Indian payments orchestration platform Juspay has raised $60m in its Series D funding round, through primary and secondary investments.
The round was led by Kedaara Capital, with existing investors Softbank and Accel also participating.
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Avendus Capital was the exclusive financial advisor to Juspay for the fundraise.
Juspay aims to further develop its artificial intelligence capabilities to enhance workforce productivity and the merchant experience.
The company has been strengthening its presence worldwide and now operates across the Asia-Pacific, Latin America, Europe, the UK, and North America.
Juspay’s open-source payments orchestration platform is at the core of its growth strategy, designed to provide merchants with a modular and interoperable solution that enhances control over their payments stack.
Since its inception in 2012, the company has become the technology service provider of choice for merchants and banks worldwide.
Juspay offers a suite of services including full-stack orchestration, checkout experience, 3DS authentication, tokenisation, unified analytics, and value-added services for enterprise merchants.
It also provides payments acceptance and real-time payments infrastructure for banks.
The company currently processing over 200m transactions daily and managing an annual total processed volume of over $900bn, the release sated.
Juspay co-founder & COO Sheetal Lalwani said: “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.
“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. We welcome Kedaara Capital, we could significantly benefit from their rich experience as we build towards the next phase of our growth”, he added.
However, payment providers Paytm, PhonePe, Razorpay, and Cashfree scrapped their alliance with Juspay over the past few months.
Meanwhile, last month, Juspay launched the open-source modular payments platform, Hyperswitch, in the US, Europe and the UK.
