Malaysia’s Curlec by Razorpay launches payment gateway

Curlec targets RM10b in annualised gross transaction value by 2025.

Malaysian payments fintech Curlec has transitioned to become a full stack payment gateway for businesses, launching a payment gateway in the country.

In a press release, Curlec by Razorpay– who traces its roots in the recurring payments or subscriptions sector), and was acquired by Razorpay India in 2022-- said that it now aims to provide businesses with a payment gateway that accepts payments and automates payouts.

Curlec will reportedly serve more than 5,000 businesses, and targets an RM10b (approximately $2.2b) in annualised gross transaction value (GTV) by 2025.

Razorpay managing director and co-foundre Shashank Kumar said that the company sees great potential in the Southeast Asian market, and expressed delight in launching its first international payment gateway in Malaysia.

“We recognise  the power of payments in Malaysia and what it means for businesses of all sizes, regardless of sector,” Kumar said.

“When we joined forces with Curlec a year ago, our vision was to build products  that cater to the needs of Southeast Asian users. The unveiling of the new Curlec Payment Gateway today  is a first step in that direction,” Kumar added.

Curlec by Razorpay is now used by over 700 businesses ranging from SMEs to enterprises and has powered payments for some of Malaysia’s biggest brands including Tune Protect, CTOS, Courts, Mary Kay, and The National Kidney Foundation.