Razorpay elevates Rahul Kothari as COO amid global expansion plans
Kothari, who was working as the CBO, will now work towards guiding the company's business strategies to achieve sustained and exponential revenue growth across all businesses and revenue lines, in India and Malaysia, the firm said in a statement.
Fintech unicorn has elevated Rahul Kothari as chief operating officer for India and Malaysia, as the company expands its footprint globally, starting with the Southeast Asia region.
Kothari, who was working as the chief business officer (CBO), will now work towards guiding the company's business strategies to achieve sustained and exponential revenue growth across all businesses and revenue lines, in India and Malaysia, the firm said in a statement.
He will also be working towards identifying new opportunities to enhance customer experience and amplify the efficiency and synergy of internal systems, processes, and business structures. Additionally, he will also lead initiatives to strengthen partnerships with external stakeholders, it added.
"This appointment represents a pivotal moment in our journey, where innovation meets precision, and vision converges with execution. His deep expertise and relentless dedication will be the cornerstone of our mission to redefine the future of payments and financial technology on a global scale," said CEO and Co-founder Harshil Mathur.
With over 21 years of experience across the markets of United States, Europe, Australia, and India, Kothari joined Razorpay in 2019 after a three-year stint at PayU as CBO wherein he was credited for turning the payments business profitable.
He has also held leadership roles at Symantec, WNS, and Boston Consulting Group.
Founded by Shashank Kumar and Mathur, Razorpay made its international foray last year with the acquisition of a majority stake in Malaysian fintech firm Curlec.
Razorpay announced the launch of its first international payment gateway for the Malaysian market with Curlec last week. The firm is now eying Indonesia, Vietnam, and The Philippines market for expansion into Southeast Asia.
The fintech startup raised $375 million in funding in December 2021, at a valuation of $7.5 billion. The Series F round was co-led by existing investors Lone Pine Capital, Alkeon Capital and TCV, Tiger Global, Sequoia Capital India, GIC, and Y Combinator.
Razorpay's total revenue for FY22 jumped 75% to Rs 1,485.7 crore from Rs 844.6 crore. The startup, which had turned profitable in FY21 on a standalone basis, recorded a profit of Rs 7.3 crore, up 18% in FY22. It is yet to post profits on a consolidated basis.
Edited by Affirunisa Kankudti