Indian payments technology platform Juspay Technologies has secured $60 million in a Series C round of funding led by SoftBank Vision Fund 2, it said in a statement on Wednesday.
Existing investors VEF and Wellington Management also joined the round.
The latest round reportedly values the payments technology platform at $460 million.
SoftBank Investment Advisers director Vishal Gupta said: “We believe in Juspay’s vision to simplify payments for billions of people globally and deliver higher revenue at a lower cost for merchants.”
Juspay founder and CEO Vimal Kumar said the funding will be used to scale up in India and expand globally.
Juspay will also look at investing in technology and product development and expanding to the credit business. Avendus Capital advised Juspay in the latest funding round.
Founded in 2012, Juspay claims to process nearly 11 million transactions per day, one of the highest in India, per the company statement.
In April last year, Juspay had raised $21.6 million in a Series B round led by Swedish investor Vostok Emerging Finance. VEF alone had invested $13 million for a minority stake in the company. The round also saw the participation of Wellington Management alongside existing investor Accel.
The company had raised Rs 40 crore (around $5.8 million) in its Series A round from Accel Partners back in 2016.