Cashfree Payments Secures USD 53 Mn Funding Led by KRAFTON and Apis Growth Fund II With the fresh funds, the platform aims to bolster Cashfree's payments offerings, expand market outreach, and accelerate innovation across various digital sectors.
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Indian payments firm Cashfree Payments has raised USD 53 million (around INR 450 crore) in a funding round led by Korean digital entertainment giant KRAFTON and existing investor Apis Growth Fund II, managed by Apis Partners Group.
The capital infusion aims to bolster Cashfree's payments offerings, expand market outreach, and accelerate innovation across various digital sectors.
Akash Sinha, CEO and Co-founder of Cashfree Payments, said, "We are excited to welcome KRAFTON as a strategic partner, alongside continued support from Apis Growth Fund II. This investment will fuel our efforts in cross-border and security innovations and help us expand internationally. As we scale, our focus remains on driving profitable growth, creating long-term value for customers, and leading innovation in the payments space."
Founded in 2015, Cashfree Payments supports more than 100 payment methods, enabling businesses to collect payments, make payouts, and handle cross-border transactions. Its features, including one-click checkout, abandoned cart recovery, and return prediction, enhance payment experiences and boost conversions.
It claims to process transactions worth USD 80 billion annually for over 800,000 businesses. It
Cashfree boasts an industry-leading capability to handle 12,000 transactions per second, ensuring seamless scalability during peak demand. Its SecureID platform offers identity verification solutions, streamlining KYC processes and fraud detection. To date, SecureID claims to have completed over 1 billion verifications, proving its reliability and impact.
Sean Hyunil Sohn, CEO of KRAFTON India, said, "India's fintech industry is witnessing remarkable growth, and we believe Cashfree's leadership in India can be replicated globally. Full-stack payment systems tailored to evolving consumer needs are crucial, and we are excited to support Cashfree in this journey."
Matteo Stefanel and Udayan Goyal, Co-founders of Apis Partners, remarked, "Cashfree Payments continues to demonstrate leadership through innovation. This investment aligns with our philosophy of achieving strong returns while driving positive societal impact."
In FY25, Cashfree reported a 130% increase in merchant signups and anticipates robust revenue growth from existing customers and new markets. Trusted by leading Indian brands like Swiggy, redBus, and Zepto, Cashfree is also expanding into the UAE and Middle East, seeing immense potential for its payment solutions.
As one of the entities authorised by the Reserve Bank of India as a payment aggregator, Cashfree is well-positioned to lead the digital payments revolution in India and beyond.
