Cashfree: USD 53 Million Boost with KRAFTON Partnership
Deal News | Feb 05, 2025 | Apis Partners LLP
Cashfree Payments, a prominent payments platform in India, has raised $53 million in a funding round led by KRAFTON and existing investor Apis Growth Fund II. This capital injection aims to accelerate product innovation, market expansion, and Cashfree's global growth. The funding highlights Cashfree's capabilities in facilitating online transactions and payment processing for over 800,000 businesses, while also supporting innovations like Secure ID for fraud prevention. The company enjoys endorsement from big names, including the Reserve Bank of India and clients like Swiggy and redBus. Cashfree plans to utilize the funding to enhance security, expand into international markets, and strengthen its presence in digital payments ecosystems. The strategic partnership with KRAFTON is expected to unlock synergies, positioning Cashfree for significant growth across the media and entertainment sectors. Moreover, Apis Partners reinforces its backing, aligning with their investment philosophy focused on financial services and technology growth with positive societal impact.
Sectors
- Financial Technology
- Private Equity
- Digital Entertainment
Geography
- India – Cashfree Payments, the target firm, is headquartered in India and primarily serves the Indian market and beyond, operating under the authorization of the Reserve Bank of India.
- South Korea – KRAFTON, a principal investor in the funding round for Cashfree Payments, is based in South Korea and is looking to expand its footprint in India’s fintech sector.
- United Kingdom – Apis Partners, which manages the Apis Growth Fund II from the UK, plays a significant role in supporting Cashfree Payments with growth capital.
Industry
- Financial Technology – Cashfree Payments operates within the financial technology sector, providing an array of online payment services and solutions for businesses of all sizes.
- Private Equity – Apis Partners, a private equity firm, has invested in Cashfree Payments through its Apis Growth Fund II to support its growth and expansion plans.
- Digital Entertainment – KRAFTON, a leader in digital entertainment, is strategically investing in Cashfree Payments to leverage potential synergies between digital payments and entertainment platforms.
Financials
- USD 53 million – The total funding amount raised by Cashfree Payments in the latest round led by KRAFTON and Apis Growth Fund II.
- INR 450 Crore – Equivalent amount to USD 53 million raised in the funding round for Cashfree Payments.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Cashfree Payments | Target Company | Company | A leading payment service provider in India known for facilitating fast and reliable online transactions for businesses. |
| Apis Growth Fund II | Existing Investor | Company | A fund managed by Apis Partners, providing growth capital to Cashfree Payments. |
| KRAFTON | Lead Investor | Company | A South Korean digital entertainment company participating in Cashfree's latest funding round. |
| Reserve Bank of India | Regulator | Government | The central bank of India, which authorizes Cashfree Payments to operate as a payment aggregator. |
| Apis Partners | Private Equity Firm | Company | A UK-based private equity firm that focuses on growth-stage financial services and technology investments globally. |