The Indian Unicorn Club has a new entrant! Razorpay, a payment gateway provider announced on Monday that it has raised $100 million in series D funding which led the company’s evaluation a little over $1 billion.

The current round of funding was led by GIC, Singapore’s sovereign wealth fund that specializes in investing in financial companies. The round was co-led by Sequoia and saw participation from existing investors Ribbit Capital, Tiger Global, Y-Combinator and Matrix Partners.

“GIC is also a great partner at this stage of the company because they are a significant public market investor.They are a major investor in marquee financial companies like Bajaj Finance, Bandhan Bank and many others,” said Shashank Kumar, Co-founder, Razorpay in a statement.

With the current round of funding the company’s total funds raised so far increased to $206.5 million.

Headquartered in Bangalore, Razorpay was founded by Shashank and HarshilMathur in 2014. The company provides businesses the flexible ability to accept payments across multiple channels – whether online, through links, via self-hosted pages or third party branded stores or through a QR code.

From serving global giants such as Facebook, Google and Wikipedia, to national enterprises like Jio, Zerodha and Hotstar, the company also works with young companies such asKhatabook, OkCredit or Meesho along with a multitude of SMEs and freelancers.

The company is the fifth fintech startup to join the unicorn club after Paytm, Phonepe, PolicyBazaar and BillDesk. It is also the first operational neobank to become a unicorn.