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JusPay raises USD 60 mln in Series C funding round

Wednesday 15 December 2021 12:19 CET | News

JusPay, which operates a payments technology platform, has raised USD 60 million in its Series C funding round led by SoftBank Vision Fund 2.

The fundraise values the company at USD 460 million.

Existing investors VEF, an emerging market fintech investor, and Wellington Management also participated in the funding round.

JusPay will be using the funds to improve its technology infrastructure to better the company’s platform and to scale its business in payments and product advances like credit, both in India and overseas.

The company currently processes 10 million transactions a day, with gross value of over USD 5 billion a month, and it is looking towards getting at 100 million transactions per day.

JusPay, which generates revenue per transaction, gets most of it from top tier I and tier II cities. Ecommerce contributes about 30-35% its revenues, followed by BFSI (Banking and Financial Services) which includes insurance and other financial services. Consumer services such as hyperlocal delivery, foodtech and the entertainment services also contribute significantly to JusPay’s.


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Keywords: funding, banks, digital payments, transactions
Categories: Payments & Commerce
Companies:
Countries: India
This article is part of category

Payments & Commerce