After working for Google and having his entire career in the US for 8 years, Punit Soni is back and have been in news ever since. Firstly for Flipkart’s application that intends to make shopping more real, Google’s former employe have recently confirmed his news of making a personal investment in RazorPay. He confirmed his investment at a TiE conference in Santa Clara, California.Although, he didn’t respond to any of the email queries about the stake purchased or quantum investment.
RazorPay is the first Indian startup to get the Ycombinator backing (this year). The company provides Gateway Solutions for Indian Organisations which provide an easy way to integrate payment gateway solutions. These solutions blends with the users website which doesn’t let user leave the website. Last year, for trying to solve the hassle of paying taxes, Cleartax got picked. RazorPay aims to make a platform that helps small organizations in India to accept payments (online) in an affordable, easy and secure manner.
Along with working for Flipkart, Soni is also an advisor alongside an investor in two-US based companies. According to his LinkedIn profile, the companies in which he is involved in are, the messaging app ‘Snowball’ and the mobile engagement platform ‘Phigital’. Shashank Kumar, CEO of RazorPay, stated that his investment took place through a lot of networking.
After raising $120,00 i.e.(Rs 76 lakh) last December, RazorPay starts competing with various payment gateways like PayU and Zaakpay. The company is an year old and is still raising funds for an angel round. Apparently, Punit Soni isn’t the only one who has invested in this company (RazorPay). The co-founder at the US-based book membership, Tikhon Bernstam, has also invested in it. RazorPay has been able to get these investors because of their unique selling proposition which has been able to reduce hassles for merchants who sell their wares online.
