Cashfree Payments Secures $53 Million in Funding Led by KRAFTON
Bengaluru: Cashfree Payments, a leading payments company, has raised $53 million in a funding round led by Korean digital entertainment giant KRAFTON, with participation from existing investor Apis Growth Fund II.
The investment will accelerate Cashfree’s payments offering, drive market expansion, and fuel global growth. The collaboration with KRAFTON will also enable Cashfree to leverage synergies and pioneer new solutions across multiple digital sectors.
Cashfree Payments enables businesses to collect payments online and make payouts, with features like one-click checkout, abandoned cart recovery, and return prediction. The company has introduced Embedded Payments, allowing platforms to integrate payments as a feature into their product.
Akash Sinha, CEO & Co-Founder of Cashfree Payments, said, “We’re excited to welcome KRAFTON as a strategic partner. This investment will help us accelerate our efforts in cross-border and security innovations and international expansion.”
Sean Hyunil Sohn, CEO of KRAFTON India, said, “We believe Cashfree Payment’s dominant position in India can be replicated globally. This investment is part of our efforts to support innovative solutions that drive growth and foster a dynamic startup ecosystem.”
Matteo Stefanel and Udayan Goyal, Co-Founders and Managing Partners at Apis Partners, commented, “We’re excited to continue our support for Cashfree Payments’ growth and success. This investment is a perfect example of our philosophy of delivering returns while creating positive societal impact.”
Cashfree Payments processes $80 billion annually and works with 800,000 businesses. The company is authorised by the Reserve Bank of India to operate as a payment aggregator for domestic and cross-border payments.
