Topic · 4 case studies

Indian Startups

How India's biggest startups actually scaled.

Indian startups aren't building Silicon Valley clones. They're solving for a market with thinner margins, harder distribution, and a customer who has seen everything be free at some point.

These case studies look at how founders chose their wedge, raised the right capital, and built moats that survive contact with Indian unit economics.

What you'll learn
  • How founders pick a wedge against scaled incumbents
  • Why ecosystem ownership beats single-product focus
  • What Indian unit economics actually demand of a startup

Case studies on Indian Startups

How Razorpay Beat PayPal, Stripe and Banks to Build India's $7.5B Payments Empire
Indian Startups7 min read

How Razorpay Beat PayPal, Stripe and Banks to Build India's $7.5B Payments Empire

In 2014, two IIT Roorkee graduates couldn't accept online payments for their own startup — every Indian bank rejected them. So they built the payment gateway themselves. A decade later, Razorpay processes over $150 billion in annualised TPV, is valued at $7.5 billion, and quietly powers payments for 80 lakh+ Indian businesses including Facebook India, Swiggy, and the BCCI.

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