India's Cashfree Payments has raised $53 million in a funding round led by Korean digital entertainmnet platform Krafton, alongside existing backer Apis Partners.
Businesses use Cashfree Payments to collect payments from 100+ payment methods, make payouts, make cross-border payments, improve conversions with a one-click checkout, recover abandoned carts, and predict and reduce returns.
The payment stack is complemented by identity verification tools and KYC components and an embedded payment platform for ERPs and SaaS businesses.
Founded in 2015 and incubateed by PayPal, Cashfree Payments processes transactions worth $80B annually for more than 800,000 businesses, embracing easy integration and compatibility with popular merchant platforms like Shopify, Wix, Wordpress, WooCommerce, and WhatsApp.
In FY25, Cashfree has seen merchant signups grow 130% as compared to previous years and anticipates robust revenue growth, driven by increased wallet share from existing customers and cross-selling to its client base.
Akash Sinha, CEO & co-founder, Cashfree Payments, says: “This investment will help us accelerate our key efforts - across cross-border and security innovations and international expansion - as we enter the next phase of our growth journey. We are focused on driving profitable growth as we scale. Our mission is clear: to create long-term value for our customers and lead innovation in the payments space, both in India and internationally.”