GIC-backed Razorpay eyes group profit, expands to Singapore

Indian fintech firm Razorpay Software has earmarked group profitability as a key milestone on the road to a stock market listing, which it intends to stage within the next three years.

The GIC-backed company is focused on becoming profitable on a consolidated basis across all business verticals, said Shashank Kumar, co-founder and managing director of Razorpay in an interview with Bloomberg News. “We’re two to three years away from (an) IPO (initial public offering),” he added.

While its core payments segment is already profitable, Razorpay remains loss-making at the group level, with its neo-banking arm – which includes online lending – and offline payment service yet to break even.