Adyen vs Jupiter Money: Revenue, Profit and Business Model
Adyen had ~$2.7B of annual revenue in FY2025 and ~$1.2B of net income. Jupiter Money had ~$13.1M of annual revenue in FY2025.
Latest financial snapshot
Adyen
- Latest annual revenue
- ~$2.7B (FY2025)
- Net income
- ~$1.2B
- Net margin
- 44.9%
- Revenue growth
- +34.7% a year, FY2017–FY2025
Jupiter Money
- Latest annual revenue
- ~$13.1M (FY2025)
- Net income
- Unavailable here
- Net margin
- —
- Revenue growth
- +298.3% a year, FY2023–FY2025
Financial summary
Adyen
Adyen reported 2025 net revenue of ~$2.67 billion (€2.3642 billion), up 18% year over year, while processed volume reached ~$1.58 trillion (€1.3943 trillion). EBITDA was ~$1.41 billion (€1.2457 billion) and the EBITDA margin was 53%. These measures must be kept distinct: processed volume is the value of payments handled, while net revenue is Adyen's primary top-line KPI after specified pass-through costs. Adyen is a major European financial technology firm, commanding a powerful market valuation frequently exceeding $40 billion.
Jupiter Money
Per filings reported by Entrackr, Jupiter's consolidated operating revenue rose about 7x from ~$823,600 (₹7.1 crore) in FY23 to ~$5.94 million (₹51.2 crore) in FY24, and the net loss narrowed 23.1% to ~$27.1 million (₹233.6 crore). The standalone entity reported ~$4.15 million (₹35.8 crore) of operating revenue and a ~$32 million (₹276 crore) loss. In October 2025 the Economic Times reported that revenue had more than doubled in FY25 and the annualised run rate had passed ~$17.4 million (₹150 crore). Total funding is about $185 million, including the October 2025 round of about $15 million from Mirae Asset, BeeNext, 3one4 Capital and Gupta personally, priced at a flat valuation near $600 million. Reports say management is aiming to reach profitability within 12-14 months.
Revenue and profit by year
Adyen
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$2.7B | ~$1.2B | 44.9% | +17.3% | Source |
| FY2024 | ~$2.3B | ~$1B | 45.9% | +23.9% | Source |
| FY2023 | ~$1.8B | ~$789.1M | 42.9% | +22.2% | Source |
| FY2022 | ~$1.5B | ~$637.5M | 42.4% | +32.8% | Source |
| FY2021 | ~$1.1B | ~$530.8M | 46.9% | +46.4% | Source |
| FY2020 | ~$773.1M | — | — | +37.7% | Source |
| FY2019 | ~$561.6M | — | — | +42.4% | Source |
| FY2018 | ~$394.3M | — | — | +60.0% | Source |
| FY2017 | ~$246.3M | — | — | — | Source |
Jupiter Money
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$13.1M | — | — | +120.0% | Source |
| FY2024 | ~$5.9M | ~-$27.1M | -456.3% | +621.1% | Source |
| FY2023 | ~$823,600 | — | — | — | Source |
Where the revenue comes from
Adyen
- Settlement fees
Not formally reported
Fees tied to payment acquiring and settlement; Adyen does not disclose this as a standalone percentage of net revenue.
- Processing fees
Not formally reported
Per-transaction fees for platform services; no audited percentage split is disclosed.
- Other platform and financial-product fees
Not formally reported
Includes services for platforms, issuing, accounts, capital, data, and optimization products without a reported percentage split.
Jupiter Money
- Card interchange
Not formally reported
A share of interchange on Federal Bank debit cards and CSB Bank Edge RuPay credit cards.
- Lending (Amica Finance)
Not formally reported
Interest and processing fees on personal loans: ~$1.79 million (₹15.4 crore) of revenue in FY24.
- Distribution commissions
Not formally reported
Fixed deposits, insurance and digital gold.
- Salary accounts
Not formally reported
Partner fees on accounts sold to employers through its sumHR payroll subsidiary. Consolidated operating revenue was ~$5.94 million (₹51.2 crore) in FY24.
Business model and strategy
Adyen
How it makes money
Adyen earns net revenue from processing and settlement fees and from other services delivered through its platform. Interchange, scheme fees, and costs from financial institutions are generally passed through and are not the same as Adyen's net revenue. The company reports Digital, Unified Commerce, and Platforms as commercial pillars rather than separate reportable revenue segments.
Growth strategy
Adyen is expanding share of wallet with existing customers, adding local payment and acquiring capabilities, and extending its platform beyond payments. In 2026 it added Talon.One for loyalty and incentives and Orb for usage-based billing, while launching Adyen Agentic and Intelligent Money Movement.
Competitive advantage
Adyen operates gateway, risk, acquiring, payment processing, and financial products through a single technology platform. This structure gives merchants one integration and a unified data view across online and in-person channels.
Jupiter Money
How it makes money
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.
Growth strategy
Jupiter grows by cross-selling to its existing base rather than by expensive new-customer campaigns. Its levers are Edge RuPay credit cards on UPI, NBFC personal loans, employer salary accounts (helped by the 2022 sumHR acquisition), and account-aggregator money management that draws in users who bank elsewhere. It also looked at buying into a licensed bank (SBM India), but those talks ended in 2026.
Competitive advantage
Jupiter's edge is a single app that combines a partner-bank account, a UPI-linked RuPay credit card, its own NBFC credit and investments, plus account-aggregator-based tracking across other banks (over 1 million active account aggregator users).
Questions about Adyen vs Jupiter Money
Which company has higher revenue — Adyen N.V. or Jupiter Money?
Adyen N.V. had ~$2.7B (FY2025), while Jupiter Money had ~$13.1M (FY2025). By latest annual revenue, Adyen N.V. is the larger business, with Jupiter Money showing a smaller revenue base.
What is the market cap of Adyen N.V. vs Jupiter Money?
Adyen N.V. has a market capitalisation of $28.1B. A public market cap figure for Jupiter Money was not available (it may be privately held).
How does revenue per employee compare for Adyen N.V. and Jupiter Money?
Adyen N.V. has $560k / employee in revenue per employee, while Jupiter Money has $29k / employee. Headcounts may use different dates, so the ratio alone does not establish which business operates more efficiently.
How do Adyen N.V. and Jupiter Money make money?
Adyen N.V. and Jupiter Money generate revenue in fundamentally different ways. Adyen N.V.: Adyen earns net revenue from processing and settlement fees and from other services delivered through its platform. Jupiter Money: Jupiter earns money in four main ways.
Is Adyen N.V. bigger than Jupiter Money?
By last reported revenue, Adyen N.V. (~$2.7B (FY2025)) is the larger company compared to Jupiter Money (~$13.1M (FY2025)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Adyen vs Jupiter Money overview