From startup to billions: How Razorpay's founders became India's youngest billionaires

India's startup ecosystem continues to flourish, producing some of the country's youngest billionaires. Razorpay co-founders Shashank Kumar and Harshil Mathur have now joined the exclusive billionaire club, each boasting a net worth of Rs 8,643 crore, according to the Hurun Global Rich List 2025.

Kumar and Mathur's rise to billionaire status is a testament to the booming fintech sector and India's growing dominance in the global digital economy. The duo first met at IIT Roorkee, where they shared a passion for technology and problem-solving.

Their entrepreneurial journey began in 2014 when they launched Razorpay, aiming to simplify digital payments in India. Before taking the leap into fintech, Kumar worked as a software development engineer at Microsoft, while Mathur served as a wireline field engineer at Schlumberger. Their first-hand experience with online payment challenges led to the birth of Razorpay.

"We started Razorpay after discovering the dismal state of online payments in India," Mathur once shared on LinkedIn.

Razorpay's meteoric growth:

Since its inception, Razorpay has grown into one of India's leading digital payment solutions providers. The company secured $375 million in its Series F funding round in December 2021, reaching a valuation of $7.5 billion.

India's billionaire boom:

India's billionaire count has witnessed fluctuations in recent years. The number surged to 249 in 2022 before dropping to 187 in 2023 due to economic challenges. However, the trend reversed in 2024, climbing to 271, and now in 2025, India boasts 284 billionaires.

Hurun India's founder and chief researcher, Anas Rahman Junaid, remarked, "The collective wealth of Indian billionaires has surpassed the trillion-dollar milestone, signalling a new era of prosperity. Notably, 62% of these billionaires have experienced increased wealth, underscoring the positive economic trends sweeping the nation."

Global and domestic billionaire rankings:

While Kumar and Mathur have become India's youngest billionaires, they share the same net worth as China's Wang Zelong, aged 29. The average age of billionaires in India stands at 68, slightly above the global average of 66, indicating that most wealth accumulation occurs later in life.

Meanwhile, Roshni Nadar, chairperson of HCL Technologies, has secured the third spot among India's richest individuals with a net worth of Rs 3.5 lakh crore, reflecting the growing influence of women in corporate India.

Mukesh Ambani slips in global rankings:

Mukesh Ambani, a long-time member of the world's top 10 richest individuals, has fallen from the elite list. The Hurun Global Rich List 2025 attributes his decline to a Rs 1 lakh crore drop in wealth, citing rising debt levels. In contrast, Elon Musk continues to top the list with a net worth of $420 billion, followed by Mark Zuckerberg and Jeff Bezos.