Juspay
“Can a payment orchestrator from India become the global Payments OS for enterprise merchants?”
Founded2012
HQBengaluru, India
Total raised~$110M+
Latest roundSeries D extension, Jan 2026
Valuation$1.2B (2025)
IndustryInfrastructure / Payments
The story
Founded 2012 as a mobile-first payments SDK in India, Juspay evolved into a full payment orchestration platform processing 125M+ daily transactions for enterprises like Amazon Pay, IndiGo, Swiggy and BigBasket. Over the last few years it has expanded internationally — opening offices in San Mateo, Dublin, Dubai, São Paulo, and Singapore — and now positions itself as a global 'Payments Operating System' with 300+ PSP integrations, orchestration, tokenization, reconciliation, payouts and a credit marketplace (Hypercredit).
Last 12 months
Product timeline
2012
Founded in Bengaluru as payments technology company· founding
2019
Became a key payments orchestrator for Indian merchants (Amazon, Flipkart, Swiggy)· product
2022
Open-sourced Hyperswitch payment orchestrator· product
2025
$60M Series D led by Kedaara Capital at $1.2B valuation· funding
2026
$50M Series D extension from WestBridge Capital· funding
Regulated entities
1
regulatory licence held by Juspay
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
3 layers disclosed in Juspay’s embedded-finance stack
Payments / PSP
Juspay (self-operated orchestrator)Razorpay (downstream connector)PayU (downstream connector)Paytm (downstream connector)Easebuzz (downstream connector)Cashfree (downstream connector)CCAvenue (downstream connector)Worldline/Ingenico TPSL (downstream connector)Stripe (downstream connector via Hyperswitch)Simpl (downstream connector)
Lending
in the full report
FX & payouts
in the full report
Accounting gap: significant
4 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.