News Summary

Cashfree, an Indian payments startup, has secured $53 million in a Series C funding round led by Krafton, the gaming company known for titles like PUBG and BGMI. This investment values Cashfree at $700 million. The startup, which processes over $80 billion annually for its customers, aims to expand its international presence, particularly in the Middle East. The funding will support Cashfree’s efforts to increase its market share in regions such as the UAE, Saudi Arabia, and Egypt. Cashfree’s technology enables businesses to handle up to 12,000 transactions per second and offers services like automated payouts and fraud prevention. The company has also been authorized by India’s central bank to operate as a payment aggregator for domestic and international transactions. Krafton’s investment aligns with its strategy to expand in India, where it has invested significantly across various startups.