Neobanking start-up Jupiter has raised Rs 100 crore as venture debt from Alteria Capital and will use the money to expand its lending products.
The company counts the likes of Tiger Global, QED Investors, Sequoia Capital India, Matrix Partners India, Brazil-based Nubank, Global Founders Capital, and Mirae Assets Venture among its list of blue-chip investors.
“This partnership will act as a catalyst to our efforts of building an all-inclusive and innovative platform. For cutting-edge financial services products. As we enter the new year, we at Jupiter look forward to providing accessible and affordable credit options to our customers, thereby creating a healthy credit growth in the country,” said Jitendra Gupta, founder and CEO of Jupiter.
The Mumbai- and Bengaluru-based company plans to roll out new investments and credit-focused products in 2023.
“Jupiter is a very strong brand in the personal finance app space for Indian consumers. Providing customised and agile credit products is going to be an important differentiator and Jupiter is well placed to target this opportunity,” said Vinod Murali, managing partner & co-founder, Alteria Capital.
“This is one of the largest commitments for Alteria and we are excited to partner with Jiten and the team at Jupiter to help facilitate their credit journey and make a meaningful impact in the Indian retail credit ecosystem,” he said.