Neobanking firm ‘Razorpay’ has launched Corporate Credit Card for Start-ups and SMEs and has also unveiled e-payments for freelancers and homepreneurs.
The company has recently acquired Opfin, a cloud-based payroll management solution, that automates the entire payroll money disbursement for any business, end-to-end.
Harshil Mathur, CEO and Co-founder of Razorpay, said, “It’s important to think about financial inclusion not just in terms of consumers but also in terms of businesses. Today, many of the existing solutions businesses use to manage their finances aren’t well-suited for modern internet companies. The move we have made today, helps us expand our horizon in payments and banking and solve new challenges for ambitious businesses who are wanting to disrupt the Indian economy. We want to make banking trivially simple and accessible for our partner businesses so that while they focus on building new ideas, products and experiences, we take care of their concerns around financial processes.”
Razorpay’s acquisition of Opfin, is aimed at providing seamless automation for a business’s complete payroll process. With Opfin, Razorpay plans to make the disbursement a lot easier via robust technology and an enhanced experience.
This acquisition is a pivotal part of RazorpayX’s business banking strategy. RazorpayX is an AI-led neo-banking platform, where businesses can make a lot more innovations with Razorpay that they were doing with banks lately.
Razorpay’s Corporate Credit Cards for SMEs and Startups, in association with RBL as the company’s banking partner, clears problem pertaining to the access to credit, short term credit, reconciliation, expense filing and help businesses lead a healthy financial life.