India’s Cashfree Payments has secured $53 million in a funding round led by Korean digital entertainment platform Krafton, with participation from existing investor Apis Partners.
Businesses leverage Cashfree Payments to accept payments from over 100 payment methods, facilitate payouts, execute cross-border transactions, enhance conversions through one-click checkouts, recover abandoned carts, and minimize returns. The payment platform is further strengthened by identity verification tools, KYC components, and an embedded payment solution designed for ERPs and SaaS businesses.
Established in 2015 and initially incubated by PayPal, Cashfree Payments processes transactions totaling $80 billion annually for more than 800,000 businesses, ensuring easy integration and compatibility with popular merchant platforms such as Shopify, Wix, WordPress, WooCommerce, and WhatsApp.
In FY25, Cashfree has observed a remarkable 130% growth in merchant signups compared to previous years and expects strong revenue growth, driven by an increased wallet share from existing customers and cross-selling opportunities within its client base.
Akash Sinha, CEO and co-founder of Cashfree Payments, stated, “This investment will enable us to accelerate our core initiatives in cross-border and security innovations, as well as international expansion as we embark on the next phase of our growth journey. Our focus is on achieving profitable growth as we scale. Our mission is clear: to deliver long-term value for our customers and to lead innovation in the payments sector, both in India and on a global scale.”