Jupiter Money vs Remitly: Revenue, Profit and Business Model
Jupiter Money had ~$13.1M of annual revenue in FY2025. Remitly had $1.6B of annual revenue in FY2025 and $67.9M of net income.
Latest financial snapshot
Jupiter Money
- Latest annual revenue
- ~$13.1M (FY2025)
- Net income
- Unavailable here
- Net margin
- —
- Revenue growth
- +298.3% a year, FY2023–FY2025
Remitly
- Latest annual revenue
- $1.6B (FY2025)
- Net income
- $67.9M
- Net margin
- 4.2%
- Revenue growth
- +53.2% a year, FY2019–FY2025
Financial summary
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.
Remitly
Revenue grew from $126.6 million in 2019 to $1.635 billion in 2025, and the company swung from a $117.8 million net loss in 2023 to $67.9 million of net income in 2025. FY2025 adjusted EBITDA was about $272 million and free cash flow about $283 million. In Q2 2026 revenue rose 20% to $495.2 million, send volume rose 27% to $23.5 billion, adjusted EBITDA reached a record $114.7 million, and net income of $205.9 million included a $140.6 million discrete tax benefit. Send volume growing faster than revenue points to a declining take rate as Remitly attracts larger, higher-value transfers. Remitly Global, Inc. is a major American digital financial services company specializing in international remittances, commanding a market valuation typically over $3 billion.
Revenue and profit by year
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 |
Remitly
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $1.6B | $67.9M | 4.2% | +29.4% | Source |
| FY2024 | $1.3B | -$37M | -2.9% | +33.9% | Source |
| FY2023 | $944.3M | -$117.8M | -12.5% | +44.5% | Source |
| FY2022 | $653.6M | -$114M | -17.4% | +42.5% | Source |
| FY2021 | $458.6M | -$38.8M | -8.5% | +78.5% | Source |
| FY2020 | $257M | -$32.6M | -12.7% | +103.0% | Source |
| FY2019 | $126.6M | -$51.4M | -40.6% | — | Source |
Where the revenue comes from
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.
Remitly
- Transaction feesMajor
Upfront fees charged on eligible transfers depending on corridor, speed, funding method, and promotion.
- Foreign-exchange spreadsMajor
Revenue from the difference between exchange rates offered to customers and Remitly's underlying currency cost.
- Related financial servicesEmerging
Ancillary services around migrant finance, business payments, and account-based products.
Business model and strategy
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).
Remitly
How it makes money
Remitly earns most of its revenue on each transfer a customer sends: a transaction fee that varies by corridor, speed and funding method, plus a foreign-exchange spread between the rate Remitly pays for currency and the rate shown to the customer. Costs sit mainly in payout-partner and payment-processing fees, marketing, fraud and transaction losses, compliance and customer support.
Growth strategy
Under CEO Sebastian Gunningham, Remitly is pursuing three paths: adding send and receive corridors, moving upmarket to higher-value senders and small businesses, and broadening into products beyond one-off transfers, including Remitly Flex, a wallet and card, and the Remitly One membership. Management has also credited AI-driven operating efficiencies with funding growth investment while lifting margins.
Competitive advantage
Remitly's edge is corridor-level execution: licenses in many send markets, a payout network covering bank deposit, mobile wallet and cash pickup in a large number of receive countries, and risk models trained on years of remittance data. That combination lets it promise delivery times and keep fraud losses in check, which matters to customers who send money to family on a recurring schedule.
Questions about Jupiter Money vs Remitly
Which company has higher revenue — Jupiter Money or Remitly Global, Inc.?
Jupiter Money had ~$13.1M (FY2025), while Remitly Global, Inc. had $1.6B (FY2025). By latest annual revenue, Remitly Global, Inc. is the larger business, with Jupiter Money showing a smaller revenue base.
What is the market cap of Jupiter Money vs Remitly Global, Inc.?
Remitly Global, Inc. has a market capitalisation of $4.5B. A public market cap figure for Jupiter Money was not available (it may be privately held).
How does revenue per employee compare for Jupiter Money and Remitly Global, Inc.?
Jupiter Money has $29k / employee in revenue per employee, while Remitly Global, Inc. has $454k / employee. Headcounts may use different dates, so the ratio alone does not establish which business operates more efficiently.
How do Jupiter Money and Remitly Global, Inc. make money?
Jupiter Money and Remitly Global, Inc. generate revenue in fundamentally different ways. Jupiter Money: Jupiter earns money in four main ways. Remitly Global, Inc.: Remitly earns most of its revenue on each transfer a customer sends: a transaction fee that varies by corridor, speed and funding method, plus a foreign-exchange spread between the rate Remitly pays for currency and the rate shown to the customer.
Is Jupiter Money bigger than Remitly Global, Inc.?
By last reported revenue, Remitly Global, Inc. ($1.6B (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 Jupiter Money vs Remitly overview