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Jitendra Gupta is a chartered accountant and works at Jupiter, a fintech company in Mumbai. View his education, experience, and connections on LinkedIn.
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Jun 21, 2021 · Jitendra Gupta, the co-founder of CitrusPay and PayU, is back with Jupiter, a startup that aims to disrupt the banking industry with smart features and personalized tips. Jupiter partners with Federal Bank and Axis Bank and plans to serve over 1 million customers in the next 12 months.
- How Do Neobanks Operate?
- What Is Jupiter Money?
- Funding and Investors
- Business Model
- The Growth
- What’s Unique About Jupiter Money?
- How Well Is Jupiter Money Performing Financially in Contrast to Its Competitors?
- Neobank Scene in India
- Is Neobanking A Greater Future in India?
Running a bank in India is no easy feat, as it involves navigating through multiple regulations and operating under the watchful eye of the Reserve Bank of India (RBI). Then there’s another question comes in. Are neobanks legal? In RBI’s words, The central bank doesn’t recognise neo banks as 'banks', so the customers might get into legal trouble in...
Jupiter Money, an Indian neobank startup, offers a range of services, including savings accounts, debit cards, credit cards, salary accounts, and recently launched mutual funds. The startup boasts a feature allowing users to invest in mutual funds through a zero-penalty SIP, meaning there are no fees for missed Systematic Investment Plan (SIP) cont...
Jupiter has raised a total of $155 million in funding throughout its four funding rounds. Jupiter's most recent round was in January 2023, when it raised about Rs 100 crore in debt, mainly to build and scale up its lending products. Before this, The fintech startup had raised $86 million from QED investors and Sequoia Growth Fund, Tiger Global, and...
Jupiter uses the mobile-first model to differentiate itself by introducing new products and services. Jupiter's business model is based on Monzo, a digital mobile-only bank in the United Kingdom, and Nubank, a bank in Brazil. If I have to break down what a mobile-first model is. A "mobile-first" strategy is building a desktop site first with the mo...
So far, Jupiter's app has garnered over 5 million downloads on the Google Plays store. Apart from this, The startup also launched the Bullet Money app, a micro-lending ('Buy Now Pay Later) app to provide customers with small-ticket loans of up to Rs 10,000 to use for UPI-led purchases. Bullet, like LazyPay, which Jitendra launched at PayU and later...
According to Gupta, What sets Jupiter apart is its approach to customer goals. Traditional banks often disconnect savings activities from specific outcomes, but Jupiter adopts a more personalised and contextual finance app approach. This method tailors financial goals to individual needs, moving away from the one-size-fits-all model. Jupiter's visi...
While the Indian neobank space is still in a nascent stage, The country does have a dozen of neobanks looking to disrupt the BFSI sector, including key players such as Open, NiYO, Hylo, PayZello, InstaDApp, YeLo, ChqBook, FamPay, Walrus, epiFi, Finin and RazorPay X among others. NiYO is regarded as one of Jupiter's major competitors, given the amou...
According to a report by KBV Research, The global neobanking market is expected to be worth $333.4 billion by 2026, expanding at a compound annual growth rate (CAGR) of 47.1%. However, neobanks, like all financial institutions, have advantages and disadvantages. Here are a few advantages of neobanks for a quick rundown: 1. Neo-bank Customers includ...
While the reports indicate a brighter future for the Indian neo-banking sector, some concerns can negatively affect the growth of new-age startups that wants to revolutinize how people interact with banks for their financial needs. Traditional banks, recognizing the shift in consumer preferences, are increasingly adopting digital strategies similar...
Jul 12, 2021 · Learn how Jitendra Gupta, who sold Citrus Pay for $130 million in 2016, launched Jupiter, a neobanking platform for millennials, in 2019. Find out his vision, challenges, and insights on disrupting India's banking system.
Dec 27, 2021 · Jupiter, a consumer-focused neobank co-founded by industry veteran Jitendra Gupta, has secured $86 million in a Series C round. The startup plans to launch lending and wealth management services for its half a million users in India.
Jitendra Gupta is the CEO and co-founder of Jupiter, a fintech startup in India. He has also founded Citrus Payment Solutions and Lazypay, and invested in several other companies, including SiPay and OTPless.
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Aug 5, 2021 · Industry veteran Jitendra Gupta’s neobank for consumers in India — Jupiter — has raised $45 million in a new financing round as the Bangalore and Mumbai-based startup gears up for its platform’s...
