Cashfree Payments lands ₹450 crore funding led by Krafton to supercharge payment solutions

Fintech startup Cashfree Payments announced today that it has raised $53 million (approximately ₹450 crore) in funding round led by Korean digital entertainment giant Krafton, along with existing investor Apis Growth Fund II, a private equity fund managed by UK-based Apis Partners Group Limited (“Apis Partners”), according to the fintech’s statement in a release.

The company notes that the collaboration will strengthen Cashfree’s payment solutions and expand its market reach. “The capital will accelerate Cashfree’s payments offering and boost market outreach. This collaboration will also position Cashfree to leverage synergies with KRAFTON, fuelling innovation and pioneering new solutions across multiple digital sectors.”

The fintech company highlights its seamless and efficient solution, which helps businesses collect payments, process payouts, drive conversions, and improve identity verification while detecting fraud during KYC and onboarding.

In FY25, the company experienced a 130% rise in merchants compared to previous years and expects significant revenue growth, driven by increased wallet share from existing clients and continued expansion through cross-selling to its customer base, the company notes.

The company claims $80 billion in annual processing and works with 800,000 businesses, ranging from internet startups to public enterprises. “Cashfree is authorised by the Reserve Bank of India to operate as a payment aggregator for both domestic and cross-border payments (Import & Export).”

Speaking on the funding round from Krafton, Akash Sinha, CEO and Co-Founder of Cashfree Payments, says, “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. Our mission is clear: to create long-term value for our customers and lead innovation in the payments space, both in India and internationally,” Sinha adds.

The company adds that one of its recent innovations, Secure ID, an advanced verification stack offering a complete suite of APIs and KYC components, addresses the rise in fraud.

Highlighting India’s growth in the fintech sector, Sean Hyunil Sohn, CEO of KRAFTON India, said, "India's fintech industry is experiencing remarkable growth, and we believe Cashfree Payments' 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.”