Summary
Jupiter, the Bengaluru-based neobank startup, has raised $15 million from its existing investors, including Mirae Asset Venture Investments, BEENEXT, and 3one4 Capital, at a flat $600 million valuation. The funding round reflects investor confidence in the company’s long-term vision even as it focuses on reaching profitability rather than pursuing rapid valuation growth. Founded by fintech veteran Jitendra Gupta, Jupiter aims to utilize the new funds to strengthen its operations, achieve break-even, and expand its suite of digital financial products, including UPI payments, investments, credit, and insurance. The steady valuation signals a maturing fintech ecosystem in India where sustainability and profitability are now taking precedence over hyper-growth.
Bengaluru, India – In a telling move in India’s fintech space, neobank-startup Jupiter has secured a fresh US$15 million (≈ ₹115 crore) in funding from its existing investor base, even as the company’s valuation remains “flat” at US$600 million.
The deal: minimal dilution, maximum signal
The raise involves investors such as Mirae Asset Venture Investments, BEENEXT and 3one4 Capital, all of whom already back Jupiter. The startup’s founder, Jitendra Gupta, pitched in personally in this round.
What stands out here is the “flat-valuation” characteristic: the US$600 million valuation is the same number Jupiter was pegged at during its last fundraise in 2021.
In a funding climate where valuati
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