Cashfree Payments raises $53m in funding led by KRAFTON
By Gloria Mathias
India’s payments company, Cashfree Payments, has raised $53 million (INR 450 crore) in a funding round led by Korean digital entertainment giant KRAFTON and existing investor Apis Growth Fund II, a private equity fund managed by Apis Partners Group (UK) Limited (Apis Partners).
The capital will accelerate Cashfree’s payment offering and boost market outreach. This collaboration will also position Cashfree to leverage synergies with KRAFTON, fuelling innovation and pioneering new solutions across multiple digital sectors.
Akash Sinha, CEO & Co-Founder of Cashfree Payments, said, “We are excited to welcome KRAFTON as a strategic partner with continued support from our existing investors, Apis Growth Fund II and the team at Apis Partners. Our mission at Cashfree Payments has been to empower Indian businesses with the ability to transact in the digital economy with unparalleled security and efficiency. This investment will help us accelerate our key efforts—across cross-border and security innovations and international expansion—as we enter the next phase of our growth journey. Growing sustainably has been core to our identity and how we function at Cashfree Payments. We are focused on driving profitable growth as we scale.”
Among recent innovations, the company has built Secure ID, an identity verification stack with a comprehensive suite of APIs and KYC components, addressing the surge in fraud. SecureID enables fintechs and startups to build onboarding and KYC flows by intelligently minimising user inputs, thus reducing drop-offs, intelligently reading and verifying identity documents, and precisely detecting frauds and anomalies.
Sean Hyunil Sohn, CEO of KRAFTON India, said, “India’s FinTech industry is experiencing remarkable growth, and we believe Cashfree Payment’s dominant position in India can be replicated globally. As the media and entertainment sector and content consumption patterns in India continue to evolve, full-stack payment systems that specifically address the needs and requirements of the sector are crucial for enhancing user experience. The investment is part of KRAFTON’s ongoing efforts to support innovative solutions that drive growth and foster a dynamic startup ecosystem. We look forward to further strengthening this partnership and exploring future opportunities.”
IBSi FinTech Journal

- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage
Other Related News
Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q4 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More