Razorpay, India’s leading omnichannel payments and banking platform, has been honoured by Forbes as part of the prestigious Cloud 100 List for 2024 for its ongoing quest to develop innovative and resilient payment and banking solutions for businesses. This accolade recognises the company’s innovation and leadership in the cloud technology sector and positions Razorpay among global disruptors in the cloud and AI technology revolution, including OpenAI, Databricks, Canva, and Airtable. This marks Razorpay’s third consecutive inclusion in this distinguished list.
This year, the Nasdaq Stock Market in New York City celebrated each Cloud 100 honoree individually on the Times Square Tower, emphasising the significance of this achievement. The Cloud 100 list acknowledges standout technology companies, ranging from small startups to private-equity-backed giants. A panel of 25 judges, composed primarily of public cloud CEOs, selected and ranked the top 100 companies using a combination of quantitative and qualitative factors.
The evaluation process involved four factors: estimated valuation (30%), operating metrics (20%), people and culture (15%), and market leadership (35%), which the judging panel then weighed to select, score, and rank the winners. This year’s list highlights companies that have effectively harnessed the power of AI and strategically positioned themselves for potential IPOs, aiming to capitalize on their growth and market leadership in the near future.
Expressing his excitement on being featured in this prestigious list, Harshil Mathur, CEO and Co-founder of Razorpay said, “Being featured on the Forbes Cloud 100 list for the third time is an incredible honor for us at Razorpay. To be one of the few Indian companies on this prestigious list is not just a proud moment for us, but a testament to the potential and impact of India’s financial technology sector on the global stage. Over the years, our relentless focus on building a business-centric platform has driven our growth, and this recognition reinforces our belief that we are on the right path. We’re more committed than ever to empowering businesses with innovative payment solutions that drive real value and want to continue setting a new benchmark for others to follow.”
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“Hearty congratulations to all the companies across the globe that have made it to this list,” he added.
Razorpay anticipates that the Digital P2M Payments market in India will continue to grow exponentially, reaching $4 trillion by 2030. Recognising the ever-expanding potential for startups, freelancers, and enterprises, the company will continue to invest in building an intelligent real-time financial infrastructure, supported by next-gen AI technologies, to help businesses scale and meet their ever-evolving payment and banking needs.
