How Much Did Jupiter Raise? Funding & Key Investors

Jupiter has successfully raised funds through seven different funding rounds, attracting a total of 27 investors, including notable names like BEENEXT and 3one4 Capital. The platform offers a comprehensive suite of financial services through a single app, making it easier for users to manage their finances.

Keep reading to explore the intricacies of Jupiter's fundraising journey and the investors backing this innovative platform.

What Is Jupiter?

Jupiter is a digital banking app based in Mumbai, Maharashtra, India. The company operates in various industries, including banking, consulting, finance, financial services, fintech, and wealth management. With an employee count ranging from 501 to 1000, Jupiter offers smart insights based on user spending and features to help users manage their finances effectively.

Jupiter provides a comprehensive app for managing financial needs, including savings accounts, credit cards, loans, and investment options like mutual funds and DigiGold. The company partners with regulated entities to offer these services, ensuring high security standards and 24/7 customer support.

How Much Funding Has Jupiter Raised?

1. Seed Round
   • Amount Raised: USD 24,000,000
   • Date: November 2019
   • Lead Investors: Peak XV Partners
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To kickstart the development of Jupiter's digital banking platform.
2. Series A
   • Date: April 2020
   • Lead Investors: Hummingbird Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand the team and accelerate product development.
3. Series B
   • Amount Raised: USD 45,000,000
   • Date: August 2021
   • Lead Investors: Global Founders Capital, Nubank, Peak XV Partners, Z47
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale operations and enhance the app's features.
4. Series C
   • Amount Raised: USD 86,000,000
   • Date: December 2021
   • Lead Investors: Peak XV Partners, QED Investors, Tiger Global Management
   • Valuation at Round: USD 710,000,000
   • Motivation Behind the Round: To expand the neobanking platform and financial services offerings.
5. Debt Financing
   • Amount Raised: INR 1,000,000,000
   • Date: December 2022
   • Lead Investors: Alteria Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support the growth of Jupiter's NBFC arm, Amica Finance.
6. Series Unknown
   • Amount Raised: USD 2,400,000
   • Date: June 2024
   • Lead Investors: Peak XV Partners
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand operations and enhance technology.
7. Series Unknown
   • Amount Raised: USD 15,000,000
   • Date: October 2025
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To further scale the platform and introduce new financial products.

Total Amount Raised: USD 172,400,000. Current Valuation: USD 710,000,000.

Key Investors

• Peak XV Partners
  • Details: Peak XV Partners is a venture capital firm that invests in early and growth-stage companies. They have a significant presence in the fintech sector.
  • Investment Focus Areas: Early-stage companies, growth-stage companies, fintech.
  • Notable Investments: Not publicly disclosed.
• Matrix Partners
  • Details: Matrix Partners is a venture capital firm that invests in seed and early-stage companies across various sectors. They have a strong focus on technology and innovation.
  • Investment Focus Areas: Seed-stage companies, early-stage companies, technology.
  • Notable Investments: Not publicly disclosed.
• QED Fund
  • Details: QED Fund is a venture capital firm focused on investing in early-stage, disruptive financial services companies. They are known for their expertise in fintech.
  • Investment Focus Areas: Early-stage companies, disruptive financial services, fintech.
  • Notable Investments: Not publicly disclosed.
• Global Founders Capital
  • Details: Global Founders Capital is a globally oriented venture capital firm that invests in technology companies. They have a broad investment portfolio across various sectors.
  • Investment Focus Areas: Technology companies, global markets, innovation.
  • Notable Investments: Not publicly disclosed.
• Tiger Global
  • Details: Tiger Global is an investment firm that focuses on private and public companies in the global Internet, software, consumer, and financial technology industries. They are known for their aggressive investment strategy.
  • Investment Focus Areas: Global Internet, software, consumer, financial technology.
  • Notable Investments: Not publicly disclosed.

What's Next for Jupiter?

Jupiter's future looks promising as it continues to leverage strategic funding to expand its NBFC arm, Amica Finance. With recent investments from Peak XV Partners, Matrix Partners, and QED Fund, the company is well-positioned to disburse larger loans and utilize its prepaid payment instruments license to enable UPI payments through its app. This expansion into digital lending and financial services aligns with industry trends favoring fintech innovation.

Future fundraising opportunities seem likely, given the strong backing from high-profile investors and the growing interest in neobanking platforms. However, Jupiter may face challenges such as managing operational losses, navigating regulatory compliance, and competing with other fintech companies. Despite these hurdles, the company's strategic moves and robust investor confidence suggest a bright path ahead.

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