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Razorpay acquires Malaysian fintech startup, Curlec

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Razorpay acquires Malaysian fintech startup, Curlec
09 Feb 2022
6 min read

News Synopsis

The fintech company, Razorpay has acquired a majority of stakes in Curlec, as the company goes ahead with its international expansion. Razorpay has said that with this acquisition, the company will further reveal new channels for global business expansion for online businesses based in India and Malaysia

Founded by Zac Liew and Steve Kucia in 2018, Curlec builds new-age technology solutions on top of existing payments infrastructure, that makes the collection of recurring payments easier and take control of their cash flows.

E-commerce business is booming in Malaysia with estimated market size of $21 billion during 2021 and is poised to grow to over $35 billion by 2025.

It is backed by 500 global and other investors with its annual revenue growing at nearly 5X since 2018. The founder of Clurlec, Zac Liew has said that the company looks forward to the next phase of their journey and scaling together across Malaysia and Southeast Asia.

It is the fourth acquisition of Razorpay after TERA Finlabs, Opfin and Thirdwatch. It serves over 8 million businesses including Facebook, Ola, Zomato, Swiggy, and Cred. It has achieved a $60 billion total payment volume as of December 2021.