India’s fintech firm Cashfree Payments has raised US$53 million (INR 450 crore) in a funding round led by KRAFTON, the South Korean digital entertainment company behind PUBG, alongside Apis Growth Fund II, managed by Apis Partners.
The funding will enhance Cashfree’s payments infrastructure and expand its market reach.
The partnership with KRAFTON is expected to drive innovation across digital sectors.
Cashfree provides businesses with online payment collection and payout services, integrating with platforms like Shopify, Wix, WordPress, WhatsApp, and WooCommerce.
It enables quick onboarding, one-click checkout, abandoned cart recovery, and return prediction.
The company claims to process 12,000 transactions per second during peak demand and offers embedded payments, allowing platforms, ERPs, and SaaS providers to integrate payments seamlessly.
CEO Akash Sinha said,
“We are excited to welcome KRAFTON and continue our partnership with Apis. This investment will accelerate our efforts in cross-border payments, security innovations, and international expansion. We remain committed to sustainable and profitable growth.”
Cashfree recently launched SecureID, an identity verification system with APIs and KYC solutions to combat fraud. It has processed over one billion identity verifications to date.
In FY25, merchant signups rose 130%, with projected revenue growth driven by higher engagement from existing clients.
Cashfree processes US$80 billion annually and serves 800,000 businesses, including Swiggy, redBus, Zepto, and Bajaj Finance.
Authorised by the Reserve Bank of India as a payment aggregator, Cashfree also operates in the UAE, aiming to expand across the Middle East.
Featured image credit: edited from freepik
