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Updated on: Wednesday, December 15, 2021, 06:18 PM IST

Fintech firm Juspay raises $60 mn from SoftBank, others

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. / Representative Image |

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. / Representative Image |

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Fintech firm Juspay Technologies on Wednesday said it has raised $60 million (about Rs 457 crore) in funding led by SoftBank Vision Fund 2.

The Series C funding round also saw participation from existing investors, VEF and Wellington Management, a statement said.

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, it added.

Founded in 2012, Juspay has helped improve user experience for billions of payment transactions for merchants like Amazon, Flipkart and Swiggy. Juspay's platform processes 11 million transactions per day.

“​Juspay has been at 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,'' Juspay founder and CEO Vimal Kumar said.

The funding will help the company scale up its mission in India and expand globally, he 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,'' Vishal Gupta, Director at SoftBank Investment Advisers, said.

(With inputs from PTI)

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Published on: Wednesday, December 15, 2021, 04:19 PM IST
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