Payment tech platform JusPay has raised $60 million in its Series C funding round led by SoftBank Vision Fund 2. This funding has valued the company at $460. Existing investors VEF and Wellington Management also participated in this funding round.
This is the 2nd investment of SoftBank in an Indian payments firm. Previously, the company also invested in Paytm that recently went public but saw a disappointing debut in the stock market.
“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,” said Vishal Gupta, director, SoftBank Investment Advisers.
The fresh funds will be used to enhance technology infrastructure and scale business in payments and product adjacencies in India and overseas.
Juspay offers end-to-end payments processing to merchants. Key products of the company include Juspay Safe, HyperSDK, Express Checkout, and UPI. The company is also working on offline payments solutions.
It claims to process over 300 million online transactions per month with gross transactions value of over $5 billion. The company also claims to have the highest number of payment SDK installed across 250 million mobile phones.
