Jupiter Money
Leadership History
1 leader · 2019 to present
Jitendra Gupta is the CEO of Jupiter Money, in the role since 2019.
| Name | Role | From | To | Years in role |
|---|---|---|---|---|
| Jitendra Gupta | Founder & CEO | 2019 | Present | 7 |
Jupiter launched in 2021 as one of India's first heavily funded neobanks, a mobile front end on top of Federal Bank. Since then it has added an NBFC licence, a prepaid payment instrument licence, CSB Bank co-branded credit cards and investment products, and now describes itself as a money management app. It is based in Bengaluru, registered in Mumbai, and led by founder-CEO Jitendra Gupta. The company is headquartered in Mumbai, India.
Jupiter earns money in four main ways. It takes a share of interchange when customers spend on Federal Bank debit cards and CSB Bank Edge RuPay credit cards, including credit card payments over UPI. Its NBFC, Amica Finance, earns interest and processing fees on personal loans; that arm generated ~$1.79 million (₹15.4 crore) of revenue and a ~$147,320 (₹1.27 crore) standalone profit in FY24. It also collects distribution commissions on fixed deposits, insurance and digital gold, and partner fees on salary accounts sold to employers through its sumHR payroll subsidiary. Deposits stay on the partner bank's balance sheet, so Jupiter's job is acquiring customers and selling them more products: about a quarter of active users hold two or more.
Founder & CEO
2019 – Present
7 years (current)
Shifted Jupiter from a pure neobank front end toward lending and credit through the Amica Finance NBFC and CSB Bank Edge cards. After 2025 he prioritised reaching breakeven over new expansion.
A chartered accountant and seasoned fintech pioneer who previously founded Citrus Pay (sold to Naspers for $130M) and led PayU India, Gupta has been a prominent architect of India's neobanking sector.
Jupiter's main problem is scale relative to cost. In FY24 it spent about ₹6.45 for every rupee of operating revenue, and employee costs (~$22.6 million (₹195 crore) including ~$4.76 million (₹41 crore) of ESOP expense) were more than half of total spending. Without its own banking licence it depends on partner banks and on RBI rules for co-branded cards and digital lending. Its 2024-2026 attempt to buy a minority stake in State Bank of Mauritius's India arm fell through, and closest rival Fi Money wound down most of its consumer neobank operations, which shows how hard the standalone model is.
Jitendra Gupta is the founder and CEO of Jupiter Money. A chartered accountant by training, Gupta is one of India's most celebrated fintech pioneers: founding Citrus Pay in 2011 (acquired by PayU for $130M), serving as Managing Director of PayU India (creating LazyPay credit), before founding Jupiter in 2019.
Under Jitendra Gupta, Jupiter raised about $185M in venture capital, launched the app to over 3 million customers, secured an RBI NBFC lending license, launched the Jupiter Edge RuPay credit card, and built one of India's premier neobanking engineering teams.
Vishnu Jerome co-founded Jupiter with Jitendra Gupta in 2019 and was named as co-founder when the company raised its seed round.
Gupta champions disciplined, sustainable growth: prioritizing credit underwriting quality over reckless user growth, diversifying revenue across interchange, NBFC interest, and wealth fees, and building long-term regulatory trust.
Gupta's mandate focuses on expanding the Amica Finance lending loan book, launching credit-on-UPI products for Tier 2 professionals, scaling salary banking, and achieving company-wide EBITDA profitability.
Jitendra Gupta serves as CEO. He is the absolute driving force behind the company. Because he previously built Citrus Pay (which he sold for $130 million) and helped build Lazypay, he has massive credibility with the RBI (Reserve Bank of India) and global venture capitalists, allowing Jupiter to navigate the incredibly strict Indian regulatory environment.
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