Jupiter success story | Money | About | Banking

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Money transactions are now part of our daily life! Nowadays, Rs 100 to Rs 200 are even transferred online. In today’s world, nobody has to carry cash with them when they are outside. Life has now become very easy because nobody really has to be afraid of theft and other impending financial risks. This is all due to the advent of digital banking. This digital banking, which arose under the umbrella of physical banks or financial institutions, is now rapidly growing into a new entity where all retail banking services are offered to customers independently.

Jupiter is one of the promising digital banking startups based on the neo banking concept. Headquartered in Mumbai, Maharashtra, Jupiter promises a wide range of banking and account related services, unique savings pots, real-time spending breakdowns and insights, real-time monitoring of your net worth, and more, all of which could bring you excellent rewards too. Hence, with Jupiter, you can rule your own money without any problem. There is no hidden fee scene on Jupiter. This banking company also offers instant rewards to its users like no other.

addicted? read this Jupiter success story down with along with knowing about the Industry, Founder and team, Startup story, Business model, Revenue model, Financing and Investors, Competitors, and more!

Jupiter – company highlights

Start name Jupiter
headquarters Mumbai, Maharashtra, India
sector Banking, FinTech, Consulting and Wealth Management
founder Jitendra gupta
Founded 2019
valuation $ 300 million
Operating income $ 242.23 (Rs 18,000 in FY21)
Total funding $ 71 million (November 2021)
website jupiter.money

Jupiter – About
Jupiter – Industry
Jupiter – Founder & Team
Jupiter – startup story
Jupiter – Mission and Vision
Jupiter – business model
Jupiter – Financing & Investors
Jupiter – Acquisitions
Jupiter – growth
Jupiter – Competitors
Jupiter – future plans

Jupiter – About

Jupiter is a neobank, a digital banking company that offers end users numerous digital retail banking options and thus enables them to open and operate their bank accounts from the comfort of their own home. Jupiter, headquartered in Mumbai, Maharashtra, also offers its clients unique ways to monitor their wealth, provide real-time expense breakdowns with insights, and help them with handy savings pots so clients can save on their purchases. In addition, all of these can be managed in real time. The company refrains from deducting sneaky fees like many banks do. In addition, Jupiter bank accounts do not have to be kept with a minimum balance. In addition, the amount you have in your Jupiter account can easily be withdrawn at any of the nearest ATMs in your area. Jupiter is also one of the fastest payment apps based on UPI.

Jupiter – Industry

The Indian banking sector is booming. According to RBI, India’s banking sector is adequately capitalized and well regulated. In addition, the credit, market and liquidity risk studies have shown that the banking sector in India is resilient and can withstand global downturns as well.

The total assets of the public banks were estimated at Rs. 107.83 lakh crore ($ 1.52 trillion) in FY20. Bank loans grew between the FY16-FY20 at a CAGR of 3.57%. Total credit on offer increased to $ 1,698.97 billion in FY20. If we now look at the deposits, they also grew at a CAGR of 13.93% and reached $ 1.93 trillion by FY20.

The finance and banking area was further supported by the “Pradhan Mantri Jan Dhan Yojana” launched by Prime Minister Narendra Modi in 2014 … However, the banking sector is almost digitalized by 2021, where most people prefer to do their transactions online than perform offline. Also, with the rise of various FinTech companies, using efficient digital banking services is now faster and easier than ever.

In addition, neobanking is currently arguably the fastest growing sub-segment in the fintech sector. the The global neo banking market is expected to grow to around 394.6 billion US dollars by 2026, according to Zion Market Research. However, the concept of neobanks is still in its infancy in India.

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Jupiter – Founder & Team

Jitendra gupta

Jitendra Gupta is the founder and CEO of Jupiter. He was Managing Director of PayU for more than two years before founding Jupiter. Jitendra Gupta also previously founded a company called Citrus Payment Solutions Pvt Ltd. He was also Chief Manager and Regional Sales Manager of ICICI Bank, where he worked for a total of seven years. Jitendra Gupta began his career as an Article Trainee at Lodha & Co. and then for a short time as a Staff Accountant at RSM & Co. Jitendra Gupta completed his BCOM degree at Sydenham College of Commerce & Economics and subsequently earned a degree as a Chartered Accountant.

Jitendra Gupta, founder, Jupiter

Jupiter – startup story

Jitendra Gupta had then served Naspers for 3 years when he started his second phase of entrepreneurship in August 2019 planning to start “something big and powerful” which he missed even after over 10 years in the startup ecosystem .. Gupta finally decided to use his financial and banking experience in the form of a disruptive idea to revolutionize the traditional banking system. His aim was to offer all Indians a mobile-first experience. His plan to build an inexpensive and bright digital banking place for the Indians was eventually realized in the form of Jupiter, with the help of which the younger generations could manage their money well.

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Jupiter – Mission and Vision

Jupiter was founded with the vision of disrupting the Indian banking system and thereby becoming a company that transcends the mere transactional relationship with customers.

Jupiter founder Jitendra Gupta said:

“We wanted to offer a personalized banking experience with the mindset of an internet company. Our customer service does not differ according to a customer’s account balance and we give them an instant solution to their needs ”.

The neo banking company is called Jupiter because it dreams of becoming the largest financial services company in India.

“We named our product Jupiter, this is the largest planet, because we aspire to be the largest financial services company in India,” said Jupiter founder Jitendra.

Jupiter – business model

Jupiter serves as a digital banking company, which offers a wide range of exciting facilities to help and satisfy the growing needs of young and old in India.

Jitendra Gupta said in one of his interviews:

‘Banking is going through massive changes. In such difficult times, it has become clear to many that digital banking will be the only avenue for consumers to genuinely look forward to something useful that is friendly and consumer-centric at the same time. ‘

This company’s business model is loosely based on the British digital mobile only bank Monzo and the Brazilian Nubank.

Jupiter currently offers four products to help them save money, effectively monitor their savings, and earn rewards, according to expert insights. The company’s largest banking partner is the Federal Bank, followed by NPCI and VISA.

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Jupiter – Financing & Investors

Jupiter has a total of $ 71 million in the three rounds of funding it has seen so far.

date Transaction name Collected money Lead investors
August 5, 2021 Series B $ 45 million Matrix Partners India, Global Founders Capital, Sequoia Capital India, Nubank
April 8, 2020 Dare round Hummingbird ventures
4th November 2019 Seed round $ 24 million

Some of Jupiter’s leading investors are Global Founders Capital, Sequoia Capital, Matrix Partners, and more.

Jupiter – Acquisitions

So far, Jupiter has acquired 1 company called EasyPlan, an AI-supported financial savings app.

Jupiter – growth

Jupiter’s beta app currently serves over 100,000 users who have signed up for the waiting list and will eventually also be made available to the public. Jupiter has that Bullet Money app, a “buy now, pay later” microcredit app that is being renewed Small loans up to Rs 10,000 that customers can use for UPI-guided purchases. Similar to LazyPay, which Jitendra started at PayU, Bullet has amassed over half a million downloads so far.

Jupiter – Competitors

Jupiter’s top competitors are as follows –


epiFi is Jupiter’s biggest competitor. It is headquartered in Bengaluru, Karnataka, India and was founded in 2019. epiFi competes in the fintech sector.


P10 is also one of Jupiter’s top competitors. This company is headquartered in Bengaluru, Karnataka and was founded in 2019. P10 also competes in the fintech space.


NiYO, like the others above, is perceived as one of Jupiter’s top competitors. This is also a Bengaluru based company founded in 2015. Like the other 2 companies, NiYO is also active in the fintech sector.

Jupiter – future plans

Jupiter is currently facing the challenge of “fine balance between compliance and agility. “

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