Within a week of raising $75 million Series C round, founders of Razorpay – Harshil Mathur and Shashank Kumar – have amended their board rights.
Till date, Razorpay has five board seats where founders and existing backers Tiger Global, Sequoia Capital, and Ribbit Capital hold one seat each. Now, Mathur and Kumar will have four votes as opposed to three votes of investors. The development indicates a good for overall startup ecosystem sign as founders are having more control over the company than investors. (Source)
