Indian PayTech JusPay bags $60m from SoftBank-led Series C

Digital payments platform Juspay has secured $60m from a Series C funding round headed by SoftBank Vision Fund 2.

The funding round was also supported by participation from existing investors Wellington Management and VEF.

Founded in 2012, Juspay develops electronic payment infrastructure backed by two-factor authentication. Merchants who use the technology can implement it to integrate mobile payments for their online stores. Juspay is built on APIs to support easy integration with existing infrastructure.

The company has already worked alongside leading merchants like Amazon and Flipkart in improving their user experience for payment transactions.

According to Juspay, it intends to invest the funds in technology and product development in order to scale its business in payments and product adjacencies like credit, both in India and globally.

Juspay CEO and founder Vimal Kumar said, ?Juspay has been in the forefront, building foundational infrastructure by unifying and enhancing hundreds of diverse payment options in a neutral way. We believe in ecosystem innovations like UPI and OCEN (Open Credit Enablement Network) and have built a deep value-driven culture to support such initiatives. This funding will help us scale up our mission in India and expand globally.”

SoftBank Investment Advisers director Vishal Gupta added, “Juspay is one of the most innovative deep tech companies in India’s fast-growing digital payments market. It is solving the complex needs of an evolving FinTech ecosystem. We believe in Juspay’s vision to simplify payments for billions of people globally and deliver higher revenue at a lower cost for merchants.”

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