Curlec
Curlec (Razorpay Curlec Sdn. Bhd.) is a Malaysian full-stack digital payments platform offering payment gateway, recurring billing, payouts, and cross-border India–Malaysia settlement for SMBs, e-commerce merchants, and subscription-based businesses.
- Company typePrivate
- Founded2020
- HeadquartersKuala Lumpur, Malaysia
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
What Curlec does
Curlec, legally Razorpay Curlec Sdn. Bhd. and headquartered in Kuala Lumpur, is a Malaysian full-stack digital payments platform founded in 2020 and acquired by India's Razorpay in July 2023. The company provides payment gateway, payment links, payment pages, GST-compliant invoicing, recurring subscriptions with e-mandate support, multi-party split settlements (Route), real-time payouts, direct debit, e-wallet collection, BNPL via Atome, and startup payroll (X-Payroll) to Malaysian small and medium businesses, e-commerce merchants, and subscription-based companies. Its primary customers are Malaysian SMBs and digital disruptors seeking to replace manual, WhatsApp-based payment collection with a compliant digital infrastructure, supported by self-serve online signup and instant activation.
The platform is built on a REST API architecture returning JSON responses, with server-side SDKs, mobile SDKs for iOS, Android, and React Native, and pre-built plugin integrations for WooCommerce, Shopify, Magento, OpenCart, and BigCommerce. Security and regulatory positioning is a core technical asset: Curlec is 100% PCI DSS compliant (verified by QRC Solutions), regulated by Bank Negara Malaysia as a payment service provider, and an official member of PayNet, giving it access to Malaysia's national payment rails including FPX and DuitNow. The Razorpay parent provides cross-border infrastructure enabling Malaysian merchants to accept payments from Indian consumers via UPI, RuPay, Netbanking, and Cards without establishing an Indian entity.
Curlec monetizes through transaction-based pricing (per-payment convenience fees), subscription and recurring service charges, and optional value-added services such as customizable compliance templates. Distribution is primarily self-serve, with no publicly disclosed fee schedule and settlement typically within two working days. The strategic partnership stack — Visa for instalments, NPCI International for UPI, ShopBack Pay for loyalty-driven checkout, and the Razorpay group as acquirer — extends the platform beyond pure processing into credit, rewards, and cross-border commerce. The investor base includes Sequoia Capital India, Tiger Global, Lone Pine Capital, and TCV, providing institutional backing through the Razorpay group rather than direct Curlec funding rounds, which were limited to early-stage participation by Captii Ventures and 500 Global.
Curlec firmographics
Firmographics- Name
- Curlec
- Legal name
- Razorpay Curlec Sdn. Bhd.
- Website
- https://curlec.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Curlec (Razorpay Curlec Sdn. Bhd.) is a Malaysian full-stack digital payments platform offering payment gateway, recurring billing, payouts, and cross-border India–Malaysia settlement for SMBs, e-commerce merchants, and subscription-based businesses.
- Ownership category
- akta.pro rank
Curlec industry classification
Industry- Product category
- Online Payment Gateway / Payment Processing
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Finance Services (6199), Services-Computer Programming, Data Processing, Etc. (7370)
- akta.pro primary industry
- Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA)
- akta.pro secondary industries
- Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB), Cross-Border Payouts & Mass Disbursements (Pay-outs) (FSAMAIAJ), A2A Payment Initiation Service Providers (PISPs) (FSAMAFAB)
Keywords
Where Curlec is headquartered
LocationHeadquarters
- HQ city
- Kuala Lumpur
- HQ country
- Malaysia
- HQ region
- Asia
Offices1 record
Markets served
Curlec business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Payment Processing / Transaction Fees: Transaction convenience fees charged on each payment processed through the platform. Fees are charged according to rates and frequency determined by Curlec, exclusive of applicable taxes. Primary revenue driver for payment aggregation services.
- Subscription / Recurring Payment Services: Fees for subscription management services enabling automated recurring transactions via cards, direct debit, and e-wallets with e-mandate functionality.
- Value-Added Services: Additional charges for optional services available on the dashboard, including customisable templates for terms of use, privacy policy, and return/refund policies.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Monthly | Transaction-based pricing |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
Curlec product offering
Product offeringCore offering
Curlec provides a full-stack digital payment platform for Malaysian businesses to accept, process, and manage online payments. Its core offerings include a Payment Gateway supporting multiple payment methods (cards, FPX, e-wallets, DuitNow), Payment Links, Payment Pages, Subscriptions with e-mandate support, Payouts, and Route (multi-party split settlements). The platform serves SMBs, e-commerce merchants, and subscription-based businesses with self-serve onboarding, developer APIs, and plugin integrations for major e-commerce platforms.
Product overview
Razorpay Curlec is a full-stack payments platform providing a unified suite of payment solutions for Malaysian businesses. The core offering includes Payment Gateway, Payment Links, Payment Pages, Payment Buttons, Invoices, and Subscriptions for accepting payments, combined with Route and Payouts for managing multi-party settlements and disbursements. Additional affordability features include Buy Now Pay Later (via Atome) while subscription management is supported through E-Wallet and Direct Debit options. The platform also offers X-Payroll for startup payroll automation. All products are powered by Razorpay's global infrastructure while maintaining local Malaysian payment standards compliance.
Differentiator
Problem solved
Functional benefit
Products and services
- Payment Gateway Core payment processing gateway for Malaysian businesses to accept payments on websites or apps, supporting Credit/Debit Cards, FPX, e-wallets, DuitNow, and Touch n Go eWallet. Built for SMBs, e-commerce merchants, and digital businesses seeking a seamless, multi-method payment experience.
- Payment Links Create and share payment links over email, text, and social media to accept payments instantly without requiring a website or app integration. Designed for SMBs and freelancers collecting one-off or ad-hoc payments.
- Payment Pages Custom-branded online stores with zero coding required to accept payments, featuring customizable checkout with logo and brand colors. Enables SMBs and startups to launch a branded checkout page quickly.
- Payment Buttons Embeddable payment buttons for quick checkout integration on websites and applications. Targeted at SMBs and online sellers needing lightweight buy-now functionality without a full storefront.
- Invoices Generate GST-compliant invoices and collect instant payments from customers with automated invoice generation and tracking. Built for Malaysian SMBs requiring tax-compliant invoicing with integrated payment collection.
- Subscriptions Manage recurring payments by automatically pulling funds from customers via cards, direct debit, and e-wallet on configurable billing cycles. Designed for SaaS companies, membership organizations, and any subscription-based Malaysian business.
- Route (Split Payments) Multi-party payments and split settlements engine for marketplace and platform businesses, providing full control over complex payment distributions and split settlements among multiple parties.
- Payouts Real-time payout automation and disbursement management for payroll, vendor payments, and customer refunds, including DuitNow Transfer integration. Enables Malaysian businesses to automate outgoing payment flows.
- X-Payroll Payroll solution designed for startups to automate employee salary payments and related compliance. Targets Malaysian startup employers seeking automated, compliant payroll disbursement.
- UPI Payments for Malaysia Enables Malaysian businesses to accept payments from Indian consumers via UPI, RuPay, Netbanking, and Cards without requiring an Indian entity. Launched in November 2025 in partnership with NPCI International as the first UPI acceptance offering in Malaysia.
- Visa Instalment Payments Instalment payment solutions in Malaysia in partnership with Visa, giving Malaysian consumers flexible payment options and merchants an alternative conversion-driving payment method at checkout.
Quantifiable outcome
- 42% reduction in payment processing fees
- +2 more outcomes
Companies that use Curlec
Customer profileNamed customers6 records
Segments3 records
Ideal customer profiles3 records
Curlec technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
Feature8 records
Curlec partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered flagship and core.
- NPCI InternationalflagshipPartnership to introduce UPI (Unified Payments Interface) payments in Malaysia for the first time, enabling Indian consumers to pay Malaysian merchants via UPI.
- ShopBack PaycorePartnership to power reward-driven checkout experiences for Malaysian businesses and shoppers, combining payment processing with loyalty rewards.
- VisaflagshipPartnership to launch instalment payment solutions in Malaysia, giving Malaysians more control over their finances through Visa's payment infrastructure.
- PayNetcoreNational payments network in Malaysia. Curlec is a member of PayNet and regulated by Bank Negara Malaysia, enabling integration with Malaysia's payment infrastructure including FPX and DuitNow.
- Bank Negara MalaysiacoreCentral bank of Malaysia that regulates payment service providers. Curlec is regulated by Bank Negara Malaysia for payment aggregation services.
- Y CombinatorcorePrestigious Silicon Valley technology accelerator that Curlec participated in as part of the Razorpay group.
Scale indicators3 records
Recent moves7 records
Expansion highlights5 records
Curlec competitors and assessment
Company assessmentDirect peers
- Billplz: Malaysian payment gateway focused on SMBs and recurring bill payments. Directly competes with Curlec on payment links, FPX, and subscription billing for the same Malaysian SMB segment.
- iPay88: Established Malaysian payment gateway acquired by NTT Data, serving merchants with multi-rail processing. Direct competitor in Malaysian e-commerce and offline payments.
- Razer Merchant Services: Malaysia-based payment gateway (formerly MOLPay) serving regional merchants with cards, FPX, and e-wallets. Overlaps directly with Curlec in Malaysian merchant acquiring and online checkout.
- SenangPay: Malaysian payment gateway targeting SMEs with online checkout and FPX integration. Competes in the same SMB pricing tier as Curlec.
Emerging players
- Xendit: Southeast Asia-focused payment gateway serving Indonesia, Philippines, and Malaysia. Comparable API-first product, target market, and recurring billing features to Curlec's offering.
- BillEase: SEA-focused BNPL provider integrated with Atome. Comparable BNPL offering and recurring payment angle but specializes in consumer credit rather than merchant acquiring.
- HitPay: Southeast Asia all-in-one payment platform for SMBs serving Singapore, Malaysia, and other markets. Comparable target segment (SMBs) and product scope (gateway, links, invoices, subscriptions).
Broad incumbents
- Stripe: Global payment gateway operating across 40+ markets including Malaysia. Comparable payment gateway, subscription billing, and developer-first API model, but serves a much broader merchant base.
- Adyen: Global enterprise payment platform with Malaysia coverage via local acquiring. Competes at the higher end of the merchant segment where Curlec's enterprise ambitions are growing.
Regional players
- 2C2P: Thailand-headquartered payment service provider with strong SEA presence. Comparable merchant acquiring, alternative payments, and cross-border capabilities to Curlec but focused more on Thailand and ASEAN enterprise.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Curlec social profiles
Digital presenceCurlec compliance and trust
Trust signalCompliance2 records
Curlec financial estimates
Financial estimateRevenue estimate
Valuation estimate
Curlec leadership team
Management profileNumber of profiles
Profiles1 record
Curlec funding detail
Funding detailFunding overview
Funding rounds3 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Curlec M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Curlec
What does Curlec do?
Curlec provides a full-stack digital payment platform for Malaysian businesses to accept, process, and manage online payments. Its core offerings include a Payment Gateway supporting multiple payment methods (cards, FPX, e-wallets, DuitNow), Payment Links, Payment Pages, Subscriptions with e-mandate support, Payouts, and Route (multi-party split settlements). The platform serves SMBs, e-commerce merchants, and subscription-based businesses with self-serve onboarding, developer APIs, and plugin integrations for major e-commerce platforms.
Is Curlec a public or private company?
Curlec is a private company. It is classified as corporate owned and is currently operating.
When was Curlec founded?
Curlec was founded in 2020. It employs 51 to 100 people.
Where is Curlec based?
Curlec is headquartered in Kuala Lumpur, Malaysia, in the Asia region.
How does Curlec make money?
Three revenue lines are on record. Payment Processing / Transaction Fees are the primary driver. The others are subscription / Recurring Payment Services and value-Added Services.
Who are Curlec's main competitors?
Direct peers on record are Billplz, iPay88, Razer Merchant Services and SenangPay. Emerging players are Xendit, BillEase and HitPay. Broad incumbents are Stripe and Adyen. 2C2P is listed as a regional player.
Does Curlec have an API?
Yes. Razorpay Curlec APIs are organized around REST and all responses are returned in JSON. Supports Web Integration, React Native, iOS Integration, Android Integration, and Ecommerce Plugins. Server-side SDKs available for multiple languages. API Playground (Beta) available. Developer documentation is at curlec.com/docs/api.
What industry is Curlec in?
Curlec's product category is Online Payment Gateway / Payment Processing. Its primary akta.pro industry code is FSAMACAA, Merchant Payment Gateways (API/Hosted Checkout), with a secondary code of FSAGALAB, Embedded Payments (Pay-ins, Pay-outs, Wallets). Its NAICS code is 522320 and its SIC code is 6199.