Juspay Secures $60 Million Investment Led by Kedaara Capital

Juspay, a payment infrastructure company, has received $60 million in funding. The Series D round involved both primary and secondary investments. Kedaara Capital led the investment, with participation from existing investors Softbank and Accel.

Avendus Capital served as the financial advisor for this transaction.

The company, headquartered in Bengaluru, India, will use the funds to expand its global operations and enhance its artificial intelligence capabilities. Juspay currently has a presence in the Asia-Pacific, Latin America, Europe, the UK, and North America. It also plans to further develop its open-source payments platform.

“For the past decade, Juspay’s mission has been to create long-term value across the payments ecosystem… 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,” said Sheetal Lalwani, co-founder & COO of Juspay. 

Nishant Sharma, founder and managing partner at Kedaara Capital, commented, “We’re excited to partner with Juspay as they revolutionise global payments… Their strong tech foundation, open-source approach, and visionary leadership make them a standout.”

Founded in 2012, Juspay provides payment solutions for merchants and banks, including orchestration, checkout, authentication, tokenisation, analytics, and real-time payment infrastructure. The company processes over 200 million transactions daily, totaling over $900 billion annually.

Recently, Payment gateways (PGs) have been urging their merchant partners to disconnect from Juspay, a payment orchestration platform (POP), due to concerns over transparency and integration issues. 

Companies like Paytm, PhonePe, Razorpay, and Cashfree Payments have asked merchants to stop using Juspay. Paytm, for instance, will route transactions through its own arm, Paytm Payments Services Limited (PPSL), starting April 2025.