India’s Cashfree Payments has raised $53 million in a funding round led by Korean digital entertainment platform Krafton, with participation from existing investor Apis Partners.
Cashfree Payments offers businesses a comprehensive payment stack, enabling them to collect payments from over 100 methods, process payouts, facilitate cross-border transactions, optimize conversions with one-click checkout, recover abandoned carts, and reduce return rates using predictive analytics. The company also provides identity verification and KYC solutions, along with an embedded payment platform for ERP and SaaS businesses.
Founded in 2015 and incubated by PayPal, Cashfree Payments now processes $80 billion annually for more than 800,000 businesses, offering seamless integration with platforms like Shopify, Wix, WooCommerce, WordPress, and WhatsApp.
The company has seen merchant signups grow by 130% in FY25 and expects continued revenue growth through increased wallet share from existing customers and expanded cross-selling.
Akash Sinha, CEO and co-founder of Cashfree Payments, stated: “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, creating long-term value for our customers, and leading innovation in the payments space both in India and internationally.”