Payment infrastructure firm Juspay has secured $60 million in its Series D funding round, including primary and secondary investments. Kedaara Capital led the round, which also included existing investors Softbank and Accel.
The company intends to strengthen its investments in artificial intelligence to boost workforce productivity and enhance the merchant experience.
Juspay has expanded its presence to Asia-Pacific, Latin America, Europe, the UK, and North America. It also continues to invest in its open-source payments orchestration platform, which provides enterprise merchants greater flexibility and transparency in managing their payments infrastructure.
“For the past decade, Juspay’s mission has been to create long-term value across the payments ecosystem—supporting merchants, banks, networks, and, by extension, the billions of users they serve,” said Sheetal Lalwani, Co-founder & COO of Juspay. “Today, as we expand our global footprint and push the boundaries of AI, we remain committed to building open source and interoperable payment systems that embrace the growing diversity in the payments landscape. We welcome Kedaara Capital, we could significantly benefit from their rich experience as we build towards the next phase of our growth”, he added.
Founded in 2012 by Vimal Kumar and Sheetal Lalwani, Juspay provides various products such as checkout, authentication, tokenization, payouts, and unified analytics. The company powers over 200 million transactions daily, with an annual processed volume surpassing $900 billion.
“We’re excited to partner with Juspay as they revolutionize global payments,” said Nishant Sharma, Founder and Managing Partner at Kedaara Capital. “Their strong tech foundation, open-source approach, and visionary leadership make them a standout. We look forward to supporting Vimal, Sheetal, and the team as they scale a resilient, future-ready platform for leading enterprises and financial institutions.”
This development follows a series of parting ways between Juspay and its long-term fintech partners, including Razorpay, Cashfree, Paytm, and PhonePe, over the past few months.
These fintech companies are urging their merchants to discontinue third-party payment orchestration platforms. Such platforms act as routing services, directing transactions to the banks and aggregators most likely to ensure successful transactions and minimize failures.
In February 2024, the Reserve Bank of India approved Juspay to operate as a payment aggregator (PA).
Backed by SoftBank, Juspay reported a revenue of ₹319.32 crore for FY24, up from ₹213.39 crore in FY23, marking a 49.6% year-on-year growth. The company also reduced its losses by 10% during the same period.
According to data from Tracxn, Juspay has raised a total of $88 million across three funding rounds to date.
