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Juspay Looks To Raise $150 Mn To Become a Unicorn

Fintech startup Juspay is looking to raise $150 million (about Rs 1295 crore) in a funding round led by Kedaara Capital.

By Jitendra Das
New Update
Juspay Looks To Raise $150 Mn To Become a Unicorn

Fintech startup Juspay is looking to raise $150 million (about Rs 1295 crore) in a funding round led by Kedaara Capital.

The funding round will also see participation from WestBridge and SoftBank, according to a media report.

Juspay will raise new capital at a valuation of $1 billion, making it a unicorn. The startup, which has key investors like SoftBank, Accel and VEF, has raised over $87.42 million so far.

Read also- VoltUp Raises $8Mn In Seed Round Led By EM Impact Capital

Founded in 2012 by Vimal Kumar and Ramanathan RV, Juspay is a software-as-a-service (SaaS) platform that provides digital payment gateway services. The startup says it helps businesses by preventing fraud and reducing operational costs.

Juspay showed strong growth in its financial performance, with operating revenue rising by nearly 50% in the fiscal year ending March 2024.

In February 2024, Juspay got approval from the Reserve Bank of India to operate as a payment aggregator.

On the financial front, Juspay reduced its loss by 7.7%, bringing it down to INR 97.54 crore in the fiscal year ending March 2024, compared to INR 105.75 crore in the previous year. At the same time, its operating revenue grew by 49.6%, rising to INR 319.32 crore from INR 213.39 crore in FY23.

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