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.

Cashfree secured $53 million in funding led by South Korea’s Krafton, increasing its valuation to $700 million.

Indian fintech firm Cashfree Payments has garnered $53m in a financing round led by Korean company KRAFTON. Current investor Apis Growth Fund II, managed by Apis Partners Group, also contributed to the round.

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.

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.

Cashfree Payments secures $53M funding from KRAFTON & Apis Partners to drive innovation, expand global reach, and enhance payment solutions for businesses.

Digital payments startup Cashfree Payments on Wednesday said it raised $53 million (about Rs 430 crore) in a funding round led by South Korean gaming giant KRAFTON, with participation from existing investor Apis Growth Fund II.