Juspay, a payment infrastructure company for enterprises and banks, has received $60 million as part of its Series D financing anniversary led by Kedaara Capital, with existing investors Softbank and Accel.
According to a statement from early investor VEF, the company will receive a total share gain of $14.8 million in the round, while retaining 7.8% ownership of Juspay.
According to sources close to the development, the remaining close to $45.2 million is a major component of the funding round.
The company declined to disclose its valuation or the distribution between major and minor funds in this round.
VEF has invested a total of $21.1 million in the company, investing $13 million in Juspay’s Series B Series B in 2020 and contributed $8.1 million in its Series C Series C in 2022.
This is the decision in which payment aggregators Razorpay, CashFree and PhonePe announced the transition from third-party orchestration platforms such as Juspay to encourage merchants to use their in-house orchestration services.
Expansion Plan
“JUSPAY aims to use the funds to expand its global footprint in the Asia-Pacific, Latin America, Europe, the UK and North America,” said Sheetal Lalwani, co-founder and COO of Juspay. Mint Query.
Lalwani added that the company also plans to accelerate the growth of its open source payment orchestration platform, HyperSwitch, and improve its AI capabilities to build innovations designed to increase workforce productivity and merchant experience.
Founded in 2012, Juspay offers comprehensive orchestration, checkout experience, 3DS authentication, unified, unified analysis, unified analysis and value-added services for corporate merchants, providing leading payments in addition to final payments and substantial payments.
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Despite the growth, Juspay managed to reduce its losses by 7.8% ₹975,400 ₹The previous fiscal year was 1.0575 million.
The SoftBank-backed company reported a 49.6% increase in revenue ₹31.932 billion in fiscal year 24 ₹213.39 million in fiscal year 233. Despite the growth, Juspay managed to reduce its losses by 7.8% ₹975,400 ₹The previous fiscal year was 1.0575 million.
Claiming its headquarters in Bangalore and offices in San Francisco, St. Paul, Dublin and Singapore, Juspay claims to be supporting clients around the world, processing more than $200 million in transactions per day and processing a total of more than $900 million a year.
“Their strong technology foundations, open source approaches and visionary leadership make them outstanding. We look forward to supporting Vimal, Sheetal and the team as they expand the resilience of leading enterprises and financial institutions, a future ready platform.”
Since its inception in 2021, the company has raised nearly $147 million. It raised a last $60 million Series C C financing, led by Softbank Vision Fund 2, and participated in the participation of existing investors VEF and Wellington management.
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Avendus Capital acted as the exclusive financial advisor to Juspay in the deal, the company added in the statement.
