Juspay eyes $150 mn, poised to become 2025’s first unicorn

Fintech firm Juspay is looking to raise $150 million (about Rs1,300 crore) at a valuation of $1 billion in a round led by Kedaara Capital, Moneycontrol reported, citing people familiar with the developments.

The round, which includes participation from WestBridge and SoftBank, could position the payment technology service provider as this year’s first unicorn—a startup valued at over $1 billion.

Juspay declined to comment on the details.

“At this moment, we do not have any comments to provide on the matter,” a spokesperson for Juspay said.

The fundraising comes when payment gateways such as Cashfree, PhonePe, and Razorpay have discontinued their third-party partnerships with payment orchestration platforms such as Juspay.

Founded in 2012 by Vimal Kumar and Ramanathan R.V., Juspay is a full-stack software-as-a-service (SaaS) platform that offers digital payment gateway services.

It counts SoftBank, Accel, and Stockholm, Sweden-based Vostok Emerging Finance among key investors, and has so far raised about $87.42 million.

Last year, Juspay received the Reserve Bank of India’s approval to operate as a payment aggregator.

Besides India, the startup has offices in Ireland, Singapore, Brazil, Indonesia, the United Arab Emirates, and the US.