Juspay Raises $60M Series D Led by Kedaara Capital to Power Global Expansion and AI Push

Arathy Augusthy·Apr 8, 2025·2 min read

Juspay raised $60 million in a Series D round led by Kedaara Capital, with participation from SoftBank and Accel.
The funds will be used to expand globally and enhance its open-source payments platform, Hyperswitch, and AI capabilities.

Bengaluru-based payments infrastructure startup Juspay has secured $60 million in a Series D funding round, with private equity firm Kedaara Capital leading the investment.

The round included both primary and secondary transactions and saw participation from returning backers SoftBank and Accel. Early investor VEF partially exited during the round, earning $14.8 million in gross proceeds while maintaining a 7.8% stake.

Reinforcing a Global Vision

Founded in 2012, Juspay offers end-to-end payment technology solutions to banks and enterprises. Its services include orchestration, checkout, tokenization, 3DS authentication, real-time payment infrastructure, and unified analytics. The company processes over 200 million transactions daily, with an annual processed volume exceeding $900 billion.

Juspay plans to channel the new funds into expanding its international footprint and enhancing its open-source orchestration platform, Hyperswitch. The startup also aims to boost its AI capabilities to refine merchant experiences and drive operational efficiency.

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“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,” said Sheetal Lalwani, Co-founder and COO of Juspay.

Backing Open Source and Innovation

Nishant Sharma, Founder and Managing Partner at Kedaara Capital, stated,

“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.”

Juspay is actively expanding across the Asia-Pacific, Europe, Latin America, the UK, and North America. With offices in San Francisco, São Paulo, Dublin, and Singapore, the company also serves as a technology service provider for real-time payment systems globally.

In FY24, Juspay reported a revenue of ₹319.3 crore, marking a 50% jump from ₹213.4 crore in FY23, while losses narrowed slightly to ₹97.5 crore. Including this round, Juspay has raised nearly $147 million to date. Avendus Capital acted as the exclusive financial advisor for the transaction.

Edited by Harshajit Sarmah