The Indian fintech startup Cashfree Payments has raised $53 million in a Series C funding round to accelerate the market growth of its innovative payment solutions across multiple digital sectors.
Cashfree Payments, an Indian payment solutions provider incubated by PayPal, has secured $53 million in its latest funding round led by South Korean game developer Krafton, with participation from existing investor – private equity asset manager Apis Partners.
The fintech company, established in 2015, offers a range of financial services, including payment collection from over 100 methods, payouts and instant bulk disbursals, recurring billing solutions, cross-border transactions, one-click checkout for merchants, BaaS, and identity verification tools.
Cashfree Payments focuses on seamless transactions, security, and compliance to support businesses in India and globally. In 2024, it received the payment aggregator cross-border and prepaid payment instrument licenses from RBI to expand the range of the offered solutions. The fintech also secured NPCI certification for its own UPI switch, which enables it to offer a settlement of around 12,000 transactions per second.
Cashfree Payments processes over $80 billion annually for more than 800,000 businesses. Its partners include Swiggy, redBus, Zepto, BigBasket, Bajaj Finance, and more. At present, the company mostly deals with local, Indian-based businesses. However, in the last few years, Cashfree Payments has also expanded its presence to the United Arab Emirates (UAE) through its acquired partner, Telr. The company plans to further expand its global footprint to 15 to 18 countries in the coming years.
According to the company’s data, in the fiscal year 2025, Cashfree Payments saw a 130% increase in merchant sign-ups compared to previous years. This year, the firm anticipates further significant revenue growth through expanded services to existing clients.
The fresh funding will help the company boost its market presence, fuel innovation, and expand internationally. Cashfree Payments CEO and co-founder Akash Sinha stated that the investment will particularly accelerate the firm’s efforts in cross-border and security innovations, with a focus on driving profitable growth while scaling the business.
Overall, Cashfree Payments has raised a total of $93.9 million in funding over seven rounds. It is funded by 11 different investors. With the addition of Krafton to the investor list, the company receives not only funding but also possibilities to expand its services to the digital entertainment sector.
“As the media and entertainment sector and content consumption patterns in India continue to evolve, full-stack payment systems that specifically address the needs of the sector are crucial for enhancing user experience. This investment is part of Krafton’s ongoing efforts to support innovative solutions that drive growth and foster a dynamic startup ecosystem.”
Sean Hyunil Sohn, CEO, Krafton India
