SBM's new management and the Mauritius government were not keen on the partnership. Jupiter to focus on achieving breakeven over the next 14 months
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.