Bengaluru-based Juspay has raised $60 million in a funding round led by private equity firm Kedaara Capital

Bengaluru-based payments infrastructure startup Juspay has raised $60 million in a Series D funding round led by private equity firm Kedaara Capital. The round included both primary and secondary transactions, with participation from existing investors SoftBank and Accel. Early investor VEF partially exited the company, securing $14.8 million in gross proceeds while retaining a 7.8% stake.

What Juspay Does

Founded in 2012, Juspay provides advanced payment technology solutions for banks and large enterprises. Its suite of services includes orchestration, checkout, tokenization, 3DS authentication, real-time payment infrastructure, and unified analytics.

The startup claims to process over 200 million transactions daily, with an annual processed volume exceeding $900 billion.

“For the past decade, Juspay’s mission has been to create long-term value across the payments ecosystem—supporting merchants, banks, networks, and the billions of users they serve,” said Sheetal Lalwani, Co-founder and COO of Juspay.

“As we expand globally and explore the possibilities of AI, we remain committed to building open-source, interoperable payment systems that embrace the evolving payments landscape.”

Purpose of Fundraising

The newly raised capital will be used to accelerate the development of Juspay’s open-source payments orchestration platform, Hyperswitch, and to advance its AI capabilities aimed at enhancing merchant experience and operational efficiency.

“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.”

Global Expansion and Financial Performance

Juspay is actively expanding its international footprint, with operations in the Asia-Pacific, Europe, Latin America, the UK, and North America. This global push aligns with the rising demand for modular, interoperable infrastructure in the fragmented payments ecosystem.

Financially, Juspay reported revenue of ₹319.3 crore in FY24, a 49.6% increase from ₹213.4 crore in FY23. Losses narrowed slightly to ₹97.5 crore, a 7.8% improvement from the previous fiscal year.

The company now operates across multiple global hubs, with offices in San Francisco, São Paulo, Dublin, and Singapore. In addition to serving merchants, Juspay acts as a Technology Service Provider (TSP) for real-time payment systems, supporting several financial institutions across India and abroad.

Including the latest round, Juspay has raised approximately $147 million to date. Its previous $60 million Series C round was led by SoftBank Vision Fund 2, with participation from VEF and Wellington Management.

Avendus Capital acted as the exclusive financial advisor for this transaction.