Juspay secures $60 Mn from Kedaara, SoftBank and Accel

Payment technology company Juspay has raised $60 million as a part of Series D funding round led by Kedaara Capital. The round comprises both primary and secondary investments, with existing investors SoftBank and Accel also participating.

The Bengaluru-based firm has raised a new round after a gap of more than three years. In December 2021, it secured $60 million in a Series C round led by SoftBank Vision Fund 2. The company was valued at $460 million during that round. While media reports suggest it could achieve unicorn status in the Series D round, the company did not comment on the valuation.

With the fresh funding, Juspay plans to deepen its investments in artificial intelligence to enhance workforce productivity and improve the merchant experience, the company said in a press release.

The funding comes at a time when several payments platforms — including Paytm, PhonePe, Cashfree, and Razorpay — have ended their partnerships with Juspay as a third-party orchestration provider.

Launched in 2012, Juspay provides full-stack orchestration, checkout experience, 3DS authentication, tokenisation, unified analytics, and value-added services for enterprise merchants, as well as end-to-end payments acceptance and real-time payments infrastructure for leading banks

The company claims to process more than 200 million transactions daily at 99.999% reliability, with over $900 billion in annual total processed volume.

Besides India, Juspay has extened its services to Asia-Pacific, Latin America, Europe, the UK, and North America.

Juspay’s revenue from operations grew 49.6% to Rs 319.32 crore in FY24 from Rs 213.39 crore in FY23. During the period, it managed to cut losses by 7.8% to Rs 97.54 crore.