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Razorpay buys majority stake in Malaysian startup “Curlec”

Razorpay buys majority stake in Malaysian startup "Curlec"_4.1

Razorpay has expanded into South-East Asia with the acquisition of a majority stake in a Malaysian fintech firm Curlec, valuing the company between $19-20 million. Razorpay expects to complete the full acquisition in the next one-and-a-half years. The Kuala Lumpur-based, Curlec builds solutions for recurring payments for businesses. This marks Razorpay’s fourth acquisition overall and its first in the international markets.

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This acquisition will allow us to quickly ramp up and start scaling in Southeast Asia as a market. Curlec has been powering recurring payments for multiple companies in the Malaysian market. With them as part of this team, we will have a local team that understands the nuances of the market in Malaysia and Southeast Asia at large.

Important takeaways for all competitive exams: 

  • Razorpay CEO: Harshil Mathur;
  • Razorpay Founded: 2013;
  • Curlec was founded by Zac Liew and Steve Kucia in 2018.

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