Juspay Concludes Series D Funding Round With $60 Million Raised
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Juspay, a well-known payment orchestration platform, recently concluded its Series D funding round, managing to secure $60 million.
The round was led by Kedaara Capital, but it also saw several other high-profile participants, including Accel and Softbank, both of which were existing investors.
Juspay itself was founded in 2012, offering its flagship product — the Hyperswitch platforms. The platforms provide a full-stack open-source checkout experience. It combines a number of emerging technologies, including tokenization, 3DS authentication, and analytics.
It was designed for enterprise merchants, and it also features end-to-end payments acceptance, and real-time payment infrastructure aimed at banks.
Juspay Plans To Use The Money For Further Growth
The company is based in India, and it operates from Bengaluru. However, it has offices in several locations around the world — all major financial hotspots. That includes Singapore, San Francisco, Sao Paulo, and Dublin.
In total, it processes over 200 million transactions per day, and its annual total processed volume is estimated to be at around $900 billion.
With the funding round now complete, the company intends to use the raised money to speed up its global growth and expansion. On top of that, it also plans to embed artificial intelligence (AI) into its product suite, joining a long list of financial institutions that believe that AI could significantly improve its processes by removing human error, increasing speed, and improving the overall user experience.
The company’s co-founder and acting COO, Sheetal Lalwani, commented on the move, stating that, as Juspay expands its global footprint and pushes the boundaries of AI, it also remains committed to building a truly open-source and interoperable payment system.
The company’s goal is to embrace the growing diversity in the payments landscape, which is now evolving at a staggering speed. This is why the firm welcomed Kedaara Capital, acknowledging that it can benefit greatly from the company’s rich experience, as it builds toward the next phase of its own growth.
