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The round is being extended by $10-11 million just weeks after Jupiter announced a $15 million round. About half of the fresh capital will come from founder and CEO Jitendra Gupta, sources told Moneycontrol.
"Banking is the most relationship-driven offering towards the consumer, and that's how we got into neobanking as a sector," he said. However, he admitted that taking this route hasn’t been easy.
The neobank founder says for businesses such as neobanks and lending platforms to succeed and grow, apart from traditional core business fundamentals, customer acquisition costs needs to be capped and strategised better
Unacademy's Gaurav Munjal and Jupiter's Jitendra Gupta's investment activity fell significantly, keeping them off the list this year. Munjal's investments decreased from 18 to eight this year, while Gupta only made five deals compared to 18 in 2021.
White Venture’s ‘Call to Adventure’ programme will fund executives to build startups and pay salaries to entrepreneurs while they are at it
In the last 10 days, Jupiter said it has onboarded about 25,000 who have invested in direct mutual funds.
Gupta and Rau have been among India’s most active angel investors, with over 100 companies backed between them. Their portfolio includes fintech CRED, gaming firm MPL, craft beer maker Bira, neobank Open and digital ledger Khatabook.
Two of India's best known founders, Amrish Rau and Jitendra Gupta, are becoming venture investors, a growing trend even amid a record funding boom.
Priyanka Sahay is in conversation with Jitendra Gupta to understand the evolution of digital payments in India.
Digital payments platform PayU India today launched 'LazyPay' that allows a deferred payment option to users who transact digitally for amounts ranging between Rs 500-2,500.
O P Sharma, a retired officer from Central Railway, claimed that the queues in the banks are getting shorter and situation is improving gradually.
