Harshil Mathur Biography: Building Razorpay’s Fintech Empire
-
- July 9, 2025
Harshil Mathur, born in 1991 in Jaipur, Rajasthan, is the co-founder and CEO of Razorpay, a leading fintech company revolutionizing digital payments in India. With a net worth of ₹8,643 crore in 2025, he is among India’s youngest billionaires. This Harshil Mathur biography explores his early life, career growth, struggles, comeback, current influence, and lesser-known facts, showcasing his journey from an IIT graduate to a fintech trailblazer.
Harshil Mathur’s Early Life
Jaipur Roots and Early Passion
Born into a middle-class family in Jaipur, Harshil Mathur grew up with a knack for problem-solving. His father encouraged his love for technology, sparking an interest in coding during school. Additionally, Harshil practiced karate from third grade, earning a black belt and a national silver medal, which instilled discipline and resilience.
IIT Roorkee Education
Harshil attended Seedling Public School, excelling in mathematics. He pursued a B.Tech in Metallurgical Engineering at IIT Roorkee from 2009 to 2013. There, he co-founded SDSLabs, a coding club, with Shashank Kumar, his future Razorpay co-founder. This experience honed his technical skills and entrepreneurial mindset.
Harshil Mathur’s Career Growth
From Schlumberger to Razorpay
After graduating, Harshil Mathur worked briefly as a Wireline Field Engineer at Schlumberger in Mumbai from 2013 to 2014. However, he found the 9-to-5 corporate life unfulfilling. In 2014, alongside Shashank Kumar, he launched Razorpay in Jaipur to simplify online payments for small businesses, addressing a gap in India’s digital payment system.
Scaling Razorpay
Razorpay joined Y Combinator’s W15 batch in 2015, gaining mentorship from Paul Buchheit. By 2021, the company achieved unicorn status with a $1 billion valuation, soaring to $7.5 billion by 2025. Razorpay now processes over $100 billion annually for 10 million businesses, offering payment gateways, neo-banking, and lending solutions.
Struggles and Down Phases
Rejections and Early Hurdles
Launching Razorpay was tough. Harshil and Shashank faced over 100 bank rejections, with bankers dismissing their idea as unviable. Harshil recalled waiting hours for meetings, only to face rejection. Moreover, quitting stable jobs at Schlumberger and Microsoft raised family concerns about financial risks.
Regulatory and Public Challenges
In 2022, the RBI imposed an embargo on Razorpay for licensing issues, halting new merchant onboarding. Additionally, controversies like a 2022 dispute with Alt News over data-sharing allegations and scrutiny over alleged cryptocurrency scams tested Harshil’s leadership. These setbacks slowed growth temporarily.
Comeback and Rise to Fame
Despite rejections, Harshil secured HDFC Bank’s support after a young banker took a chance on Razorpay. The 2020 lockdown boosted online payments, tripling Razorpay’s business. Harshil’s Forbes 30 Under 30 Asia (2021) and EY Entrepreneur of the Year (2021) awards marked his rise. By 2025, the Hurun Rich List named him and Shashank India’s youngest billionaires.
Current Status and Influence
Fintech Leader
As of June 2025, Harshil Mathur leads Razorpay, valued at ₹63,000 crore, handling 30% of India’s online payments. His ₹8,643 crore net worth stems from Razorpay’s success and investments in 23 startups. At Davos 2025, he highlighted India’s UPI dominance, aiming to expand Razorpay globally.
Personal Life and Advocacy
Married and based in Bengaluru, Harshil keeps his personal life private but credits his wife’s support during Razorpay’s early days. He mentors startups through Razorpay’s Venture Investment Program, launched in 2024, and promotes financial inclusion for SMEs. His disciplined approach continues to drive innovation.
Lesser-Known Facts
- Karate Champion: Earned a national silver medal in karate.
- Y Combinator Alum: Mentored by Gmail creator Paul Buchheit.
- First Bank Win: HDFC Bank backed Razorpay after 100 rejections.
- Startup Investor: Invested in 23 fintech and tech startups.
- Awards: Won EY Entrepreneur of the Year (2021).
| Category | Details |
|---|---|
| Full Name | Harshil Mathur |
| Born | 1991, Jaipur, Rajasthan, India |
| Profession | Entrepreneur, CEO, Co-Founder of Razorpay |
| Notable Work | Razorpay, RazorpayX, Razorpay Capital |
| Marital Status | Married |
| Net Worth | ~₹8,643 crore ($1.03 billion, 2025) |
| Awards | Forbes 30 Under 30 Asia (2021), EY Entrepreneur of the Year (2021) |
Conclusion
This Harshil Mathur biography traces a journey of resilience and innovation. From facing 100 bank rejections to building Razorpay into a ₹63,000 crore fintech giant, Harshil Mathur overcame regulatory hurdles and controversies to become India’s youngest billionaire. His 2025 vision for global expansion and mentorship continues to shape the fintech world, inspiring entrepreneurs to dream big.
