Razorpay acquires majority stake in Curlec

Fintech unicorn Razorpay has acquired a majority stake in Curlec in a deal that values the Malaysian payments startup at over $19 million.

Razorpay will fully acquire the company later in 18 months. 

The Kuala Lumpur-based Curlec builds solutions for recurring payments for businesses. This marks Razorpay’s fourth acquisition overall and its first in a foreign country.

Prior to this, Razorpay acquired TERA Finlabs, (AI-based risk tech SaaS Platform) in 2021, Opfin (Payroll & HR management solution) in 2019 and Thirdwatch (Fraud Analytics AI- platform) in 2018.

Razorpay claims to have more than 8 million B2B customers including the likes of Facebook, Ola, Zomato, Swiggy, Cred and achieved $60 billion in total payment volume (TPV) as of early December 2021.