Jupiter

History

Jupiter launched amid a wave of Indian fintechs building on UPI payments rails and partner-bank deposits. It targeted salaried urban customers with app-native budgeting and rewards.

Founders

Jitendra Gupta is the founder and chief executive officer of Jupiter, the Mumbai-based Indian neobank. A chartered accountant and fintech veteran, Gupta spent seven years at ICICI Bank before co-founding payments company Citrus Pay in 2010. After Naspers-owned PayU acquired Citrus Pay for about $130 million in 2016—one of India's landmark fintech exits—he served as managing director of PayU India's consumer business and helped build LazyPay.

In 2019 Gupta founded Jupiter to create a mobile-first banking experience for Indian millennials via partner banks on UPI rails—offering salary accounts, savings pots, debit cards and investing features co-created with users and backed by leading venture investors.

Partner-bank model in India

Indian regulations generally require neobanks to partner with scheduled commercial banks for deposits. Jupiter follows that model while building a millennial-focused app on UPI rails—salary accounts, pots, debit cards and investing—rather than seeking a full bank licence of its own.

Reception

Jupiter benefits from founder Jitendra Gupta's Citrus Pay/PayU track record. Coverage emphasises co-created product culture and competition with other Indian digital banking apps and incumbent super-apps.

Products

The app includes savings accounts, debit cards, pots/goals, mutual-fund investing and salary-account features. Banking is delivered via partner banks under Indian regulations.