Bengaluru, Feb 12 (IANS): Fintech unicorn Razorpay on Friday announced to hire 650 employees across technology, product and business teams in the next 10 months, to meet the growing payment and banking needs of small and medium enterprises (SMEs) and freelancers.

Of the 650 new positions for both freshers and lateral hires, 350 will be towards expanding the engineering and product teams, and the rest will form the customer experience, sales and marketing forces, the company said in a statement.

The company which currently has 1,300 employees hired over 550 people last year and witnessed a three times business growth in the pandemic-hit year.

"Our hiring plans are driven by more investment in product development, customer experience and new additions to the existing product suite so that we cater to the ever-evolving payment and banking needs of SMEs & MSMEs," said Chitbhanu Nagri, Senior Vice President, People Operations, Razorpay.

The full-stack financial solutions company raised $100 million in its Series D round of funding in October last year, making it another Indian unicorn with over $1 billion in valuation, joining the big startup-turned-unicorn league of BYJU's, Swiggy, Zomato, Paytm and more.

Razorpay powers payments for over 5 millions businesses, including Facebook, Airtel, BookMyShow, Ola, Zomato, Swiggy, CRED and ICICI Prudential among others, and is all set to reach 10 million businesses by next year.

"We are excited and looking forward to 650 more people joining us as we together work towards servicing the next 5 million businesses by 2022," Nagri added.