COVID-19 has been a turning point for the FinTech Sector. While the pandemic has created uncertainty on a number of fronts and left some of the fintech firms grappling with that stress, there are also new opportunities created due to increased demand for digital payments and digital financial processes from the offline businesses. Many are re-examining their business models, hiring plans and currently prioritising growth and customer acquisition over profitability.

 

Anuradha Bharat, Head – People Operations, Razorpay said, “The way I see it, the FinTech sector is at its exciting best right now as everyone wants to have an e-commerce presence. While there are massive layoffs happening around, we see this as an opportunity to hire great minds and make quality additions to build a league of next-gen payment and banking solutions to help with the current circumstances. With business demands and behaviours changing rapidly during this time, we are hiring for critical roles based on how productive a role can be to the company and the industry at this point. New team members come with a particular brand of enthusiasm and energy, and as a fast evolving organization, there is a constant desire for relentless enthusiasm and quality skill-set to supplement these new roles and functions.”

 

She added, “With a new digital world in order, we are seeing an emergence of skills revolutionising the fintech space, and this rapid technological disruption means that new skills will emerge as fast as others become old-fashion.”

 

In the last twelve months, Razorpay has more than doubled its headcount from 330 to 770. In the last six months, the company increased its headcount by about 15% and strengthened its leadership team across Business and Engineering teams. Some of the recent additions to its leadership team include Chief Innovation Officer (Amitabh Tewary), Chief Business Officer (Rahul Kothari) and Arpit Chug (Chief Financial Officer).

 

With a healthy growth rate of 35% month-on-month, Razorpay has been witnessing an increased demand for digital payments especially from tier-2 and 3 cities, particularly in the last six months. And with businesses starting to adopt newer digital ways of banking, Razorpay’s neobanking arm, RazorpayX is helping businesses manage their cash flows and get better insights about their financial growth. This full stack financial solutions company expects a 4x growth in its revenue by the end of next fiscal year.

 

On another note, while the world is hoping for a quick recovery from the current situation, Razorpay urges every company and every individual to comply with all precautions and measures to ensure the well-being of one and all.