Bengaluru-based payments infrastructure powerhouse, Juspay, has announced a significant milestone in its growth journey, securing $60 million in a Series D funding round. The investment, spearheaded by prominent private equity firm Kedaara Capital, underscores the immense potential and disruptive force of Juspay in the global payments landscape. Existing investors, including SoftBank and Accel, also participated in this round, demonstrating their continued faith in the company’s vision. Notably, early investor VEF partially exited, realizing $14.8 million while still retaining a substantial 7.8% stake. This latest infusion of capital brings Juspay’s total funding to nearly $147 million, signaling a new phase of accelerated expansion and innovation.
Decoding Juspay: The Engine Behind Seamless Transactions
Founded in 2012, Juspay has quietly become a critical backbone for numerous banks and large enterprises, powering their payment technology infrastructure. The company offers a comprehensive suite of solutions designed to streamline and optimize the payment process. This includes sophisticated orchestration capabilities, seamless checkout experiences, robust tokenization for enhanced security, reliable 3DS authentication, real-time payment infrastructure for swift transactions, and unified analytics for insightful data-driven decision-making. The sheer scale of Juspay’s operations is staggering, with the company claiming to process over 200 million transactions daily and an annual processed volume exceeding a remarkable $900 billion.
Driving Innovation and Global Ambitions with Fresh Capital
The newly secured $60 million will be strategically deployed to fuel two key areas: the advancement of Juspay’s open-source payments orchestration platform, Hyperswitch, and the integration of cutting-edge Artificial Intelligence (AI) capabilities. Hyperswitch aims to revolutionize the payments ecosystem by providing an open and interoperable platform, fostering greater flexibility and choice for businesses. Simultaneously, the investment in AI will focus on enhancing merchant experiences and boosting operational efficiency, further solidifying Juspay’s position as a technology leader.
Sheetal Lalwani, Co-founder and COO of Juspay, aptly summarized the company’s long-term vision: “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. 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.”
Eyeing Global Expansion and Impressive Financial Growth
Beyond technological advancements, the funding will also power Juspay’s ambitious international expansion plans. The company is actively scaling its presence across key global markets, including the Asia-Pacific region, Europe, Latin America, the UK, and North America. This strategic global push comes at a crucial time, driven by the increasing demand for open and modular infrastructure within the often-fragmented global payments ecosystem.
Juspay’s financial performance further validates its strong market position and growth trajectory. In the fiscal year 2024, the company reported a robust revenue of Rs 319.3 crore, marking a significant nearly 50% increase from the Rs 213.4 crore recorded in the previous year. While the company still reported losses, it successfully narrowed them by 7.8% to Rs 97.5 crore, indicating a move towards greater financial sustainability. With existing offices in San Francisco, São Paulo, Dublin, and Singapore, Juspay is building a truly global footprint. In addition to its merchant-facing services, Juspay also functions as a crucial technology service provider (TSP) for real-time payment infrastructure, supporting numerous financial institutions both in India and internationally.
Kedaara Capital’s Nishant Sharma expressed his enthusiasm for the partnership, stating, “We’re excited to partner with Juspay as they revolutionize global payments. 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.” With this significant Series D funding, Juspay is well-positioned to accelerate its innovation, expand its global reach, and further solidify its role as a pivotal player in shaping the future of payments. Avendus Capital served as the exclusive financial advisor for this noteworthy transaction.
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