Leaving behind a well-paying job in the United States to pursue an entrepreneurial path is a daunting decision that many individuals contemplate. The transition from stable employment to the uncertain world of entrepreneurship comes with its own set of challenges and risks. Despite the obstacles, there are certainly those who embrace such hurdles and have carved out successful paths for themselves as entrepreneurs. Such is the story of Shashank Kumar, who, alongside his friend Harshil Mathur, founded Razorpay, India’s first payment gateway for small businesses and startups. In 2013, India lacked a suitable payment solution for its small-scale businesses, while PayPal, a US-based giant, grappled with regulatory hurdles. This is when Razorpay emerged as a beacon of change, a game-changer founded by two IITians to fill this critical gap.
Shashank Kumar, who also served as the company’s CTO, played a pivotal role in the development of Razorpay. Their innovative idea evolved into a comprehensive, integrated payment solution. Today, Kumar holds the position of Managing Director (MD) while Mathur is the CEO of Razorpay.
Born in Patna, Kumar previously held a lucrative position as a software expert for Microsoft, a leading IT firm in the United States. However, his entrepreneurial spirit drove him to take the daring leap into business ownership. He completed his schooling at St Xavier’s High School in Patna, Bihar, and later secured admission to the prestigious Indian Institute of Technology (IIT), Roorkee. After graduating with a degree in computer science engineering, Kumar landed a job at Microsoft in the US. Despite excelling in his role, he quit within two years to pursue his entrepreneurial dreams. This bold move led to the establishment of a company now valued at over $7 billion (approximately Rs 58621 crore), according to a report by Inc42.
Kumar’s journey is an inspiration for aspiring entrepreneurs, showcasing the potential for success that comes with embracing risk and pursuing one’s passion. Razorpay’s impact on the Indian business landscape is undeniable, providing a platform for small businesses and startups to thrive.
