Cashfree, a prominent Indian payments startup operating in the rapidly evolving payment landscape, secured $53 million in new funding to expand its international footprint, especially in the UAE and Middle East. Led by Krafton, known for popular games like PUBG, this Series C financing values Cashfree at $700 million. Supported by a surge in merchant sign-ups and its robust technology for transaction processing, Cashfree aims to enhance payment capabilities to accommodate India’s growing media and entertainment sectors. The firm positions itself effectively within a competitive space after receiving backing from key investors like Y Combinator.
Cashfree, an Indian payments startup, raised $53 million to enhance its international presence, processing over $80 billion annually for 800,000 businesses.
Krafton's unusual investment in Cashfree highlights the importance of robust payment systems in India's evolving media and entertainment market.
The startup's rapid growth is marked by a 130% increase in merchant sign-ups this fiscal year, indicating strong demand for its services.
Cashfree, endorsed by iconic backers like Y Combinator, now aims to deepen its reach in UAE and Middle Eastern markets.
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