What Jupiter does

Jupiter (Amica Financial Technologies Private Limited) is an Indian consumer neobank operating a single-app 'super-app' for savings, payments, lending, investments and insurance, serving 3M+ users (30 Lakh+ Indians) through iOS and Android apps rated 4.7/4.4 on app stores. The company was founded in 2019 by Jitendra Gupta and is headquartered in Bengaluru, India, with a 600+ member team. Its product surface spans Federal Bank-hosted savings/salary/corporate-salary accounts, UPI payments, three co-branded credit cards (Edge+ CSB Bank RuPay, Edge CSB Bank RuPay, Edge Federal Bank VISA), personal loans up to ₹5 Lakh, mini loans at 0% for salary-account users, loan-against-mutual-funds up to ₹2 Crore, 1,100+ mutual funds, 24K Digital Gold via MMTC-PAMP/SafeGold, Flexi/Recurring Deposits, and an IRDAI-licensed insurance distribution line (Health Super Top-up, UPI Protect, Fraud Protect, Screen Protect, Salary Protect).

The technical architecture sits on RBI-regulated partner infrastructure rather than a bank licence: deposits are held by Federal Bank and CSB Bank, the Jupiter Account wallet is issued by wholly owned subsidiary Amica Payment Services (PPI Licence No. 192/2024), lending is facilitated by RBI-registered NBFCs Amica Finance (N-13.02457) and Kisetsu Saison Finance, and mutual fund distribution runs through SEBI-registered Amica Investment Advisers (INA000015507) and AMFI CAT-1 EOP (EOP-0005). Core proprietary technology includes the Jewels rewards engine, Magic Spends auto-investment, No-Penalty SIPs, Pots goal-based sub-accounts, Account Aggregator (Finvu)-linked multi-bank spend categorisation, Net Worth calculation, and AI/ML-driven fraud detection and wellness insights.

The business model is freemium with monetisation across multiple streams: interest income and processing fees on personal/mini/LAMF loans, credit card interchange and EMI conversion economics, mutual fund and Digital Gold distribution commissions, IRDAI insurance broker commissions, PPI float and ancillary fees (₹299+GST card issuance/annual maintenance, up to ₹300+GST low-balance charge, 3.5% forex markup), and indirect B2B revenue from the Jupiter for Teams salary-account motion serving 1,500+ corporate clients. FY24 operating revenue was ₹51.2 crore (~US$6.1M, 7x YoY), with a reported FY25 run rate exceeding ₹150 crore; FY24 net loss was ₹233.6-276 crore, with the company targeting operational breakeven within 24 months.

Name

Jupiter

Legal name

Amica Financial Technologies Private Limited

Website

https://jupiter.money

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

Jupiter is an Indian consumer neobank (Amica Financial Technologies) serving 3M+ users with a unified super-app offering RBI-regulated savings accounts, UPI payments, co-branded credit cards, personal and LAMF loans, mutual funds, digital gold, and IRDAI-licensed insurance via partner banks and wholly owned subsidiaries.

Ownership category

akta.pro rank

Product category

Digital Banking (Neobank)

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Finance Services (6199)

akta.pro primary industry

Cross-Border & FX Payments Platforms (BPAMAFAK)

akta.pro secondary industries

Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG), A2A Payment Initiation Service Providers (PISPs) (FSAMAFAB)

Keywords

• Digital banking
• Mobile payments
• Consumer lending
• Wealth management
• Insurance distribution

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Interest income from lending: Personal loans, mini loans, and loan-against-mutual-funds originated and serviced through Amica Finance (NBFC) and Kisetsu Saison Finance; interest rates start at 1.33% p.m. on personal loans, 0% for mini loans up to 45 days for salary account users, and 10.5% p.m. on LAMF, with up to 4% processing fees.
2. Credit card interchange and processing economics: Co-branded Edge+ (CSB Bank RuPay), Edge (CSB Bank RuPay), and Edge Federal Bank Visa credit cards generate interchange, late fees, EMI conversion revenue (1.33% p.m. onwards), and processing fees; cards are distributed by Europa Neo Marketing.
3. Wealth/investment distribution commissions: Trailer/commission income from distributing 1,100+ mutual funds through Amica Investment Advisers (SEBI IA INA000015507, AMFI CAT-1 EOP) and from selling 24K Digital Gold via MMTC-PAMP and SafeGold at live market prices (1% cashback on gold purchases).
4. Insurance broking commissions: Direct Insurance Broker (Life & General) licence from IRDAI enables commission revenue on distributing health (Health Super Top-Up, Onsurity partnership), accident, UPI Protect, fraud protect, and salary protect insurance policies.
5. PPI / Prepaid Payment Instrument float and fees: Jupiter Account Prepaid Payment Instrument issued by wholly owned subsidiary Amica Payment Services (RBI PPI Licence No. 192/2024) generates float income and customer fees, augmented by cross-sell of co-branded credit/debit cards from Federal Bank and CSB Bank.
6. B2B / HRMS subscription and value-added services: Free lifetime HRMS (sumHR) for corporate clients acts as a hook; revenue is generated indirectly via locked-in salary-account relationships, 0% interest salary advances, and employee cross-sell into loans, insurance, and investments. Refer-a-company payouts also drive B2B leads.
7. Account maintenance and ancillary banking fees: Physical debit card one-time fee ₹299 + GST; annual maintenance ₹299 + GST; low-balance charges up to ₹300 + GST/month; flat 3.5% forex markup on international debit-card transactions (waived on certain account tiers).

Pricing tiers

Go-to-market motion5 records

Core offering

Jupiter is an Indian consumer neobank that delivers a unified mobile super-app bundling a digital savings/salary account (hosted by Federal Bank), UPI payments and bill recharges, three co-branded credit cards (Edge+ CSB RuPay, Edge CSB RuPay, Edge Federal Bank Visa), personal loans and loan-against-mutual-funds (via NBFC partners), mutual fund and 24K digital gold investing, fixed/recurring deposits, and an IRDAI-licensed insurance distribution stack. Its wholly owned subsidiary Amica Payment Services issues the RBI-authorised Jupiter Account Prepaid Payment Instrument, and Amica Finance operates as an RBI-registered NBFC for lending. The product is sold direct-to-consumer via the iOS/Android app and to corporate HR teams under the Jupiter for Teams brand.

Product overview

Jupiter Money (operated by Amica Financial Technologies Private Limited) is a single unified neobank "super-app" for the Indian market that bundles all personal finance capabilities into one product surface: a Federal Bank-hosted savings/salary/corporate-salary account stack, a UPI/bill-payments engine with Magic Spends automation, a card portfolio (Edge+ CSB RuPay, Edge CSB RuPay, Edge Federal Bank VISA), a personal-loan/Mini-Loan/LAMF credit stack, an investing stack (1,100+ Mutual Funds, DigiGold, Flexi FD, Recurring Deposits), an insurance distribution stack (Health Super Top-up, UPI Protect, Fraud Protect, Screen Protect, Salary Protect) sold under the IRDAI broker license, a Money module for insights/budgets/net worth, and a Jewels rewards/loyalty layer that ties every module together. The architecture is platform-plus-modules: a single account/KYC/onboarding core, with Payments, Credit Card, Loans, Invest, Insurance, Money tracking, and Rewards sitting as discrete feature modules on top. Acquired sumHR (HRMS) and EasyPlan (personal finance) extend the platform into B2B payroll and savings respectively. Banking and regulated activities are issued/facilitated by partner banks and NBFCs (Federal Bank, CSB Bank, Amica Finance, Kisetsu Saison Finance, Amica Investment Advisers, MMTC-PAMP, Pine Labs, Onsurity), and the wallet (Jupiter Account) is operated by subsidiary Amica Payment Services under RBI PPI authorisation.

Differentiator

Problem solved

Functional benefit

Brands

• Jupiter Money: The consumer-facing financial wellness app operated by Jupiter in India, offering savings, salary, payments, lending, investment, insurance and rewards products.
• Jupiter Edge (Edge Federal Bank VISA / Edge CSB Bank RuPay / Edge+ CSB Bank RuPay)
• Jupiter Pots
• Jupiter Rewards (Jewels)

Products and services

• All-in-1 Savings Account (Federal Bank-hosted)

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

AI capability7 records

Feature8 records

Scale indicators46 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• CRED: CRED is an Indian members-only fintech platform built around credit-card bill payments, rewards and premium lending products, serving an overlapping urban, affluent customer base with similar rewards-engine economics and co-branded credit-card distribution.
• Slice (by Plastic Bank): Slice is an Indian consumer neobank offering savings accounts, UPI, credit cards and personal loans via an RBI-registered NBFC, competing with Jupiter directly in app-first consumer banking and rewards-led card acquisition.
• Niyo: Niyo is an Indian digital-banking platform offering salary accounts, savings, payments and travel-focused forex cards through partner banks — closely comparable to Jupiter's partner-bank-led savings/salary account model.
• Fi (by epiFi): Fi is an Indian consumer neobank providing savings, UPI, mutual funds, lending and AI-driven money insights via partner banks — overlapping directly with Jupiter's super-app proposition for salaried millennials.
• FamPay: FamPay is an Indian teen-focused neobank offering UPI, virtual cards and parental-controlled spending accounts, competing with Jupiter for younger digitally-native Indian users and similar product-led growth mechanics.
• OneCard: OneCard is an Indian fintech offering metal co-branded credit cards with app-based rewards and EMI-led repayment, comparable to Jupiter's Edge/Edge+ RuPay credit card portfolio and rewards-led acquisition model.
• RazorpayX: RazorpayX is Razorpay's business-banking platform offering current accounts, payroll, payouts, and lending to Indian SMBs and startups, comparable to Jupiter for Teams on the corporate salary-account side.
• Open (Open Financial Technologies): Open is an Indian fintech platform providing business banking, payments, and credit APIs to SMBs and developers, comparable to Jupiter in delivering partner-bank-powered banking plus lending and automation.

Broad incumbents

• Paytm (One97 Communications): Paytm is India's largest listed consumer payments and financial-services super-app with payments, banking (Paytm Payments Bank), lending, insurance and wealth — a much broader incumbent that overlaps with Jupiter across payments, cards, lending and wealth distribution.
• Kotak Mahindra Bank (811 / Kotak Neo): Kotak's 811 digital account and Kotak Neo app offer full-stack digital savings, payments, cards and investments through a regulated private bank, representing the incumbent benchmark Jupiter competes against in mobile-first retail banking.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/TheJupiterApp
• YouTubeyoutube.com/@TheJupiterApp
• Facebookfacebook.com/Jupiter-App-110524370493863
• Instagraminstagram.com/thejupiterapp
• LinkedInlinkedin.com/company/jupiter-money

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries5 records

Funding overview

Funding rounds7 records

Investors23 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Jupiter