Juspay Secures $60 Million in Series D Funding Round

Payment technology company Juspay has successfully raised $60 million in a Series D funding round, spearheaded by Kedaara Capital. This round includes both primary and secondary investments, with participation from existing investors such as SoftBank and Accel.

The Bengaluru-based company has initiated this new funding round after over three years. Previously, in December 2021, Juspay secured $60 million during its Series C round, which was led by the SoftBank Vision Fund 2. At that time, Juspay was valued at $460 million. Although there are media speculations regarding its potential unicorn status in this Series D round, the company has refrained from commenting on its current valuation.

With the recent funding, Juspay aims to amplify its investments in artificial intelligence to boost workforce efficiency and enhance the experience for merchants, as indicated in a press release.

This funding arrives amidst a backdrop where various payment platforms, including Paytm, PhonePe, Cashfree, and Razorpay, have ceased their collaborations with Juspay as a third-party orchestration provider.

Overview of Juspay’s Offerings

Founded in 2012, Juspay delivers comprehensive orchestration services, checkout experiences, 3DS authentication, tokenisation, unified analytics, and value-added solutions for enterprise merchants. Additionally, it offers end-to-end payment acceptance and real-time payments infrastructure for major banks.

The company asserts that it processes over 200 million transactions each day, boasting a reliability rate of 99.999%, with an annual total processed volume exceeding $900 billion.

Expansion Beyond Indian Borders

In addition to its operations in India, Juspay has extended its reach to the Asia-Pacific, Latin America, Europe, the UK, and North America.

Financial Performance in FY24

Juspay’s operational revenue surged by 49.6% to Rs 319.32 crore in FY24, up from Rs 213.39 crore in FY23. During the same financial period, the company successfully reduced its losses by 7.8%, amounting to Rs 97.54 crore.