Jupiter raises Rs 100 Cr in venture debt financing from Alteria Capital
Fintech startup Jupiter will use the proceeds to build and scale up its lending products.
Mumbai-headquartered fintech firmhas raised $12.12 million (Rs 100 crore) in a venture debt funding round from Alteria Capital.
The startup will use the proceeds mainly to build and scale up its lending products, the company said in a statement. “As we enter the new year, we at Jupiter look forward to providing accessible and affordable credit options to our customers,” said Jitendra Gupta, Founder and CEO, Jupiter.
The startup raised $86.6 million in December 2021 in a Series C round led by New York-headquartered hedge fund Tiger Global, Sequoia Capital, and Virgina-headquartered QED Investors.
Late last year, the startup launched its first-of-a-kind on-demand salary product that allows users to withdraw their salary basis the number of days they have worked.
“Jupiter is a very strong brand in the personal finance app space for Indian consumers. Providing customised and agile credit products is going to be an important differentiator, and Jupiter is well placed to target this opportunity...,” said Vinod Murali, Managing Partner and Co-founder, Alteria Capital.
Edited by Akanksha Sarma