Bengaluru-based fintech platform Jupiter Money has raised ₹115 crore (approx. US$13 million) in a fresh funding round from existing investors Mirae Asset Venture Investments, BeeNext, and 3one4 Capital.
Founder and CEO Jitendra Gupta also contributed to the round personally.
Jupiter operates a non-banking financial company (NBFC) platform, supported by direct investments from Peak XV, Z47, Tiger Global, BeeNext, and QED, to facilitate its lending operations.
The company plans to expand this vertical into a broader lending suite, including personal loans, SME loans, and secured lending products.
Through a single app, Jupiter offers credit cards, savings accounts, investments, loans, insurance, prepaid instruments, and other financial products.
The platform is regulated by the Reserve Bank of India (RBI), the Securities and Exchange Board of India (SEBI), and the Insurance Regulatory and Development Authority of India (IRDAI).
Jupiter has acquired over three million customers, with around 60% actively engaging with multiple products on the platform.
More than a quarter of active users use two or more products. Its Account Aggregator (AA) service has over one million active users.
“We are building the go-to money app for India’s millennials, transparent, inclusive, and truly helpful in everyday life. This round gives us the boost to scale responsibly while keeping our promise of making money simpler for millions of Indians,”
said Jitendra Gupta, Founder & CEO, Jupiter Money.
On its co-branded card with CSB Bank, customers make an average of 24 transactions per month, with over 150,000 cards issued to date.
Financially, Jupiter reported revenue growth of more than 2.2 times in the last fiscal year.
The company aims to reach operational breakeven within the next 24 months while continuing to expand its user base and double it over the next two to two-and-a-half years.
Featured image credit: Edited by Fintech News Singapore, based on image by patcharananworrapatchareeroj via Freepik
