Juspay Secures $60 Million in Funding to Enhance AI Capabilities and Expand Global Reach

Juspay Secures $60 Million Investment Led by Kedaara Capital

The company, headquartered in Bengaluru, India, will use the funds to expand its global operations and enhance its artificial intelligence capabilities. Juspay, a payment infrastructure company, has received $60 million in funding. The Series D round involved both primary and secondary investments. Kedaara Capital led the investment, with participation from existing investors Softbank and Accel. Avendus Capital served as the financial advisor for this transaction. The company, headquartered in Bengaluru, India, will use the funds to expand its global operations and enhance its artificial intelligence capabilities. Juspay currently has a presence in the Asia-Pacific, Latin America, Europe, the UK, and North America. It also plans to further develop its open-source payments platform. "For the past decade, Juspay's mission has been to create long-term value across the payments ecosystem... Today, as we expand our global footprint and push the boundaries of AI, we remain committed to building truly open source and interoperable payment systems that embrace the growing diversity in the payments landscape," said Sheetal Lalwani, co-founder & COO of Juspay. Nishant Sharma, founder and managing partner at Kedaara Capital, commented, "We're excited to partner with Juspay as they revolutionise global payments... Their strong tech foundation, open-source approach, and visionary leadership make them a standout." Founded in 2012, Juspay provides payment solutions for merchants and banks, including orchestration, checkout, authentication, tokenisation, analytics, and real-time payment infrastructure. The company processes over 200 million transactions daily, totaling over $900 billion annually. Recently, Payment gateways (PGs) have been urging their merchant partners to disconnect from Juspay, a payment orchestration platform (POP), due to concerns over transparency and integration issues. Companies like Paytm, PhonePe, Razorpay, and Cashfree Payments have asked merchants to stop using Juspay. Paytm, for instance, will route transactions through its own arm, Paytm Payments Services Limited (PPSL), starting April 2025.

Juspay secures $60 million from Kedaara Capital, others

This round comes more than two years after Juspay raised $60 million in a funding round led by SoftBank. In a secondary investment, the funds infused do not go to the company but instead go to existing investors selling their shares.Bengaluru-based payment aggregator Juspay has secured $60 million in a round led by Kedaara Capital with existing investors SoftBank and Accel participating. The round is a mix of primary and secondary investments. In a secondary investment, the funds infused do not go to the company but instead go to existing investors selling their shares. This round comes more than two years after Juspay raised $60 million in a funding round led by SoftBank. The company did not comment on the valuation at which the round was closed. Juspay, which primarily offers a payment orchestration platform to online merchants, has now expanded into the larger payment aggregator space, offering a full-stack payment service to its clients. The company is embroiled in a major controversy with industry peers PhonePe, Razorpay and Paytm, which are pushing their merchants to stop using any third-party payment orchestration platform. An orchestration platform is a router service that channels transactions to those banks and aggregators where the chance of a successful transaction is the highest. This ensures transactions do not fail. Juspay has expanded its operations across multiple new geographies across the Asia-Pacific region, Latin America, Europe, the UK and North America. Armed with the fresh funds, the company said that it plans to further advance its 'artificial intelligence' capabilities to build solutions aimed at improving workforce productivity and merchant experience. "Today, as we expand our global footprint and push the boundaries of AI, we remain committed to building truly open source and interoperable payment systems that embrace the growing diversity in the payments landscape," said Sheetal Lalwani, cofounder and chief operating officer, Juspay. Juspay offers payments services to more than 500 global enterprises, banks, and card schemes, processing more than 200 million transactions daily. It processes over $900 billion in annual total processed volume.

Juspay raises $60 million

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. The investment was led by Kedaara Capital with participation from existing investors Softbank and Accel. Founded in 2012, Juspay's flagship Hyperswitch platforms provides a full-stack open source checkout experience, combining 3DS authentication, tokenization, and analytics for enterprise merchants, as well as end-to-end payments acceptance and real-time payments infrastructure for banks. Headquartered in Bengaluru, India, with offices in San Francisco, Sao Paulo, Dublin, and Singapore, the firm processes more than 200Mn transactions daily with over $900Bn in annual total processed volume. The new funding will be applied to accelerate global growth and for the embedding of artificial intelligence into its product suite. Sheetal Lalwani, co-founder & COO of Juspay, says: "Today, as we expand our global footprint and push the boundaries of AI, we remain committed to building truly 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."

Juspay closes $60 million funding from Kedaara Capital, others; valuation doubles to more than 900 million

This round comes more than two years after Juspay raised $60 million in a funding round led by SoftBank. In a secondary investment, the funds infused do not go to the company but instead go to existing investors selling their shares.Bengaluru-based payment aggregator Juspay has closed a $60 million financing round led by domestic private equity fund Kedaara Capital with existing investors SoftBank and Accel participating. The funding round, a mix of primary and secondary investments, ascribes a valuation of more than $900 million to the the company, three people in the know said. Data from business intelligence platform Tracxn shows that Juspay was valued at $440 million in 2022. People in the know said the primary funds being infused in Juspay is around $10 million with rest of the round facilitating secondary sale by existing shareholders to incoming ones. The company did not disclose of the funding deal. Responding to ET's queries a spokesperson for Juspay said that Swedish fintech-focused investment firm VEF sold part of its 10.2% stake in Juspay for $14.8 million, as a part of the secondary component in this round. The firm had invested $21 million in Juspay over two fund infusions in 2020 and 2022. The financing comes more than two years after Juspay raised $60 million in a funding round led by SoftBank. Juspay, which primarily offers a payment orchestration platform to online merchants, has now expanded into the larger payment aggregator space, offering a full-stack payment service to its clients. The expansion of its services has led Juspay to start competing with the existing Indian payment aggregators. The company is embroiled in a major controversy with industry peers PhonePe, Cashfree, Razorpay and Paytm, which are pushing their merchants to stop using any third-party payment orchestration platform. An orchestration platform is a router service that channels transactions to those banks and aggregators where the chance of a successful transaction is the highest. This ensures transactions do not fail. Juspay secured the payment aggregator licence from the central bank in February 2024. Speaking with ET back in December, 2023 its cofounder Sheetal Lalwani said that the company will be focusing on powering business payment solutions as an aggregator and work on emerging use-cases like ONDC (Open Network for Digital Commerce) and OCEN (Open Credit Enablement Network). Juspay has expanded its operations across multiple new geographies across the Asia-Pacific region, Latin America, Europe, the UK and North America. Armed with the fresh funds, the company said that it plans to further advance its 'artificial intelligence' capabilities to build solutions aimed at improving workforce productivity and merchant experience. "Today, as we expand our global footprint and push the boundaries of AI, we remain committed to building truly open source and interoperable payment systems that embrace the growing diversity in the payments landscape," said Lalwani, cofounder and chief operating officer, Juspay. Juspay offers payments services to more than 500 global enterprises, banks, and card schemes, processing more than 200 million transactions daily. It processes over $900 billion in annual total processed volume.

Juspay Secures $60 Mn To Boost Payments Infra With AI

Juspay is a full-stack software-as-a-service (SaaS) platform which offers digital payment gateway services Fintech startup Juspay has secured $60 Mn (around INR 514 Cr) in a Series D funding round led by Kedaara Capital, along with participation from existing investors SoftBank and Accel. The round was a mix of primary and secondary investments. The startup plans to deploy the fresh capital to fuel its AI capabilities and drive innovations to boost workforce productivity and merchant experience. "Today, as we expand our global footprint and push the boundaries of AI, we remain committed to building truly open source and interoperable payment systems that embrace the growing diversity in the payments landscape," said Sheetal Lalwani, cofounder and chief operating officer (COO) of Juspay. Founded by Vimal Kumar and Ramanathan RV in 2012, Juspay is a full-stack software-as-a-service (SaaS) platform which offers digital payment gateway services. The startup claims to strengthen businesses with fraud prevention capabilities and optimising operational cost.