Jupiter Money, the Bengaluru-based digital banking startup, has secured a fresh investment of $15 million from its existing backers Mirae Asset, BEENEXT, and 3one4 Capital. Founder Jitendra Gupta has also made a personal contribution in this round, signaling strong confidence from the leadership and current investors in the company’s direction. While the startup has not officially shared details about its updated valuation, the round is understood to have taken place at a flat valuation of around $600 million. Although this does not reflect an increase in valuation, it highlights stability at a time when many fintechs are facing cautious investor sentiment.
Building a Modern Banking Experience
Jupiter Money has positioned itself as a consumer-friendly digital banking platform where users can manage all their financial activities through one single app. The platform allows users to open and manage savings accounts, track expenses, apply for loans, use credit cards, and make digital payments. The idea is to simplify money management for young professionals who prefer using technology instead of visiting traditional bank branches. By combining smooth design with helpful insights and simple language, Jupiter aims to make finance less confusing and more accessible.
The company currently serves over three million users, with a significant number of them actively using multiple services. Its co-branded credit card offering has also seen noticeable traction, with users adopting it for everyday spending. Jupiter believes that this integrated approach helps people better understand their finances instead of juggling several banking tools.
Expanding Lending and Financial Products
A major focus of the new funding will be to expand Jupiter’s lending operations. The company already operates a Non-Banking Financial Company (NBFC) arm, which allows it to provide credit directly to customers. With the fresh capital, Jupiter plans to scale its loan offerings and introduce more flexible and responsible lending products. The aim is to create credit options that are transparent and easy to manage, especially for first-time borrowers.
Along with lending, Jupiter also plans to grow its investment and insurance features. The goal is to evolve into a complete financial ecosystem, where users can save, spend, borrow, and invest—all in a single app. This approach could help customers avoid switching between multiple apps for different financial needs.
Focus on Profitability and Robust Growth
While Jupiter has primarily focused on user growth in its early phase, the company has now set a target to become operationally break-even over the next two years. The plan is to improve revenue streams while managing costs efficiently. Jupiter also intends to double its user base in the next two to two and a half years. To achieve this, it will invest in stronger technology, improved user experience, and clear financial guidance tools that help users make smarter decisions.
The Road Ahead
The digital banking space in India is evolving rapidly, with competition from both new-age fintech startups and traditional banks that are upgrading their digital capabilities. For Jupiter, the challenge lies in expanding responsibly, maintaining trust, and offering services that genuinely make financial lives easier. With continued investor confidence and a clearly defined product vision, Jupiter Money is preparing for its next phase of growth—one that focuses not just on scale, but on meaningful impact in how India manages money.