I have one and like it a lot. I use it when I don't want to carry a purse but a small wallet in my pocket. I can't recall the exact size of the Razr but I don't think it will fit. You may want to check the dimensions of the coin purse to be sure.
Honestly speaking, I don't think it's a good idea to use a zippy coin purse as cell phone holder - if that's the main purpose you have in mind. I bought a mini pochette with the intention of using it to hold my cell phone, but eventually found it too much of a hassle to zip and unzip everytime I need to access the cell phone...so I ended up using it to hold other small items.
No it won't fit. I'm sure. If anything, why not get like, a mini pochette instead? It could easily double as a cell phone holder and a small purse. Might be a better idea than the zcp, which won't fit the cell without making the wallet look like a bulge.