The company had posted a net loss of Rs 97 crore in FY24.
Juspay said it currently processes $1 trillion in annualised total payment value (TPV) and handles nearly 300 million transactions daily.
In a statement on Wednesday, cofounder Sheetal Lalwani said the company’s adjusted Ebitda stood at a positive Rs 115 crore. Growth was driven by the onboarding of large merchants over the last few years, alongside continued expansion in UPI volumes.
Juspay today powers around 20 third-party UPI payment applications, including Google Pay and Super.money.
“We are opening up to working more deeply with global merchants who have large cross-border payment needs. We are also deploying our payment infrastructure at banks to power their processing capabilities,” Lalwani told ET
The company is working with global banking major HSBC to power merchant payment services in India and some other geographies.
Juspay serves as middleware at checkout pages of large ecommerce, fintech, food-delivery and ride-hailing platforms. It routes transactions to payment aggregators that can ensure minimal failure rates. The firm earns a small commission per transaction.
Founded in 2012 by engineering graduates Sheetal Lalwani and Vimal Kumar, along with Ramanathan RV who exited in 2019, Juspay works with over 500 large global enterprises. It has a presence across India, North America, Africa, the Gulf region and Southeast Asia, and has also set up a Brazil team to explore interoperability between India’s UPI and Brazil’s Pix network.
In April 2025, Juspay raised $60 million in a round led by Kedaara Capital, with participation from SoftBank and Accel. The round valued the company at $900 million. Since inception, Juspay has raised around $100 million in equity capital.
“Now that we are profitable, we will invest heavily in expanding into large global markets. Our ultimate aim is to build a global payments company from India with $1 billion in revenue,” Lalwani said.
Addressing recent friction with large payment aggregators, including PhonePe, Razorpay and Cashfree, Lalwani said the episode did not hurt business and instead strengthened relationships with merchants.
“We won many large deals after this episode. Large merchants saw what we do, helping us diversify faster. More payment aggregators have also begun working with us,” he added.
Juspay received its payment aggregator licence from the Reserve Bank of India in February 2024. In December 2024, PhonePe publicly told its merchant clients to stop using Juspay, pushing its own orchestration platform. Razorpay and Cashfree followed in January 2025. However, Pine Labs and CCAvenue took a contrarian stance, supporting Juspay in the spirit of interoperability.
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