Bengaluru-based payments infrastructure company Juspay has raised $50 million in a Series D follow-on round from WestBridge Capital, the company announced on Thursday. The round, a mix of primary and secondary transactions, values the company at $1.2 billion.
Juspay had first entered the unicorn club in May 2025 when it raised $17.9 million in a Series D round led by Kedaara Capital at a $1.2 billion valuation. The current follow-on round maintains that valuation.
The latest investment marks private equity firm WestBridge’s entry into Juspay’s cap table and provides liquidity to early investors and employees holding ESOPs. This is the second such liquidity event the company has facilitated within a year, the company said.
“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 COO of Juspay. “This round reflects our growth and provides liquidity opportunities for our early investors and team members who have been part of this journey.”
Founded in 2012 by Vimal Kumar and Sheetal Lalwani, Juspay has now raised approximately $156 million in total equity funding. The company had previously raised $60 million in Series C funding from SoftBank Vision Fund in December 2021 at a $478 million valuation.
From Losses to Liquidity
The fundraise comes as Juspay turned profitable for the first time in FY25, posting a net profit of Rs 62.3 crore on revenue of Rs 539.5 crore, according to regulatory filings accessed via Tracxn. This compares to a net loss of Rs 97.5 crore on revenue of Rs 347.6 crore in FY24.
The strong financial performance came despite the company facing pressure in its core payments orchestration business during the fiscal. Major payment gateways such as PhonePe, Razorpay, and Cashfree had severed ties with third-party orchestration platforms like Juspay, opting instead to work directly with online merchants.
Orchestration Under Siege
The company currently claims an annualised total payment volume (TPV) exceeding $1 trillion, processing over 300 million daily transactions for clients including Amazon, Flipkart, Google, HSBC, Swiggy, Zepto, and Zurich Insurance.
Juspay operates across Asia-Pacific, West Asia, Latin America, Europe, UK, and North America, with offices in San Francisco, Dublin, São Paulo, Singapore, and Dubai, in addition to its Bengaluru headquarters. The company employs over 1,500 people globally, as per the release.
WestBridge Capital, which manages approximately $7 billion in assets, has previously backed startups like Rapido, Meesho, and PhysicsWallah.