Juspay, a Bengaluru-based fintech infrastructure company, is set to become India’s first unicorn of 2025 by raising $150 million in its latest funding round. The round is being led by Kedaara Capital, with participation from WestBridge and SoftBank.
What is a Unicorn?
A unicorn is a privately held startup company valued at $1 billion or more.
Key Highlights
Funding Amount: $150 million
Valuation: ~$1 billion (making it a unicorn)
Founded: 2012 by Vimal Kumar and Sheetal Lalwani
Investors: Kedaara Capital (lead), SoftBank, WestBridge
FY24 Revenue: ₹319.32 crore (up from ₹213.39 crore in FY23)
Loss Reduction: 10% YoY
Total Funding Raised So Far: $237 million (including 2021’s $60 million Series C round led by SoftBank Vision Fund 2)
RBI Authorisation: Received Payment Aggregator (PA) licence in Feb 2024
Industry Context:
- The round comes amid intense competition in the digital payments and payment gateway sector.
- Payment platforms like PhonePe, Razorpay, and Cashfree have ended their partnerships with Juspay’s orchestration platform, intensifying market dynamics.
About Juspay
| Feature | Details |
| Core Business | Leading payment orchestration software provider |
| Key Contribution | Developed BHIM App for NPCI (National Payments Corporation of India) |
| Tech Innovation | Introduced OTP auto-read tech to improve checkout on e-commerce apps |
| Key Clients | Works with major UPI apps and manages orchestration of their payments |