Startup Mafia 3.0: Razorpay, Cred, Meesho help spawn 200+ founders

Executives from India’s second generation of high-growth startups (2014–2025) have spawned a new wave of founders, with 184 founders launching ~203 startups after stints across 111 companies, according to Longhouse data.

Among the leading contributors, Razorpay has produced 39 founders, followed by Cred with 38, Meesho with 27, and PhonePe with 22, highlighting the growing strength of ‘startup mafia’ networks in India’s evolving entrepreneurial ecosystem.

“Startup Mafia 3.0 reflects a more mature and expansive entrepreneurial ecosystem, compared with earlier waves,” said Anshuman Das, Chief Executive and Founder, Longhouse. “The investor landscape has also expanded significantly, with a wide range of funding sources including angel investors, family offices, early-stage venture capital firms and specialised thematic funds,” Das said, adding that founders no longer need to rely solely on large global investors; smaller and more specialised funds are willing to back niche ideas.