• Home
  • Fintech
  • Lending
  • Credit
  • Insurance
  • Wealth
Search
Tuesday, August 2, 2022
  • About W7 News
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Privacy Policy
Password recovery
Recover your password
A password will be e-mailed to you.
  • Home
  • Fintech
  • Lending
  • Credit
  • Insurance
  • Wealth
W7 News
Investment

Jupiter Raises $45M Via Nubank Investment

August 10, 2021

Bangalore and Mumbai-based neobank Jupiter successfully raised $45 million in a Series B financing round. This brings the total amount raised by the company to $70 million and is now valued at more than $300 million.

According to Tech Crunch, the fresh funding comes as the India-based company gears up for its launch in a month’s time.

The Series B investment round was led by Brazil-based Nubank, alongside other investors such as Global Founders Capital, Matrix Partners India, and Sequoia Capital. Mirae Assets Venture from South Korea also participated in the said funding round for a minority stake, said the Economic Times.

Jupiter Raises Funding Via Nubank Investment

Meanwhile, the Economic Times said that other existing investors such as Addition Ventures, Beenext, Greyhound, Tanglin Venture Partners, and 3one4 Capital, managed to raise more than $25 million in a seed funding round.

Jupiter is a neobanking company that aims to disrupt the Indian banking market by providing its consumers with a unique platform that not only functions as a digital bank but also offers users the capacity to buy now and pay later on UPI, reveals Tech Crunch.

It offers different financial products such as a bundled savings account that makes it easier and more accessible for consumers to manage their finances, said Tech Crunch. With its fresh funding, Jupiter looks to publicly launch its company and provide its services to 100,000 people who have signed up.

The feat, however, proves to be challenging for Jupiter as they seek to improve the banking landscape in India, with certain obstacles on the horizon.

Founder and chief executive officer of Jupiter Jitendra Gupta remarked about the venture into neobanking, “If you really want to change the banking industry, you cannot operate on the side. You have to fight from the centre, where they deposit their money. It’s a very time-consuming process and requires a lot of initial capital and experience with banks.”

RELATED ARTICLES

HNA Group Reveals It is Slated to Receive Strategic Investment
Investment

HNA Group Hainan Airlines Reveals It is Slated to Receive $5.9B

Chinese conglomerate HNA Group is slated to receive a strategic investment of 38 billion yuan, approximately $5.9 billion after it had taken steps to restructure the company. The strategic investment will reportedly be divided among 11 entities, including Hainan Airlines, states Reuters. According to Nikkei Asia, the company’s decision stemmed...
Intel Plans to Invest in Chip-Making Business
Investment

Intel Plans to Invest $95B in the EU Chip-Making Business

Popular semiconductor maker Intel announced Tuesday, September 7, 2021, that it plans to invest up to 80 billion euros or approximately $95 billion in Europe over the next ten years. The decision comes after the company aims to boost the chip-making capacity in the European Union, reports Reuters. According to...
NoRedInk Secures Series B Funding Round
Investment

NoRedInk Secures $50 Million In Series B Funding Round

NoRedInk has recently revealed that it was able to secure $50 million during the Series B round. Its digital writing program, which combines adaptive learning, was important in obtaining the investment. The funding round was headed by Susquehanna Growth Equity. True Ventures also participated. Rethink Education, Kapor Capital, and GSV...
Titan Series B Investment Round
Investment

Titan Raises $58M in Series B Investment Round

New York-based investment and financial technology firm Titan announced Tuesday, July 20, 2021, that it had successfully raised $58 million in its Series B funding round. Following the funding round, the company is now valued at $450 million, states Tech Crunch. According to Tech Crunch, Titan’s $58 million in Series...
China Lightning Fast Investment Campaign
Investment

China Surpasses US in Lightning Fast Investment Campaign

China is preparing to establish a sizable solar panel module plant in Malaysia while at the same time in Laos it is taking steps to construct a 580 km highway. This is part of a much larger campaign to cultivate goodwill and economic ties with Southeast Asian countries. The...
Unilever Invests Million To Boost Production
Investment

Unilever Invests $277 Million To Boost Production On Its Mexican Factories

For the next 3 years, Unilever reveals that it aims to increase production and exportation rate with $277 million (5.5 billion pesos) investment on its 4 Mexican plants. The multinational company is a producer of consumer goods, including food, nutrition, hygiene, and personal care needs. It owns various popular brands,...
Life360 Family App Unveils Investment Round
Investment

Life360 Family App Unveils Investment Round Worth $2.1 Million

Life360, a family social networking and tracking app, has unveiled a new funding round that will work alongside celebrity investors and influencers. To assist define the company's product development and marketing in the future, they will create a new "Family Advisory Council." Bryant Stibel, the company co-founded by the late...
BUX Releases Zero-Commission Investment App
Investment

BUX Releases Zero-Commission Investment App in Ireland

BUX, a fast-growing neobroker in Europe, has released BUX Zero, a commission-free investing app now downloadable in the Apple App Store and Google Play Store. It is the first exclusive mobile platform to provide investment in Ireland. The investment app lets users invest directly in any of the listed more...
Twitter Ban Could Damage Nigeria’s Tech Investment
Investment

Twitter Ban Could Damage Nigeria’s Tech Investment Future

Nigeria’s future as potentially Africa’s biggest tech hub could be seeing serious setbacks due to a recent ban on Twitter. The Nigerian government has decided to suspend all of Twitter’s operations in the country. The ban was put in place two days following Twitter’s takedown of a tweet from President...

RECENT POSTS

HNA Group Hainan Airlines Reveals It is Slated to Receive $5.9B

Investment Louise Garay - July 14, 2022 0

Program for an Electric Vehicle Tax Credit for Union-Built Vehicles Faces Obstacle

Credit Christine Parungao - July 10, 2022 0

The International Monetary Fund Urges Australia to Use Lending Curbs to Cool Housing

Lending Mirka Santos - July 8, 2022 0

Evergrande Used Financial Investments to Fund Gaps

Wealth Mari Sze - July 5, 2022 0

China Wealth Redistribution Plan Poses Threat To Europe Luxury Industry

Wealth Louise Garay - July 3, 2022 0

The latest news surrounding fintech, lending, credit, insurance and wealth.

Contact us: tips@w7news.net

POPULAR POSTS

Axis Bank Offering Complimentary Flight Ticket As Welcome Gift With Their...

Credit January 18, 2019

HSBC Offering Up To £1,000 Credit Limit On Their Classic Credit...

Credit January 21, 2019

Kotak Bank Offering 2000 Bonus Reward Points on Their Urbane Gold...

Credit February 18, 2019

POPULAR CATEGORY

  • Credit416
  • Fintech377
  • Lending354
  • Wealth353
  • Investment346
  • Insurance343
  • About W7 News
  • Privacy Policy
  • Contact
  • Terms of Service
© W7 News 2022. All rights reserved.