Juspay raises $50 million from WestBridge, enters unicorn club

Bengaluru-based payments infrastructure firm Juspay has raised $50 million in a Series D follow-on round from WestBridge Capital.

The latest round values Juspay at $1.2 billion, the company said in a statement on Friday. The funding is an extension of its $60 million Series D round launched in April 2025.

According to a person in direct knowledge of the matter, the last round valued the company at around $900 million, effectively making this its entry into the unicorn club. A unicorn is a startup valued over $1 billion.

The transaction comprises a mix of primary and secondary investments. Juspay said the secondary component will provide liquidity to early investors and employees holding employee stock ownership plans, marking the second such liquidity event enabled by the company within a year.

Avendus Capital acted as the financial adviser to Juspay on this transaction.

The total funding amount in the company has reached close to $200 million to date.

The latest funding comes after a period of uncertainty for the company, following several large payment platforms such as PhonePe, Razorpay and Cashfree discouraging merchants from using third-party payment orchestration tools like Juspay. The moves came after Juspay secured its own payment aggregator licence, bringing it into closer competition with these players.

Juspay reported revenue of ₹540 crore in FY25, up 55% year-on-year. It posted a net profit of ₹62.3 crore during the year, after reporting losses in the previous four financial years.

Founded in 2012, the company has raised about $106 million in equity funding from investors including SoftBank Vision Fund, Accel, VEF, Kedaara Capital and Wellington, according to funding tracker data.

In the statement, Juspay said its annualised total payment volume now exceeds $1 trillion, with the platform processing more than 300 million transactions daily. Its customers include Agoda, Amazon, Flipkart, Google, HSBC, IndiGo, Swiggy, Zepto and Zurich Insurance.

The company added that it has been expanding its presence across Asia-Pacific, the Middle East, Latin America, Europe, the UK and North America, positioning itself as a global payments platform for enterprises and banks.

“Our focus over the last decade has been on solving the core complexities of global payments through first-principles engineering and design,” said Sheetal Lalwani, co-founder and chief operating officer of Juspay.

The company said it remains focused on building open-source, interoperable and modular payments infrastructure for global commerce, and is advancing its artificial intelligence capabilities to improve workforce productivity and merchant experience.

“Juspay has consistently demonstrated an ability to stay ahead of the curve by building robust, future-ready technology that powers the world’s most demanding payment ecosystems,” said Deepak Ramineedi, partner at WestBridge Capital. “Our conviction in them stems from their evolution from a payment orchestration platform to a full-stack UPI platform, and now to a core payments infrastructure provider for banks.”

The story was updated to say the funding was an extension of Juspay's $60 million Series D round. The earlier version said it was $18 million.