Juspay, a Bengaluru, India-based mobile payments startup, raised Rs 40 crore in Series A funding.
The round, which valued the company at over Rs 200 crore, was led by Accel Partners with participation from Parikshit Dar, Ashish Hemrajani and Rajesh Balpande (the founders of of online ticket booking app Bookmyshow).
The company intends to use the funds for continued product development. To this end, they are hiring.
Co-founded in 2012 by Ramanathan RV and Vimal Kumar, and also led by Sheetal Lalwani, Juspay is developing two products:
– Juspay Safe, a mobile payments browser focused on improving security of mobile transactions, and
– Express Checkout, a SaaS gateway booster to simplify integration of diverse payment options in the country.