Tiger Global co-leads $86m funding in neobank Jupiter and 16 other updates

Mumbai-headquartered neobanking startup Jupiter has raised about $86 million in its Series C funding round led by New York-based investment firm Tiger Global, Sequoia Capital, and QED Investors, per the company’s latest filings with the Registrar of Companies (RoC).

Matrix Partners, Beenext, GFC Global Founders Capital, Rocket Internet Capital, Mirae Asset Fund, 3One4 Capital and MUFG Innovation Partners also participated in the financing.

According to a report in Moneycontrol, the startup was valued at $710 million in the latest round. The startup was last valued at close to $300 million after it raised $44 million in its Series B funding round led by Brazil-based Nubank, Global Founders Capital, and existing investors Sequoia Capital India and Matrix Partners.

Founded by fintech veteran Jitendra Gupta in 2019, Jupiter raised a total of $25 million in seed funding and Series A rounds. Jupiter is a digital bank that offers a savings account bundled with features aiming to simplify money management. The product was co-created with a community of users who suggested features they wanted in a banking app.

INDIA DEAL MONITOR

Here are prominent venture capital transactions in India announced from December 24-28, 2021.

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