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.

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.

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.

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.

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

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