Hurun Rich List 2024: Razorpay founders named youngest Indian billionaires

Co-founders of Razorpay, Harshil Mathur and Shashank Kumar, at the age of 33 have been named among the youngest Indian billionaires on the Hurun Rich List 2024. The duo'sindividual net worth is estimated to be $1.03 billion, according to Y Combinator.

After noticing the bleak state of the online payments sector in India, the two friends started their journey to build Razorpay in 2014, according to Y Combinator. Founded by the two IIT Roorkee graduates, the company provides financial solutions to make digital payments for Indian businesses easy.

The company, which was previously valued at $1 billion, surged to $7.5 billion over the years.

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Mathur, who earlier worked with Schlumberger, writes in his LinkedIn bio: “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.”

Kumar studied Computer Science at IIT-Roorkee and is the co-founder and managing director at Razorpay.

The two met during their course at IIT Roorkee and started collaborating on various projects. The duoshared a love for coding and then startedtheir own venture.

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"Many of the codes we wrote during our college days are still the backbone of Razorpay's operations today,” said Mathur.

Both Mathur and Kumar are based in the Indian city ofBengaluru, where 27 Indian billionaires reside including Wipro’s Azim Premji. TheIndian businessman and philanthropistis the richest person in Bengaluru as per the Hurun Rich List 2024.

The top youngest entrepreneurs in India are Kaivalya Vohra and Aadit Palicha who are aged 21 and 22, the founders of Zepto, one of the most prominent online grocery brands in India.

Palicha’s estimated net worth is valued at $512 million, while Vohra's is valued at $429 million.

(With inputs from agencies)