Cashfree, an Indian payments startup that facilitates and processes more than $80 billion for its customers each year, has raised $53 million in a new Krafton, maker of sleeper hit titles such as PUBG and BGMI,

Krafton, which also develops mobile game Battlegrounds Mobile India, has poured more than $170 million into Indian startups since 2021.

MUMBAI: Digital payments are moving at breakneck speed, and Cashfree Payments is keeping pace like a fintech sprinter on a caffeine high. The company has just bagged a cool $53 million (Rs 450 crore) in a funding round led by Korean digital entertainment giant Krafton,

Krafton Inc., the South Korean gaming company behind popular shooter title PUBG: Battlegrounds, said Wednesday it has invested in Indian fintech firm Cashfree Payments as part of its continued push into India's digital economy.

Cashfree recently received approval from the Reserve Bank of India (RBI) to operate as a Payment Aggregator-Cross Border (PA-CB), enabling it to facilitate payments for global businesses and regulated entities collecting funds in India. The license also allows Cashfree to provide cross-border payment solutions for Indian exporters and freelancers.

The latest funding round, which was mostly a primary transaction, with a small secondary component, valued the company at around $700 million, people aware of the deal tell.