- JusPay, a Bengaluru, India-based payments gateway company, announced it has raised $21.6 million in a Series B round of funding
JusPay, a Bengaluru, India-based payments gateway company, announced it has raised $21.6 million in a Series B round of funding led by Sweden-based Vostok Emerging Finance (VEF) with an investment of $13 million according to Inc42. Boston-based Wellington Management also joined the round along with existing investor Accel Partners.
Boston-based Wellington Management also joined the round along with existing investor Accel Partners. With this round of funding, a representative of VEF is joining the JusPay board of directors.
With this round of funding, JusPay is planning to invest in R&D and expand its market presence in India and expand to the overseas market. JusPay founder and CEO Vimal Kumar pointed out that there is massive growth potential in digital transactions in the upcoming years.
Before this round of funding, the company raised $5.8 million in Series A funding back in 2016. In that round, Accel Partners and BookMyShow founders Ashish Hemrajani, Parikshit Dar, and Rajesh Balpande had invested in the round.
Kumar and Ramanathan RV founded JusPay in 2012. And now the company offers a full-stack digital payments platform. And it has an SDK that has been downloaded over 200 million times and led to an annual payment volume of $10 billion. Some of the company’s customers include Amazon, Uber, Flipkart, Ola, and Cred.
