BENGALURU, India– Juspay Technologies, the pioneers of 1-click frictionless digital payments in India, today announced USD 60 million in Series C funding led by SoftBank Vision Fund 2 with participation from existing investors VEF and Wellington Management.
Founded in 2012, Juspay is on a mission to build a robust payments operating system for India. It has played a pivotal role in improving the user experience for billions of payment transactions for leading merchants like Amazon, Flipkart and Swiggy. Juspay intends to invest the funds in technology and product development to scale its business in payments and product adjacencies like credit – both in India and globally.
Juspay’s notable inventions include Juspay Safe – world’s first payment browser that simplifies payment authentication, HyperSDK – the largest payments SDK distribution installed across 250 million mobile phones, Express Checkout – India’s leading payments orchestration platform to boost transaction success rates and UPI in a Box – a highly reliable UPI stack for merchants and a first of its kind.
On this occasion, Vimal Kumar, the founder & CEO of Juspay 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.”
Speaking about the funding, Vishal Gupta, Director, SoftBank Investment Advisers, said: “Juspay is one of the most innovative deep tech companies in India’s fast-growingdigital 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.”
About JUSPAY: Founded in 2012, Juspay offers an intelligent technology platform that unifies payment gateways to give merchants a seamless, secure, reliable, end-to-end, enterprise-grade payment stack to achieve higher revenue at lower cost. It is also a strong contributor to development of the financial ecosystem in India. Key contributions include the BHIM App, GeM SAHAY (offers credit facility for Government eMarketplace) and BECKN protocol (community initiative to create open digital commerce networks).