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Fintech platform Jupiter Money has raised Rs 115 crore in a fresh funding round, marking another show of confidence from its existing investors, as the company more than doubled its revenue in the last financial year. The round saw participation from Mirae Asset Venture Investments, BeeNext, and 3one4 Capital, alongside additional capital from founder and CEO Jitendra Gupta, the company said in a statement. The Bengaluru-based startup operates a regulated platform offering savings accounts, credit cards, loans, investments, and insurance through a single app. “We are building the go-to money app for India’s millennials—transparent, inclusive, and truly helpful in everyday life. This round gives us the boost to scale responsibly while keeping our promise of making money simpler for millions of Indians,” Gupta said. Jupiter aims to achieve operational breakeven within 24 months while doubling its user base over the next two to two-and-a-half years, it said. The company is also integrating AI into its operations to improve cost efficiency and deliver more personalised financial recommendations. The fintech company has onboarded over 3 million customers, with 60% actively engaging across multiple products. More than a quarter of active users now use two or more of its services, signalling deeper customer adoption. The company said its revenue grew more than 2.2X in the last financial year, and it is now "doubling down on sustainable growth." Jupiter's account aggregator platform has reached over 1 million active users, while its co-branded credit card with CSB Bank has crossed 150,000 issued cards, with users averaging 24 transactions per month. The company also operates an NBFC arm backed by Peak XV, Z47, Tiger Global, Beenext, and QED. It plans to expand that business into personal, SME, and secured loans as part of a broader lending suite. It has also secured a direct insurance broker license from the Insurance Regulatory and Development Authority of India (IRDAI), marking its official entry into the insurance distribution business. (Edited by Suman Singh)
