Cashfree Payments, a leading payments solutions startup, has raised $53 million (approximately Rs 450 crore) in a funding round led by South Korean digital entertainment giant KRAFTON. The round also saw continued backing from existing investor Apis Growth Fund II, managed by Apis Partners Group (UK) Limited.
The Bengaluru-headquartered company plans to leverage this fresh infusion to expand its market presence and accelerate its global growth strategy. The startup has witnessed a 130% increase in merchant signups in FY25 compared to previous years, driven by its seamless onboarding and integration capabilities. Cashfree supports major merchant platforms like Shopify, Wix, WordPress, WooCommerce, and WhatsApp, enabling businesses to commence transactions within a day. Features such as one-click checkout, abandoned cart recovery, and return prediction further enhance user experience, boost conversions, and drive profitable growth.
With a robus infrastructure directly connected to major payment networks, Cashfree ensures high transaction success rates and scalability, processing up to 12,000 transactions per second during peak demand. Its Embedded Payments solution empowers platforms, ERPs, and SaaS businesses to integrate payment functionalities effortlessly and compliantly into their systems.
“We are excited to welcome KRAFTON as a strategic partner, alongside continued support from Apis Growth Fund II and the team at Apis Partners. This investment will help us accelerate our efforts across cross-border payments, security innovations, and international expansion,” said Akash Sinha, CEO and Co-Founder of Cashfree Payments. “Growing sustainably has been core to our identity, and we remain focused on driving profitable growth as we scale.”
In its latest innovation, Cashfree launched Secure ID, an advanced identity verification stack designed to address the rising need for fraud prevention. Secure ID provides fintech companies and startups with comprehensive APIs and KYC components, enabling seamless onboarding, reducing user drop-offs, and detecting fraudulent activities with high accuracy. To date, Secure ID has facilitated over one billion identity and user verifications.
Currently processing $80 billion annually and catering to over 800,000 businesses, including Swiggy, redBus, Zepto, Big Basket, and Bajaj Finance, Cashfree is licensed by the Reserve Bank of India to operate as a payment aggregator for both domestic and cross-border transactions, as well as to issue prepaid instruments.
Also Read | Cashfree Payments Gets RBI’s Prepaid Payment Instrument Licence
Expanding beyond India, Cashfree is strengthening its presence in the UAE, tapping into high-growth opportunities in the Middle East.
“India’s fintech industry is experiencing phenomenal growth, and we believe Cashfree’s leadership in India can be replicated on a global scale. As media consumption and entertainment continue to evolve, full-stack payment solutions tailored to the sector’s needs will be crucial in enhancing user experience,” said Sean Hyunil Sohn, CEO of KRAFTON India.
