Fintech startup Juspay has raised US$60 million in a series D funding round led by Kedaara Capital.

Existing investors SoftBank and Accel also participated in this funding round.

The investment consisted of both primary and secondary funding. Juspay plans to use the capital to enhance its AI capabilities and improve workforce productivity and merchant services.

Founded in 2012 by Vimal Kumar and Ramanathan RV, Juspay is a software-as-a-service (SaaS) platform that specializes in digital payment gateway services. The company offers solutions for fraud prevention and operational cost optimization.

Co-founder and COO Sheetal Lalwani emphasized Juspay’s commitment to developing open-source and interoperable payment systems. This commitment is crucial as the company expands globally and integrates AI into its services.