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Tag: Cashfree Payments

  • Cashfree Payments secures $53 million in funding round led by Krafton

    Cashfree Payments secures $53 million in funding round led by Krafton

    MUMBAI: Digital payments are moving at breakneck speed, and Cashfree Payments is keeping pace like a fintech sprinter on a caffeine high. The company has just bagged a cool $53 million (Rs 450 crore) in a funding round led by Korean digital entertainment giant Krafton, with continued backing from Apis Growth Fund II, managed by Apis Partners Group (UK) Limited. This fresh infusion of cash is set to supercharge innovation, fuel market expansion, and catapult Cashfree onto the global stage.

    At its heart, Cashfree Payments is all about making transactions effortless—helping businesses collect payments, send payouts instantly, verify identities, and sniff out fraud before it even thinks about knocking. And the numbers don’t lie: merchant signups have skyrocketed 130% year-over-year, proving that Cashfree is scaling faster than your last online shopping spree.

    With a mission to redefine digital transactions, Cashfree enables businesses to start accepting payments within a day through popular platforms like Shopify, Wix, WooCommerce, and WhatsApp.

    Cashfree Payments CEO & co-founder Akash Sinha shared his excitement, “We are excited to welcome Krafton as a strategic partner with continued support from our existing investors, Apis Growth Fund II and the team at Apis Partners. Our mission at Cashfree Payments has been to empower Indian businesses with the ability to transact in the digital economy with unparalleled security and efficiency. This investment will help us accelerate our key efforts – across cross-border and security innovations and international expansion – as we enter the next phase of our growth journey. Growing sustainably has been core to our identity and how we function at Cashfree Payments. We are focused on driving profitable growth as we scale. Our mission is clear: to create long-term value for our customers and lead innovation in the payments space, both in India and internationally.”

    Krafton sees Cashfree’s market dominance as a springboard for global expansion. Krafton India CEO Sean Hyunil Sohn highlighted, “India’s fintech industry is experiencing remarkable growth, and we believe Cashfree Payment’s dominant position in India can be replicated globally. As the media and entertainment sector and content consumption patterns in India continue to evolve, full-stack payment systems that specifically address the needs and requirements of the sector are crucial for enhancing user experience. The investment is part of Krafton’s ongoing efforts to support innovative solutions that drive growth and foster a dynamic startup ecosystem. We look forward to further strengthening this partnership and exploring future opportunities.”

    Adding to this, Apis Partners co-founders & managing partners, Matteo Stefanel and Udayan Goyal stated, “As an industry leader with a history of pioneering innovations, Cashfree Payments’ proven track record continues to put it in a leadership position. We are excited to continue our support for its continued growth and success. Apis’ investment philosophy is that there should be no trade-off between returns for LPs and positive societal impact, and the investment in Cashfree is proving to be a perfect example of that.”

    Among Cashfree’s latest advancements is Secure ID, a comprehensive identity verification stack designed to curb fraud.

    . AI-powered KYC flows that minimise user input and reduce drop-offs.

    . Intelligent fraud detection that reads and verifies identity documents with pinpoint accuracy.

    . Over 1 billion identity and user verifications completed to date.

    As security threats evolve, Cashfree is doubling down on tech-driven solutions that protect both businesses and consumers.

    With $80 billion in annual transactions and a customer base of eight lakh businesses, including Swiggy, redbus, Zepto, bigbasket, and Bajaj Finance, Cashfree is not slowing down. The company is authorised by the RBI to operate as a payment aggregator for domestic and cross-border payments, making it one of the first entities in India with such approval.

    Beyond India, Cashfree is expanding into the UAE and exploring opportunities across the Middle East, further solidifying its global ambitions.

  • Inside Cashfree Payments’ Move Fast refresh with Aditi Olemann

    Inside Cashfree Payments’ Move Fast refresh with Aditi Olemann

    MUMBAI: Remember the days of frantic scrambles for exact change with rickshaw drivers, the despair of handing over a Rs 500 note, and the resigned sigh when left without small notes? Then came the game-changer: Unified Payments Interface (UPI), India’s very own digital savior, swooping in like Superman to transform not just transactions but lives — everyday payments into seamless, one-tap solutions. Life has since taken a fast track to convenience, where paying for chai or groceries no longer requires mental mathematics.

    Fast forward to 2024, India’s fintech market is now a behemoth, estimated at an eye-watering $111.14 billion, with projections soaring to  $421.48 billion by 2029 at a CAGR of 30.55 per cent, according to Mordor Intelligence. It’s a story of rapid growth, innovation, and a market ripe with opportunities.

    Amid this transformative boom stands Cashfree Payments, a trailblazer reshaping how India transacts. With a bold new tagline, “Move Fast”, and a high-octane marketing campaign featuring the versatile Rajkummar Rao (insights in our exclusive earlier piece), Cashfree Payments is running at full throttle to define the future of payments. In an exclusive conversation with Indian Television’s Sreeyom Sil, Cashfree Payments, head & senior director of marketing, Aditi Olemann, dives deep into the strategy, the vision, and the high stakes behind staying ahead in this competitive space.

    From nostalgia to numbers, from convenience to cutting-edge marketing, this tete-a-tete with Olemann is your front-row ticket to behind the scenes of the campaign, offering a glimpse into how the brand is shaping India’s payment future.

    Curious?

    Read on for a story of speed, strategy, and a little bit of magic in the world of fintech.

    Edited excerpts

    On the reasons why Cashfree Payments chose “Move Fast” as its new tagline.

    Since our inception, we’ve prioritised building a future-proof digital payments ecosystem. Speed, security, and seamlessness have always been at the heart of our operations. Over the past decade, we’ve observed that businesses consistently value speed—whether it’s onboarding, transactions, or resolving issues. “Move Fast” encapsulates our commitment to empowering businesses with the agility they need to thrive. This tagline reflects our vision to be a catalyst for growth in a fast-paced, digital-first economy.

    On what led to the selection of  Rajkummar Rao –  who seems like an unconventional choice for a fintech brand. 

    Rajkummar Rao exemplifies versatility, reliability, and boldness—qualities that mirror our ethos. His career is a testament to taking calculated risks, challenging norms, and delivering impactful performances. At Cashfree Payments, we strive for the same—redefining the fintech landscape with innovative solutions that solve real-world challenges. Rajkummar’s journey aligns perfectly with our narrative of breaking boundaries to create meaningful change. His dynamic persona brings authenticity and energy to our campaign, making the message resonate deeply with our audience. 

    Rajkumar Rao

    On how messages are being tailored to different platforms and channels.

    Our multi-channel strategy is designed to engage diverse audiences effectively. Collaborating with OML and our internal teams, we’ve created a campaign spanning OOH, digital, social, and print media. For instance, hoardings in startup hubs like Bangalore, Gurugram, and Mumbai target budding entrepreneurs, while digital and social media focus on engaging tech-savvy audiences. Each channel conveys our core message of “Move Fast” while adapting its tone and delivery to suit specific segments, ensuring maximum recall and impact.

    On some behind-the-scenes insights into the making of the corporate film.

    The corporate film encapsulates our brand’s promise of empowering businesses with speed and agility. Featuring Rajkummar Rao, it combines high-energy visuals with relatable storytelling to depict real-world business scenarios. Our goal was to create a film that is both informative and engaging. Every aspect, from scripting to visuals, was meticulously crafted to highlight our offerings—seamless onboarding, smooth transactions, and unparalleled support. The film reflects the passion and dedication of our team and beautifully conveys the essence of “Move Fast.”

    On the  specific challenges Cashfree Payments address for businesses.

    Businesses face hurdles like delayed issue resolution, fraud risks, and complex compliance requirements. At Cashfree Payments, we tackle these challenges head-on. Our dedicated support teams ensure industry-leading resolution times, while tools like Risk Shield offer proactive fraud monitoring. Additionally, real-time compliance updates keep businesses ahead of regulatory requirements. Our approach blends cutting-edge technology with personalised service, enabling businesses to resolve issues swiftly and focus on scaling their success.

    On how the campaign bridges the gap between startups and large enterprises.

    Our solutions cater to over six lakh merchants, ranging from startups to large enterprises. For startups, we emphasise simplicity and speed, providing seamless onboarding and intuitive tools. For larger businesses, we focus on advanced capabilities like payment orchestration and fraud monitoring. The “Move Fast” campaign unifies these offerings under a single, impactful message. By showcasing our adaptability and commitment to all business sizes, we aim to reinforce trust and drive adoption across the spectrum.

    On the KPIs that  will measure the success of this brand refresh.

    In the short term, we are focusing on increased brand recall and consideration. Over the long term, key metrics include adoption rates of new services, customer retention, and revenue growth. These KPIs will help us gauge the campaign’s effectiveness in enhancing visibility and delivering sustained value to the business.

    On how the campaign simplifies complex fintech concepts for non-technical stakeholders.

    We’ve made a conscious effort to translate technical advantages into tangible outcomes that resonate with all stakeholders. For example, faster settlements improve cash flow, while seamless integrations enhance operational efficiency. The campaign uses real-world scenarios and relatable narratives to demonstrate these benefits, ensuring clarity and impact.

    On how the brand refresh prepares Cashfree Payments for long-term growth.

    This refresh solidifies our position as an agile and forward-thinking partner in the fintech space. By emphasising speed, reliability, and innovation, we’re well-equipped to navigate regulatory changes, technological advancements, and evolving customer expectations. It’s a strategic step towards ensuring resilience and sustained growth in a competitive digital economy.

  • Cashfree Payments unveils ‘Move Fast’ campaign with Rajkummar Rao as face

    Cashfree Payments unveils ‘Move Fast’ campaign with Rajkummar Rao as face

    MUMBAI: When the magic of Bollywood meets the momentum of fintech, you know something extraordinary is brewing!

    Imagine the thrill when two of the world’s favorite obsessions-money and movies-come together under one spectacular campaign.

    Cashfree Payments, India’s leading payments and API banking platform, has just made a blockbuster move by launching its electrifying brand campaign, ‘Move Fast,’ and roping in the versatile and much-loved Rajkummar Rao as its brand ambassador. A strategic power play that blends speed, agility, and innovation, this campaign is all set to fuel India’s digital dreams. And while Rao’s charm graces the campaign, we can’t help but hope he leaves “Stree” behind and steps into a fast-paced, tech-powered future!

    The Move Fast campaign features a dynamic digital film starring Rao, portraying how Cashfree Payments empowers merchants of all sizes with seamless onboarding, faster payments, and unparalleled support. With its sharp focus on agility, the campaign positions Cashfree Payments as the go-to solution for businesses seeking efficiency and reliability in their payment operations.

    Cashfree Payments, CEO & co-founder, Akash Sinha shared the vision behind the campaign, “We are excited to welcome the talented Rajkummar Rao as the brand ambassador. Our refreshed brand centres around one core idea: ‘Move Fast’. With us, businesses can adapt and grow confidently, knowing we support their evolving needs. ‘Move Fast’ isn’t just about the present; it’s about partnering with businesses for the future and empowering them to stay ahead of the curve. With Rajkummar Rao onboard, this campaign reinforces our commitment to providing businesses with the speed, flexibility, agility and support they need to grow and thrive in an ever-evolving digital world.”

    The campaign emphasises Cashfree Payments’ industry-leading services, including one-day onboarding, swift issue resolution, and reliable settlements, ensuring minimal disruption to businesses. Its tagline, Move Fast, encapsulates the brand’s mission to support businesses in overcoming barriers and unlocking growth.

    Sharing his excitement, Rao commented, “I am thrilled to be part of the Cashfree family. Today, digital payments have become an integral part of our daily lives, making transactions smoother and more efficient. Partnering with a brand that has been at the forefront of the fintech revolution and empowering Indian businesses to scale and move fast is both inspiring and rewarding. I’m proud to be a part of this journey.”

    Campaign Highlights

    . The campaign features a digital brand film conceptualised by Cashfree Payments’ in-house team in collaboration with OML, showcasing the brand’s agility and innovation.

    . A refreshed logo incorporates the tagline Move Fast to reinforce the message across platforms.

    . The campaign leverages digital channels, outdoor advertising, and offline platforms, going live on 9 December 2024.

    Cashfree Payments, head & senior director of marketing, Aditi Olemann outlined the broader vision, “At Cashfree Payments, we are shaping the future of digital payments by making them inclusive and accessible to businesses of all sizes—whether it’s a startup in a small town or a large enterprise in a metro city. Our new tagline, ‘Move Fast,’ embodies the core of what we deliver: speed, reliability, and operational efficiency. With this brand refresh, we’ve reimagined Cashfree Payments to not only reflect our growth and evolution but also to capture the exciting path we’re charting for the future.”

    With services trusted by over six lakh businesses, Cashfree Payments processes over $80 billion in transactions annually. Its innovative solutions, including Secure ID, flowWise for payment orchestration, and Risk Shield for fraud monitoring, have set benchmarks in the fintech sector.

    As Cashfree Payments deepens its presence in India, the company is also expanding its operations globally, particularly in the UAE through its acquired partner, Telr. Its focus remains on redefining how businesses approach payments, onboarding, and growth.

  • SonyLIV announces six sponsors for ‘Shark Tank India’

    SonyLIV announces six sponsors for ‘Shark Tank India’

    Mumbai: SonyLIV has signed six sponsors for “Shark Tank India,” which is set to premiere on 20 December. The streaming platform has partnered with upGrad, Acko General Insurance, Black Dog Drinking Soda as the ‘co-presenting’ sponsors, Cashfree Payments as ‘payments’ partner, Flipkart as ‘digital’ partner and Dell Technologies as ‘technology’ partner.

    SonyLIV has sold out almost 75 per cent of its ad inventory two months before the show goes on-air. It has generated the maximum interest from categories like BFSI, e-commerce, ed-tech, digital payments, consumer durables, and technology brands. “With the launch of the India edition of Shark Tank, we will be adding to our library of diverse, engaging content,” said Sony Pictures Networks India senior vice president and head of ad revenue Ranjana Mangla. “The show has a unique proposition that has attracted brands from across categories such as e-commerce, ed-tech, beverages, consumer durables, handset, auto and BFSI. Currently, we have managed to sell over 75 per cent of our ad inventory and onboarded six sponsors for the show.”

    Based on the business reality show “Shark Tank,” the show will provide an opportunity for entrepreneurs to pitch their business ideas, business prototypes or active businesses to business experts aka ‘The Sharks.’ The show will be telecasted on Sony Entertainment Television channel.

    The ‘Sharks’ that will appear on the show include Ashneer Grover (BharatPe founder and managing director), Vineeta Singh (Sugar Cosmetics CEO and co-founder), Peyush Bansal (Lenskart founder and CEO), Namita Thapar (Emcure Pharmaceuticals executive director), Anupam Mittal (Shaadi.com – People Group founder and CEO), Ghazal Alagh ( Mamaearth co-founder and chief mama) and Aman Gupta (boAt co-founder and chief marketing officer). The show will be hosted by Rannvijay Singha who will act as a guide for the pitchers on the show and the audience alike.

    “We at Acko definitely understand what it takes to turn a dream into a successful venture. So, we are excited to be associating with the first-ever season of Shark Tank India, a show that we believe can help boost India’s start-up ecosystem and encourage entrepreneurship across India,” said Acko executive vice president marketing Ashish Mishra.

    “At upGrad, it is our aim to support professionals in their lifelong learning journey and equip them with evolving skills required to venture out into the professional world, which shall also help them survive the market roller-coaster,” said upGrad chief executive officer Arjun Mohan. “This is similar to what Shark Tank India aims to do with the aspiring entrepreneurs who are looking forward to creating successful businesses for a better future of our country.”

    “We are elated to associate with Shark Tank India, in their bid to support budding entrepreneurs and the rapidly-growing Indian start-up ecosystem,” said Cashfree Payments co-founder and chief executive officer Akash Sinha. “We look forward to nurturing this partnership, which will help us contribute towards the development of a favorable business environment to foster innovation in the startup space.”