India’s youngest billionaire: The Hurun Global Rich List 2025 has been released, showcasing 284 billionaires from India. Among them, Harshil Mathur and Shashank Kumar, the co-founders of Razorpay, stand out as the youngest billionaires at just 34 years old, with a combined wealth of Rs 8,643 crores.
Who holds the title of India’s youngest billionaire?
Razorpay, one of India’s leading fintech firms, specializes in online payment solutions and was founded in Bengaluru in 2014. Harshil and Shashank, who both graduated from IIT Roorkee, forged their friendship during their studies, likely unaware that they would soon become the youngest billionaires in India. Prior to launching Razorpay, Shashank worked as a software development engineer at Microsoft, while Harshil was a wireline field engineer at Schlumberger.
From startup to billion-dollar enterprise
Since its inception in 2014, Razorpay has navigated numerous challenges in the fintech sector and has experienced remarkable growth. By the end of 2021, the company’s valuation soared to $7.5 billion, thanks to significant investments from major players like GIC, Sequoia Capital, Ribbit Capital, Matrix Partners, Tiger Global, and Y Combinator.
What is Razorpay
Razorpay is a payment gateway designed to streamline various online payment options. It is utilized by merchants and developers to integrate payment functionalities into their websites or applications. The company currently employs over 3,000 individuals, known as Razors.
When did Razorpay start
Razorpay was founded in 2014 by Shashank Kumar and Harshil Mathur. Harshil holds a BTech degree in Software Engineering from IIT Roorkee and co-founded the company with his friend Shashank Kumar. Over the past decade, the company has experienced significant growth, evolving from a single-product payment gateway to a comprehensive multi-product platform. Reports indicate that Razorpay serves payment needs for 80 out of the 100 fintech unicorns in India. In addition to payment solutions, its portfolio includes more than 40 products catering to banking and financial technology requirements. To celebrate its 10th anniversary, the company announced plans to distribute Employee Stock Ownership Plans (ESOPs) valued at Rs 1 lakh to its employees in December 2024.