New Delhi, Oct. 30 -- Bengaluru-based neo-banking startup Jupiter Money, has raised Rs 115 crore (around $13 million) in a fresh round of funding from existing investors Mirae Asset Venture Investments, BeeNext, and 3one4 Capital.

The company's founder Jitendra Gupta also participated in the round.

Jupiter did not disclose the valuation of the latest round. The company plans to utilise the funding to break even.

Jupiter said in a press note that it remains focused on achieving operational break even within the next 24 months, while continuing to grow responsibly and doubling its user base over the next 2-2.5 years.

The company posted a net loss of nearly Rs 4.7 crore in April-December 2024, after recording a net profit of around Rs 90 lakh in FY24, documents accessed by VCCircle showed.

In the press note, the company also said that it is leveraging artificial intelligence to drive cost efficiencies and enhance customer experience through personalized, intelligent financial solutions tailored to individual user needs.

"This round gives us the boost to scale [up] responsibly while keeping our promise of making money simpler for millions of Indians," Gupta said in the note.

Founded by Gupta in 2019, Jupiter's platform distributes a wide suite of financial services - from credit cards and savings accounts to loans, investments, insurance, and prepaid instruments. So far, Jupiter has acquired over 3 million customers, it said. On its co-branded card with CSB Bank, customers make an average of 24 transactions per month, with more than 150,000 cards issued to date.

Jupiter also operates an NBFC platform Amica Capital, which provides personal loans, SME loans, and secured lending products.

The company's assets under management rose to nearly Rs 246 crore as on December 31 from around Rs 136 crore in March 2024. The loan book likely crossed Rs 260 crore in March 2025, the documents showed.

Currently, Gupta holds a 77% stake in the non-bank lender. Broadly, Jupiter has over 70 institutional investors including Peak XV Partners, Tiger Global, QED Investors, and Alteria Capital.

Previously, Jupiter raised $86 million in December 2021 in a Series C round of funding jointly led by Tiger Global and Peak XV Partners, which was previously known as Sequoia Capital India and Southeast Asia. The neo-bank also raised $12 million in debt funding from Alteria in early 2023.

Published by HT Digital Content Services with permission from VC Circle.