Jupiter Money
Company History
Jupiter Money History: Founding, Growth & Key Milestones
Founded 2019 in Mumbai, India
When was Jupiter Money founded?
Jupiter Money was founded in 2019 in Mumbai, India by Jitendra Gupta and Vishnu Jerome, making it 7 years old.
- Founded
- 2019
- Founding place
- Mumbai, India
- Founders
- Jitendra Gupta and Vishnu Jerome
- Headquarters today
- Bengaluru, Karnataka, India (registered office: Mumbai)
- Milestones documented
- 7 (2019–2026)
- Current CEO
- Jitendra Gupta
- Acquisitions
- 4
| Year | Event |
|---|---|
| 2019 | Jupiter Founded with $24M Seed Round |
| 2021 | Jupiter app launches with Federal Bank; acquires savings app Easyplan; $45M Series B |
| 2021 | $86M Series C |
| 2022 | sumHR Acquired |
| 2024 | FY24 Revenue and Loss |
| 2025 | October: raises about $15M from Mirae Asset, BeeNext, 3one4 Capital and Gupta at a flat |
| 2026 | Talks to buy a minority stake in SBM Bank India collapse; Jupiter focuses on reaching |
- Where was Jupiter Money founded?
- Jupiter Money was founded in Mumbai, India in 2019.
- Who founded Jupiter Money?
- Jupiter Money was founded by Jitendra Gupta and Vishnu Jerome.
- When did Jupiter Money start?
- Jupiter Money was founded in 2019.
- How old is Jupiter Money?
- Jupiter Money is 7 years old as of 2026.
Founding Story
Jitendra Gupta, a chartered accountant, founded payment gateway Citrus Pay in 2011 and sold it to Naspers-owned PayU in 2016 for about $130 million. After running PayU India, he started Jupiter in 2019 with Vishnu Jerome. In November 2019, before the product existed, the pair raised a $24 million seed round from Sequoia India, Matrix Partners India, Beenext and 3one4 Capital at about a $70 million valuation.
Founders
Jitendra Gupta
Jitendra Gupta is the founder and CEO of Jupiter. A chartered accountant, he founded Citrus Pay in 2011, sold it to PayU in 2016 for about $130 million, and ran PayU India before starting Jupiter in 2019. Jitendra Gupta was born in 1981.
Vishnu Jerome
Vishnu Jerome co-founded Jupiter Money in 2019 alongside Jitendra Gupta. As a highly experienced legal architect (he founded the law firm Jerome Merchant + Partners), he played an absolutely critical role in navigating the incredibly complex, highly restrictive regulations of the Reserve Bank of India (RBI) that govern neobanks, ensuring Jupiter could operate legally on top of traditional banking infrastructure. (Exact birth year remains publicly undisclosed).
Key Milestones
Jupiter Founded with $24M Seed Round
Jitendra Gupta and Vishnu Jerome start Jupiter; $24M seed round at about a $70M valuation.
Source: entrackr.comJupiter app launches with Federal Bank; acquires savings app Easyplan; $45M Series B
Jupiter app launches with Federal Bank; acquires savings app Easyplan; $45M Series B co-led by Nubank.
Source: fintechfutures.com$86M Series C
December: $86M Series C led by Tiger Global and QED at about a $710M valuation.
Source: techcrunch.comsumHR Acquired
Acquires HR-tech startup sumHR to support salary accounts (disclosed February 2023).
Source: inc42.comFY24 Revenue and Loss
FY24 consolidated operating revenue reaches ~$5.94 million (₹51.2 crore); loss narrows 23% to ~$27.1 million (₹233.6 crore).
Source: entrackr.comOctober: raises about $15M from Mirae Asset, BeeNext, 3one4 Capital and Gupta at a flat
October: raises about $15M from Mirae Asset, BeeNext, 3one4 Capital and Gupta at a flat ~$600M valuation.
Source: m.economictimes.indiatimes.comTalks to buy a minority stake in SBM Bank India collapse; Jupiter focuses on reaching
Talks to buy a minority stake in SBM Bank India collapse; Jupiter focuses on reaching breakeven.
Source: moneycontrol.comMajor Acquisitions
Easyplan
2021Goal-based savings app acquired to add savings features.
sumHR
2022HR-tech and payroll software to support corporate salary accounts.
EasyPlan
2021Personal finance and mutual fund investment startup to bolster savings and investment capabilities.
Mitter.io
2021Private cloud-based chat API platform.
Keep researching Jupiter Money
Jupiter Money Company History FAQ
What are the historic milestones in the evolution of Jupiter Money from 2019 to today?
Key milestones: $24M seed round (2019), app launch with Federal Bank, Easyplan acquisition and $45M Series B co-led by Nubank (2021), $86M Series C at about $710M (December 2021), sumHR acquisition (2022), ~$5.94 million (₹51.2 crore) FY24 revenue, a $15M flat-valuation round (October 2025), and the end of SBM India stake talks (2026).
What was the landmark December 2021 Series C funding round led by Tiger Global and QED?
In December 2021, Jupiter closed an $86 million Series C funding round co-led by Tiger Global and QED Investors at a $710 million valuation, providing large capital to build its lending engine and scale its workforce.
What is the significance of Jupiter's NBFC licence?
Jupiter's subsidiary Amica Finance holds an RBI NBFC licence. That lets Jupiter lend from its own balance sheet instead of only earning sourcing fees. The NBFC earned ~$1.79 million (₹15.4 crore) of revenue in FY24.
When did Jupiter introduce the Jupiter Edge RuPay Credit Card on UPI?
In late 2023, Jupiter launched the Jupiter Edge CSB Bank RuPay Credit Card, empowering users to make credit card payments via UPI QR codes with instant cashback rewards.
How did Jupiter expand into the corporate payroll segment in 2023 to 2024?
Following the sumHR acquisition, Jupiter launched 'Jupiter for Corporate Salary,' signing up hundreds of high-growth tech companies and startups to manage automated employee payroll banking.
What is Jupiter Money's strategic vision for the next decade of Indian digital banking?
Jupiter envisions remaining India's most loved and intelligent digital financial companion, empowering millions of young professionals with autonomous financial wellness, fair credit, and smooth digital banking.
How did Jupiter Money start?
Jupiter Money was founded in 2019 by Jitendra Gupta in Mumbai. Gupta is a highly respected veteran of Indian fintech (having previously founded Citrus Pay and served as MD of PayU India). He recognized that traditional Indian banks (like SBI or HDFC) offered incredibly terrible, clunky digital experiences for Millennials. He launched Jupiter as a sleek, highly intuitive "neo-bank" to solve this.
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