Fintech firm Cashfree Payments secured $53 million in a funding round led by Korean digital entertainment giant Krafton and existing investor Apis Growth Fund II, managed by UK-based Apis Partners Group.
The Bengaluru-based company stated that the new investment will enhance its payment solutions and expand its market presence.
“This collaboration will also position Cashfree to leverage synergies with Krafton, fueling innovation and pioneering new solutions across multiple digital sectors,” the company said in a statement.
Before this round, the company had raised $44 million in funding, according to data from market intelligence platform Tracxn.
“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. We are focused on driving profitable growth as we scale,” said Akash Sinha, chief executive officer and co-founder of Cashfree Payments.
Cashfree Payments processes transactions worth $80 billion annually and serves a network of 800,000 merchants, including internet startups and large enterprises. In India, its clients include major brands such as Swiggy, redBus, Zepto, BigBasket, and Bajaj Finance. The company also expands its footprint in the United Arab Emirates (UAE).
Currently, Cashfree holds three key licenses: an online payment aggregator license, a payment aggregator license for cross-border transactions, and a prepaid payments instrument (PPI) authorization.
“As the media and entertainment sector and content consumption patterns in India continue to evolve, full-stack payment systems that specifically address the sector’s needs are crucial for enhancing user experience. This investment is part of Krafton’s ongoing efforts to support innovative solutions that drive growth and foster a dynamic startup ecosystem,” said Sean Hyunil Sohn, chief executive officer of Krafton India.
