Ex PayU India MD Jitendra Gupta's Jupiter bags $2 mn from Hummingbird Ventures and Bedrock Capital
Digital banking startup of Jitendra Gupta, former PayU India Managing Director, Jupiter which is owned by Amica Financial Technologies has raised an additional $2 million in a top-up funding round led by British venture capital firm Hummingbird Ventures and US-based Bedrock Capital.
As per news report, the latest investment valued Jupiter at $100 million.
Earlier, in November 2019, in a seed round the company has raised $24 million from capital firms including Sequoia Capital, 3one4 Capital, Matrix Partners and Beenext, as well as a clutch of top angel investors. Post the funding, the startup was valued at $70 million.
With a 50-member team based out of Mumbai and Bengaluru, Jupiter, which is currently in stealth mode, plans to officially launch its flagship product in July.
Gupta, who co-founded fintech startup Citrus Pay, was sold to Naspers-owned PayU in 2016 for about $130 million. The Mumbai-based chartered accountant then joined PayU’s India operations for three years and is considered one among a high-profile second-time entrepreneurs who have racked up big funding even before officially launching their companies.
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