Jupiter: India’s Leading ‘Customer-First’ Neobanking Startup

In this modern world, nobody wants to carry cash along with themselves anymore while going outside. Life has become quite easy for all of us now as no one has to really be afraid of thefts and other impending risks involving money. All thanks to the online banking system. In the past few years, several entrepreneurs have launched online platforms making the digital transactions easier for users.

Jupiter is one of the promising digital banking startups that is designed on the concept of neobanking. It offers a wide range of banking and account-related services such as unique savings pots, real-time spend breakdowns and insights, real-time monitoring of your finances and much more. Want to know the success story of Jupiter?

In this blog, we will discuss the journey of Jupiter’s success so far and how its founding team reached the new heights.

How Did It Begin? 

Before founding Jupiter, Jitendra Gupta had served as the Managing Director of Naspers-owned PayU for three years. When Jitender started his second phase of entrepreneurship in August 2019, he planned to launch “something large and impactful” as he missed out on it even after staying in the startup ecosystem for more than 10 years.

Therefore, he decided to leverage his finance and banking experience and came up with a disruptive idea of revolutionizing an age-old banking system. He wanted to provide a mobile-first experience to all the users in our country. Eventually, his idea of building a cost-effective and easy online banking platform for people was materialized in the form of Jupiter in 2019. The app provides insightful analysis based on your spending habits so that you can manage your finances well.

Growth Of Jupiter

The Mumbai-headquartered startup provides a wide range of digital retail banking services, allowing users to open and manage their bank accounts from their phones only. Jupiter also integrates unique facilities for its users to monitor their finances and real-time spending breakdowns. The platform is currently focussing on financial literacy of its consumers while simultaneously nurturing the interest in finance with their unique concept of showing money outflows and inflows. The beta app of Jupiter already attracts more than 1 lakh users who had signed up to the waitlist.

What Makes It Different From Others?

There is no denying in saying that big banks provide a plethora of services but they are largely either one-size-fits-all or expensive for retail customers. Also, most of the users in India actually don’t know how to utilize these array of financial services offered by their banks. However, Jupiter tackles these challenges in different ways.

Interestingly, anyone can view Jupiter’s current priority areas, suggest new features, and pass on constructive feedback to the team. Another factor which sets Jupiter apart from other platforms is its amazing approach to deal with customer goals. Unlike a bank, where the activity of savings is not linked to outcomes, Jupiter helps its customers to meet their financial goals. Customer service is one area where Jitender Gupta believes Jupiter performed well.