[Funding alert] Neobank Jupiter raises $86M in Series C round

Mumbai-settled fintech organization Jupiter has brought $86.6 million up in a Series C round of subsidizing drove by New York-settled mutual funds Tiger Global, Sequoia Capital and Virgina-settled QED Investors, as per filings made with the Registrar of Companies (RoC).

Different financial backers in the round incorporate returning financial backers Matrix Partners, Beenext, GFC Global Founders Capital, Rocket Internet Capital, Nubank, Mirae Asset Fund, 3One4 Capital and Mitsubishi's MUFG Innovation Partners.

Jupiter was esteemed at $711 million as a feature of the round as per reports, up from $300 million in August when it brought $44 million up in a Series B round of subsidizing drove by Brazil's Nubank, Global Founders Capital, Sequoia Capital India and Matrix Partners.

Established in 2019 by sequential business person and CitrusPay author Jitendra Gupta, Jupiter is a client confronting neobank which offers simplicity of keeping cash and installment exchanges, aside from bits of knowledge on consumption, objective based investment funds and an organization marked computerized charge card.

In a prior meet with YourStory, Founder and CEO of Jupiter, Jitendra Gupta said that the organization which presently offered just investment funds items will likewise get into client centered loaning soon.

The neobanking space, which fills in as an instinctive advanced layer for all financial administrations, has seen numerous fintech players in India wagering on it. Recently, client confronting neobank Fi raised $50 million drove by B Capital Group, Falcon Edge and others. Different rivals in the space incorporate Tencent supported NiYO. The client confronting neobanks target working experts in metros who need a basic point of interaction to deal with their banking needs.

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