India saw its billionaire tally rise slightly over the past year to 284 people with a cumulative wealth of Rs 98 lakh crore. Data released by Hurun Global indicates that Razorpay founders Shashank Kumar and Harshil Mathur (both aged 34) are the youngest billionaires in the country — aged 34. The country is also home to seven billionaires under the age of 40 who hail from Bengaluru and Mumbai. Razorpay was started in 2014 when the duo was just 24 years old. Shashank Kumar and Harshil Mathur first met while studying at IIT Roorkee and connected over their shared interest in technology. Both had worked corporate jobs with major companies before turning entrepreneur in 2014. Kumar had been a software development engineer at Microsoft till 2013 while his co-founder Mathur worked as a wireline field engineer with Schlumberger. ALSO READHurun Rich List: India home to 284 billionaires, their wealth exceeds Saudi Arabia’s GDP- Key takeaways “For a long time, we have felt that enabling frictionless transactions is a major problem and nobody seems to be doing it right. We decided to tackle it ourselves…Razorpay aims to revolutionize money management for online businesses by providing clean, developer-friendly APIs and hassle-free integration,” reads an excerpt from the company website. The company — which aims to simplify the online payment process for Indian businesses — has secured backing from several venture capital agencies such as Sequoia Capital and YCombinator, Singaporean sovereign wealth fund GIC and more. The company reached unicorn status in 2020 and subsequently attained a valuation of $7.5 billion the next year. According to the Hurun list released on Thursday, 20-year-old, Brazil-based Livia Voigt of Electrical Motors maker WEG is the world’s youngest billionaire with a net worth of $1.3 billion. She is followed by – Business News
India saw its billionaire tally rise slightly over the past year to 284 people with a cumulative wealth of Rs 98 lakh crore. Data released by Hurun Global indicates that Razorpay founders Shashank Kumar and Harshil Mathur (both aged 34) are the youngest billionaires in the country — aged 34. The country is also home to seven billionaires under the age of 40 who hail from Bengaluru and Mumbai. Razorpay was started in 2014 when the duo was just 24 years old. Shashank Kumar and Harshil Mathur first met while studying at IIT Roorkee and connected over their shared interest in technology. Both had worked corporate jobs with major companies before turning entrepreneur in 2014. Kumar had been a software development engineer at Microsoft till 2013 while his co-founder Mathur worked as a wireline field engineer with Schlumberger. ALSO READHurun Rich List: India home to 284 billionaires, their wealth exceeds Saudi Arabia’s GDP- Key takeaways “For a long time, we have felt that enabling frictionless transactions is a major problem and nobody seems to be doing it right. We decided to tackle it ourselves…Razorpay aims to revolutionize money management for online businesses by providing clean, developer-friendly APIs and hassle-free integration,” reads an excerpt from the company website. The company — which aims to simplify the online payment process for Indian businesses — has secured backing from several venture capital agencies such as Sequoia Capital and YCombinator, Singaporean sovereign wealth fund GIC and more. The company reached unicorn status in 2020 and subsequently attained a valuation of $7.5 billion the next year. According to the Hurun list released on Thursday, 20-year-old, Brazil-based Livia Voigt of Electrical Motors maker WEG is the world’s youngest billionaire with a net worth of $1.3 billion. She is followed by – Business News | The Financial Express
