Neobanking start-up Jupiter had raised funding from fintech investor QED Investors, sources said. QED Investors is a leading fintech investor, and its portfolio includes Nubank, Clearscore, SoFi, Klarna, among others.
The funding is part of Jupiter's Series B round when the company was valued at $300 million, the source said.
Jupiter had raised US $44 million from investors in its Series B round last month, which had been led by Brazil-based Nubank and Global Founders Capital. Sequoia Capital and Matrix Partners, Mirae Assets Venture also joined the round. All existing investors, including Addition Ventures, Tanglin VC, Greyhound, 314 Capital, and Beenext, had also participated pro-rata in the round.
Jupiter offers a 100% digital savings bank account with in-built money management features. The beta app is currently available to 100k+ users who’d signed up to the waitlist, and will be rolled out to the general public later this year, the company had said in August.
The start-up is founded by fintech veteran Jitendra Gupta who had sold Citrus Payments to PayU in a $130 million deal in 2016 and founded Lazypay during his PayU stint.
Gupta and QED Investors did not respond to queries.
First Published: IST