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Kedaara Capital Leads Investment in Payment Technology Platform with Participation from Existing Backers SoftBank and Accel
Bengaluru-based payment technology company Juspay has successfully secured $60 million (approximately ₹514 crore) in a Series D funding round, marking a significant milestone in the company’s growth journey. The investment was spearheaded by Kedaara Capital, with continued support from existing investors SoftBank and Accel. This latest capital infusion combines both primary and secondary investments, reflecting strong investor confidence in Juspay’s business model and growth trajectory.
This financing round comes after a three-year interval since the company’s previous fundraising. In December 2021, Juspay had raised $60 million in its Series C round led by SoftBank Vision Fund 2, which valued the company at $460 million. While recent media reports have suggested the possibility of Juspay achieving unicorn status (valuation of $1 billion or more) with this Series D investment, the company has not disclosed its current valuation.
Strategic Investment in Artificial Intelligence
According to its press release, Juspay plans to utilize the fresh capital to deepen its investments in artificial intelligence technologies. These investments are specifically aimed at enhancing workforce productivity and improving the overall merchant experience on its platform.
“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,” stated Sheetal Lalwani, co-founder and Chief Operating Officer (COO) of Juspay, highlighting the company’s strategic direction.
Comprehensive Payment Technology Solutions
Founded in 2012 by Vimal Kumar and Ramanathan RV, Juspay has established itself as a full-stack software-as-a-service (SaaS) platform providing digital payment gateway services. The company offers a comprehensive suite of payment solutions including full-stack orchestration, checkout experience, 3DS authentication, tokenization, unified analytics, and value-added services tailored for enterprise merchants.
Additionally, Juspay provides end-to-end payment acceptance and real-time payment infrastructure for leading banks. The startup also emphasizes its capabilities in fraud prevention and optimization of operational costs for businesses using its platform.
Impressive Scale and Performance Metrics
Juspay has achieved remarkable operational scale in the digital payments space. The company reports processing more than 200 million transactions daily with 99.999% reliability—an industry-leading standard. Its annual total processed volume exceeds $900 billion, demonstrating the platform’s substantial market penetration and transaction capacity.
The company’s financial performance has also shown strong momentum. Revenue from operations grew by 49.6% to ₹319.32 crore in FY24, up from ₹213.39 crore in FY23. During the same period, Juspay managed to reduce its losses by 7.8% to ₹97.54 crore, indicating improved operational efficiency alongside revenue growth.
Global Expansion Beyond India
While Juspay established its foundation in the Indian market, the company has successfully expanded its geographical footprint over the years. Beyond India, it now offers its services across multiple regions including Asia-Pacific, Latin America, Europe, the United Kingdom, and North America. This global presence positions Juspay as an international player in the payment technology sector.
The new funding arrives at a time of evolving relationships within the payments ecosystem. Several prominent payment platforms—including Paytm, PhonePe, Cashfree, and Razorpay—have reportedly ended their partnerships with Juspay as a third-party orchestration provider. This shift in industry dynamics makes the fresh capital particularly significant as Juspay adapts to changing market conditions.
Looking Ahead
With its strengthened financial position, Juspay appears well-positioned to accelerate its technological innovation, particularly in AI, while continuing its global expansion efforts. The company’s focus on building open-source and interoperable payment systems aligns with the increasing diversity and complexity of the global payments landscape.
The continued backing from major investors like SoftBank and Accel, alongside new investor Kedaara Capital, suggests strong confidence in Juspay’s business model, leadership team, and growth prospects in the competitive fintech sector.
