Total amount raised
$87.4 Millions
Latest funding date
Location
Title
JUSPAY has successfully raised significant funding over multiple rounds, attracting notable investors such as Wellington Management and VEF. The company specializes in providing robust payment infrastructure solutions designed for scale and simplicity.
Keep reading to explore the intricacies of JUSPAY's fundraising journey and the investors backing this innovative platform.
What Is JUSPAY?
JUSPAY, founded in 2012, is based in Koramangala, Karnataka, India. The company was established by Ramanathan RV and Vimal Kumar.
Specializing in mobile-based payments, JUSPAY offers a SaaS layer on top of payment gateways to simplify integration and enhance transaction success rates. Their products include HyperCheckout, Express Checkout, and UPI solutions.
With a workforce of 1001-5000 employees, JUSPAY continues to innovate in the payment infrastructure space, aiming to improve user experience and operational efficiency.
How Much Funding Has JUSPAY Raised?
- Series C
- Amount Raised: $60M
- Date: Dec 2021
- Lead Investors: SoftBank Vision Fund 2
- Valuation at Round: $460M
- Motivation Behind the Round: Enhance technology infrastructure and scale business in payments and product adjacencies like credit.
- Series B
- Amount Raised: $21.6M
- Date: Mar 2020
- Lead Investors: VEF
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Expand market reach and improve product offerings.
- Venture Round
- Amount Raised: $5.8M
- Date: Feb 2016
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Develop core technology and establish market presence.
JUSPAY has raised a total of $87.4M in funding. The current valuation is $460M.
Key Investors
- SoftBank Vision Fund 2
- Details: SoftBank Vision Fund 2 is a venture capital fund managed by SoftBank Investment Advisers, focusing on technology-driven companies. It is part of the Japanese conglomerate SoftBank Group.
- Investment Focus Areas: Technology, fintech, artificial intelligence, robotics.
- Notable Investments: Uber, WeWork, ByteDance, DoorDash.
- VEF
- Details: VEF, also known as Vostok Emerging Finance, is an investment company that focuses on fintech companies in emerging markets. It aims to support innovative financial technology solutions.
- Investment Focus Areas: Fintech, digital payments, financial services in emerging markets.
- Notable Investments: Creditas, Konfio, TransferGo.
- Wellington Management
- Details: Wellington Management is a private, independent investment management company that provides investment solutions to clients worldwide. It manages a broad range of asset classes.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Airbnb, Robinhood, SpaceX.
- Accel
- Details: Accel is a venture capital firm that invests in early-stage and growth-stage technology companies. It has a global presence with investments in various high-growth sectors.
- Investment Focus Areas: Early-stage technology, growth-stage technology, various sectors.
- Notable Investments: Facebook, Dropbox, Slack, Flipkart.
What's Next for JUSPAY?
JUSPAY stands at the cusp of significant opportunities, driven by the burgeoning digital payments market in India. With ambitions to scale from 10 million to 100 million transactions per day, the company is poised to address payment issues in sectors like transportation and agriculture. The rise of new use cases such as subscriptions and buy-now-pay-later (BNPL) further amplifies its growth potential. The recent $60 million Series C funding led by SoftBank Vision Fund 2 underscores the vast opportunities ahead.
Future fundraising seems inevitable as JUSPAY continues to enhance its technology infrastructure and expand globally. The company's innovative products like HyperSDK and Express Checkout are likely to attract more investors. However, challenges such as intense competition, regulatory hurdles, and the need for continuous innovation loom large. Navigating these obstacles will be crucial for JUSPAY to maintain its growth trajectory and achieve its ambitious goals.
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