Razorpay finishes reverse flipping base from US to India

Bengaluru: Peak XV-backed digital payments firm Razorpay has completed the shifting of its domicile from the US to India, the firm confirmed on Thursday.

Razorpay's co-founder and MD, Shashank Kumar, said, "Yes, we’ve officially completed our reverse flip, and we couldn’t be more proud. This move marks a pivotal milestone in Razorpay’s journey.”

The fintech unicorn had turned into a public company last month, in preparation for its initial public offering (IPO) planned for after around two years.

“It is more than a structural move; it’s a powerful signal of belief. Belief in India’s economic future, our regulatory ecosystem, and in the incredible potential of homegrown innovation. We started Razorpay with a dream to build for India, and today, we’re doubling down on that dream by making India not just our largest market, but our global headquarters,” stated Kumar.

Numerous startups are also amidst similar headquarter shifts to India, such as Udaan, Pine Labs, and Meesho. Phone Pe, Groww, Zepto have completed the process. This comes in an environment of increasing startup IPOs, improving domestic funding, easing regulations in areas such as fintech, and a maturing economic environment.