Bengaluru, India — Payment technology firm Juspay has raised $60 million in its Series D funding round, led by Kedaara Capital, with participation from existing backers SoftBank and Accel. The round includes both primary and secondary investments, marking the company’s first major fundraise in over three years.

Juspay last raised $60 million in December 2021 in a Series C round led by SoftBank Vision Fund 2, which pegged the company’s valuation at $460 million. While speculation hints at a possible unicorn valuation in this latest round, Juspay has not confirmed any figures.

According to a company statement, the new funds will be directed toward enhancing AI capabilities, aiming to boost workforce productivity and improve the merchant experience.

The funding comes amid a challenging phase for the company, as prominent payments platforms like Paytm, PhonePe, Cashfree, and Razorpay have reportedly ended partnerships with Juspay as a third-party orchestration provider.

Founded in 2012, Juspay offers a comprehensive suite of payment solutions, including checkout orchestration, 3DS authentication, tokenisation, unified analytics, and real-time payments infrastructure. The company claims to process over 200 million transactions daily with 99.999% reliability, translating to an annual processed volume of $900 billion.

Juspay has also expanded its footprint beyond India, serving clients across Asia-Pacific, Latin America, Europe, the UK, and North America.

Financially, the company reported a 49.6% rise in revenue to Rs 319.32 crore in FY24, up from Rs 213.39 crore in FY23, while narrowing losses by 7.8% to Rs 97.54 crore over the same period.