Aug 29, 2024 04:06 PM IST
Harshil Mathur and Shashank Kumar, 33-year-old co-founders of Razorpay, have been named the youngest Indian billionaires on the Hurun Rich List 2024.
Harshil Mathur and Shashank Kumar, 33-year-old co-founders of Razorpay, have been named the youngest Indian billionaires on the Hurun Rich List 2024. The Y Combinator alums have an estimated net worth of ₹8,700 crores, which is approximately USD 1.03 billion.
This makes Harshil Mathur and Shashank Kumar the youngest billionaires in India at the age of 33.
Zepto co-founders Kaivalya Vohra and Aadit Palicha, aged 21 and 22 respectively, topped the list of youngest entrepreneurs in India. Kaivalya Vohra has an estimated net worth of ₹3,600 crore (429 million USD), while Aadit Palicha’s net worth is ₹4,300 crore (512 million USD).
The rise of Razorpay
Harshil Mathur and Shashank Kumar started the journey of building Razorpay in 2014 after witnessing “the dismal state of the online payments industry in India,” according to the Y Combinator website. Both are graduates of IIT Roorkee.
Financial solutions company Razorpay aims to simplify digital payments for Indian businesses. Over the years, its valuation has jumped from $1 billion to $7.5 billion.
On his LinkedIn profile, Mathur writes: “After discovering the dismal state of online payments in India, I quit my full-time job as a Wireline Field Engineer at Schlumberger to start Razorpay along with my friend and partner in crime Shashank Kumar. I am the CEO and co-founder of Razorpay and our company’s mission is to simplify payments.”
Shashank Kumar serves as co-founder and managing director of Razorpay. He studied Computer Science at IIT-Roorkee.
On their friendship and business, Mathur said: “I met Shashank during our time at IIT Roorkee, and our collaboration began there. We worked on numerous projects together, fueled by our shared passion for coding. In fact, many of the codes we wrote during our college days are still the backbone of Razorpay’s operations today.”
Both the Razorpay co-founders are based in Bengaluru, a city that houses a total of 27 Indian billionaires. Wipro’s Azim Premji was named the richest person of Bengaluru by the Hurun Rich List 2024.