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,

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.

Cashfree Payments raises US$53 million in a funding round led by KRAFTON and Apis Partners to expand its payments infrastructure and more.

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.

Payments solutions startup Cashfree Payments has raised USD 53 million (Rs 450 crore) in a funding round spearheaded by South Korean digital entertainment giant KRAFTON, with continued support from existing investor Apis Growth Fund II,

Cashfree Payments secures $53 million funding from KRAFTON and Apis Growth Fund II for payment innovation and global expansion.

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.