Neobank Jupiter raises $86M in Series C Funding

According to papers with the Registrar of Companies, Mumbai-based fintech Jupiter has raised $86.6 million in a Series C round of funding headed by New York-based hedge fund Tiger Global, Sequoia Capital, and Virgina-based QED Investors (RoC).

Jupiter is a customer-facing neobank founded in 2019 by serial entrepreneur and CitrusPay creator Jitendra Gupta. It offers convenience of depositing money and payment transactions, as well as spending data, goal-based savings, and a company-branded digital debit card.

On the Google Play Store, the company has over 500,000 downloads after being in beta until June 2021. In October, the company invited new users to join the app, and it has partnered with Federal Bank and Axis Bank to provide its services.