Juspay company profile: valuation, funding & revenue

This Juspay company profile covers the company's valuation, revenue, funding rounds, investors and history. Juspay works in fintech, with a focus on payments infrastructure and orchestration. It was founded in 2012 and is headquartered in Bengaluru, Karnataka, India. Its latest valuation on record is About US$1.2 billion (January 2026). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.

Revenue

₹540 crore operating revenue; profit of ₹62.28 crore — FY2025 results (as reported), as of FY2025. Source: BW Disrupt.

Funding history

Juspay timeline

Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.

• 2012 — Juspay is founded in Bengaluru by Vimal Kumar (CEO) and Sheetal Lalwani.
• Apr 2025 — Series D: About US$60M, valuing the company at About US$900M–950M. Investors: Kedaara Capital (lead).
• Jan 2026 — Primary and secondary round: US$50M, valuing the company at About US$1.2B. Investors: WestBridge Capital (lead).
• January 2026 — Payment volume: Annualised total payment volume above US$1 trillion, according to the company.

Investors

Overview

Juspay builds payment infrastructure that sits behind many of India's best-known apps and websites. When a customer pays on an e-commerce site, a food delivery app or an airline booking page, Juspay's software often handles the checkout, routes the payment to the best-performing payment gateway, and manages methods such as UPI, cards, wallets and net banking. It also builds core UPI infrastructure for banks and has expanded internationally with open-source and enterprise products.

Vimal Kumar, the CEO, and Sheetal Lalwani founded Juspay in Bengaluru in 2012. Kumar had worked at Amazon, and the pair set out to make online payments in India faster and more reliable, at a time when many transactions failed at the bank's authentication step. Juspay became India's first unicorn of 2026, and unusually for a high-growth fintech, it is profitable.

Products

• Payment orchestration: a single checkout layer that connects merchants to many payment gateways and methods, routing each transaction to the option most likely to succeed and cost least.
• UPI infrastructure for banks: technology that powers UPI services for several large Indian banks, part of the system that processes billions of transactions a month.
• Hyperswitch: an open-source payments switch for businesses worldwide, letting them connect to multiple processors without being locked into one.
• Authentication and tokenisation: tools for card security and compliance with Reserve Bank of India rules.

Customers

Juspay's merchant customers have included Amazon, Flipkart, Swiggy, Zomato, Uber, Google, Microsoft and major Indian airlines and banks. Its bank customers include large lenders that rely on it for UPI and card infrastructure. Because it processes payments for so many large platforms, Juspay says its annualised total payment volume has passed US$1 trillion.

Business model and financials

Juspay charges merchants and banks fees for its software, typically per transaction or through platform licences, rather than holding funds like a payment gateway. That keeps it asset-light and less exposed to credit and regulatory risks. For the year to March 2025, it reported operating revenue of about ₹540 crore and a profit of about ₹62 crore, according to filings reported by Indian media. Revenue grew strongly, and profitability gives it flexibility that many fintech peers lack.

Funding

Juspay's investors include SoftBank Vision Fund 2, Accel, Wells Fargo, Kedaara Capital and WestBridge Capital. In April 2025 it raised about US$60 million in a Series D led by Kedaara Capital at a valuation reported at around US$900 million to US$950 million. In January 2026, WestBridge Capital led a US$50 million round, mixing new and existing shares, at a valuation of about US$1.2 billion, making Juspay a unicorn.

Competition

In payment orchestration, Juspay competes with payment gateways' own checkout products from companies such as Razorpay, PayU and Cashfree, and internationally with orchestration providers such as Spreedly and Primer. In bank UPI infrastructure, it competes with established banking technology vendors. Its advantages are deep integration with India's payment systems, a strong engineering reputation and a client list that includes many of India's biggest apps.

Juspay at a glance

Juspay is a Bengaluru payments infrastructure company founded in 2012 by Vimal Kumar and Sheetal Lalwani. It reported FY25 operating revenue of about ₹540 crore and profit of about ₹62 crore, and says its annualised payment volume exceeds US$1 trillion. It became a unicorn in January 2026 when WestBridge Capital led a US$50 million round at about US$1.2 billion.

Why payment orchestration matters

Large merchants often work with several payment gateways, because no single provider performs best for every bank, card type or payment method at every moment. A failed payment usually means a lost sale. Orchestration software monitors success rates in real time and routes each transaction to the best option, retries failed ones intelligently, and gives merchants one integration instead of many. In India, where UPI, cards, wallets and net banking all coexist and bank servers vary in reliability, those gains can be significant. Even a one-percentage-point improvement in success rate can mean millions in additional sales for a large merchant.

Open source as a global strategy

Juspay's Hyperswitch is released as open source, which lets businesses anywhere inspect, modify and self-host it. That approach helps a company from India build credibility with international developers and merchants, who can adopt the software without a large upfront commitment, then pay for enterprise support and hosted versions. It's similar to how other infrastructure companies, such as Supabase, use open source to grow globally.

Questions for merchants

• How many payment providers do you use, and how do their success rates compare?
• Would intelligent routing improve conversion enough to justify the cost?
• Does the platform support all the payment methods your customers prefer?

Building India's payment rails

India's digital payments revolution rests on public infrastructure: Aadhaar for identity, UPI for instant bank transfers, and a growing set of open networks for commerce and credit. Private companies like Juspay build the software that connects banks, apps and merchants to these rails. Juspay has worked on several of the building blocks, including UPI services for banks and tools for card tokenisation after the Reserve Bank of India banned merchants from storing card numbers. That close involvement with the system's design gives it expertise that is hard for newcomers to match, and positions it well as India exports its payment model to other countries.

Several countries, from Southeast Asia to Africa and Latin America, have studied or adopted elements of India's approach to real-time payments. Companies that understand how to build and run such systems at scale, as Juspay does, could find opportunities well beyond India, both with banks and with governments building their own instant payment networks.

Latest developments (October 2026)

Juspay raised US$50 million in a Series D follow-on led by WestBridge Capital in January 2026 at about US$1.2 billion, becoming India's first new unicorn of 2026, according to Inc42. The round combined new money for international expansion with share sales for early investors and employees. Juspay says its payments infrastructure handles more than US$1 trillion in annualised payment volume.

What to watch

Watch international growth of Hyperswitch, new bank partnerships, FY26 results, regulatory changes in India's payment system and any IPO plans.

Takeaways

Large merchants can reduce failed payments with orchestration. Fintech founders can see the value of building infrastructure rather than holding money. Investors should note that Juspay reached unicorn status while profitable, a rare combination.

Sources

Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.

1. BW Disrupt
2. Entrackr