Disclosed herein is method and system for processing data in serverless computing environment. In an embodiment, information related to functions associated with plurality of serverless computing platforms and the data to be processed are received from data sources. Thereafter, processing operations required for processing the data are determined based on characteristics of data and domain related to data. Further, confidence scores for each function is determined by correlating processing operations and information related to functions. A target function for performing processing operations is identified based on evaluation of confidence scores, and the target function is deployed by forwarding data to serverless computing platform associated with the target function. Finally, the data is processed when an event is triggered for processing the data by target function. In an embodiment, present disclosure eliminates need to create and maintain servers by dynamically selecting an optimal serverless computing platform for processing the data.