During the Y Combinator Startup School event in Bengaluru, Harshil Mathur (CEO of Razorpay) discussed the unique challenges and rewards of building a fintech company in a regulated environment. He noted that while regulations can slow growth, they also deter less patient founders. Mathur revealed that Razorpay, founded in 2014, has grown significantly, processing $180 billion in payments, a substantial increase from the $60 billion market estimate he provided in his Y Combinator application. The company, valued at $7.5 billion in its last funding round in 2021, is preparing for a public listing aiming for ₹4,500 crore (approximately $540 million USD). Mathur recounted early struggles, including a critical moment when their banking partner withdrew support, leading to temporary service disruptions. However, he emphasized the importance of maintaining relationships with merchants during tough times, stating that those who faced issues early on are still loyal customers. Razorpay's strategic adoption of the Unified Payments Interface has been pivotal in its growth, especially during the pandemic when many direct-to-consumer brands emerged.