Success has no age limit, and two young entrepreneurs from India have proved it yet again. Shashank Kumar and Harshil Mathur, both just 34 years old, have officially become the youngest billionaires in India, according to the Hurun Global Rich List 2025. Their net worth stands at a whopping ₹8,643 crore each. These IIT Roorkee alumni co-founded Razorpay, a fintech company that revolutionized digital payments in India.
The Journey from IIT to Billionaire Status
Shashank Kumar and Harshil Mathur’s journey started at IIT Roorkee, where they were classmates. Their shared passion for technology and solving real-world problems led them to collaborate. During their early careers, both worked in the corporate sector—Kumar at Microsoft as a software development engineer and Mathur as a wireline field engineer at Schlumberger.
Despite their promising jobs, they noticed the challenges businesses faced in processing online payments in India. This inspired them to build a seamless payment gateway that could simplify digital transactions. In 2014, they took a bold step, quit their jobs, and launched Razorpay.
Solving India’s Digital Payment Challenges
India was witnessing a digital transformation, but online payments remained complicated for many businesses. Traditional payment gateways had long and tedious approval processes. Razorpay aimed to solve this by offering a quick and easy payment solution for startups, small businesses, and large enterprises. Their platform allowed companies to accept, process, and distribute digital payments without unnecessary delays.
The startup quickly gained traction, thanks to its user-friendly interface, seamless integrations, and transparent pricing model. Within a few years, Razorpay became one of India’s most trusted digital payment providers.
Backing from Big Investors
Success didn’t come overnight. Razorpay initially struggled to gain investor confidence. However, their determination and a strong business model soon attracted funding from major global investors. By 2021, Razorpay had raised $375 million in Series F funding, taking the company’s valuation to $7.5 billion.
Some of the notable investors backing Razorpay include:
- GIC (Singapore’s Sovereign Wealth Fund)
- Sequoia Capital
- Ribbit Capital
- Tiger Global Management
- Matrix Partners India
- Y Combinator
The Growth of Billionaires in India
India has witnessed a rise in billionaires over the years. In 2022, the country had 249 billionaires, but due to market uncertainty in 2023, the number fell to 187. However, India’s economy bounced back, and in 2024, the number of billionaires increased to 271. As of 2025, India now has 284 billionaires, highlighting its rapid financial growth.
The World’s Youngest Billionaire
While Shashank Kumar and Harshil Mathur hold the title of India’s youngest billionaires, the title of the world’s youngest billionaire belongs to Wang Jailong from China, who is just 29 years old. He also has a net worth of ₹8,643 crore, similar to Kumar and Mathur.
Globally, the average age of billionaires is 66 years, while in India, it is 68 years. However, the rise of young billionaires like Kumar and Mathur proves that age is no barrier to success.
The Future of Razorpay and India’s Fintech Industry
The fintech sector in India is growing at an exponential rate. With Razorpay leading the digital payment revolution, the future looks promising for both the company and its founders.
Razorpay continues to expand its services, offering solutions like RazorpayX (business banking) and Razorpay Capital (lending solutions). These innovations are helping businesses manage their finances more efficiently.
As India moves towards becoming a cashless economy, startups like Razorpay will play a crucial role in shaping the future of digital payments. Shashank Kumar and Harshil Mathur’s journey is an inspiration to young entrepreneurs across the country, proving that with the right vision, determination, and innovation, achieving success at a young age is possible.
