Jupiter in talks to raise $50 mn

Neobanking startup Jupiter is in early-stage discussions to raise $30-50 million from existing investors to fund expansion, according to four people familiar with the plan.

- Priyamvada C

"QED Investors, Z47 (formerly Matrix Partners), Peak XV Partners, 3one4 Capital and Beenext will double down on their investment," one person said.

Peak XV declined to comment on the plan. Jupiter, QED, Z47, 3one4 and Beenext did not respond to Mint's emails seeking comment.

"The company has received interest from external investors as well and the round could become larger," a second person said, adding that details of the size, terms and valuation are still evolving as the firm improved its financials over the past two years.