Razorpay’s investors include GIC of Singapore, Tiger Global, Sequoia Capital India, Ribbit Capital, Matrix Partners, Y Combinator and MasterCard.