Softbank-Backed Juspay Raises $60 Mn in Series D from Kedaara Capital, Others

SoftBank-backed fintech infrastructure firm Juspay has secured $60 million as part of its Series D funding round, the company said in its official statement on Monday. Kedaara Capital led this investment round with participation from existing investors like Softbank and Accel. And Avendus Capital acted as the exclusive financial advisor to Juspay on this transaction.

The fintech firm will use the funds to advance its AI capabilities to build future-ready innovations aimed at improving workforce productivity and merchant experience. In addition, the company also continues to accelerate the growth of its open-source payment orchestration platform. So far, it has expanded its global footprint across Asia-Pacific, Latin America, Europe, UK, and North America.

“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, cofounder and COO of Juspay.

On the other hand, Kedaara Capital founder Nishant Sharma said 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,” he added.

Juspay provides full-stack orchestration, checkout experience, 3DS authentication, tokenization, unified analytics, and value-added services for enterprise merchants, as well as end-to-end payments acceptance and real-time payments infrastructure for leading banks.

Payment Gateways End Ties With Juspay

Companies like PhonePe, Cashfree and Razorpay have moved away from third-party connections to establish direct integrations of their platform with merchants. A full connection with a merchant would allow businesses to gain control of their client base, including data and compliance, and expand payment solutions. This move came after companies have increased their investment in payment processing to guarantee that merchants experience as little downtime as possible.

This shift is also due to Juspay receiving the final license from the banking authority, which allows it to compete directly as a payment aggregator with these platforms.

“Merchants pay us for our software because it delivers value to them. We do not rely on PGs for this money...For the past 12 years, we've formed deep connections with prominent merchants, serving as their extended payments teams, delivering technology to ease payments operations, extensive payment domain expertise, and partnering on long-term ecosystem efforts,” Sheetal Lalwani and Vimal Kumar, co-founders of JusPay had said.