Brazil's Nubank leads investment in the Indian neobank
In Brief:
The new financing round, a Series B, was co-led by Nubank with Global Founders Capital, Sequoia Capital and Matrix Partners India.
Mirae Assets Venture also joining.
The new round values the two-year-old Indian startup, which has raised $70 million to date, at over $300 million.
The Bangalore and Mumbai-based startup is set for public launch in the coming months.
What does this mean?
Both Brazil and India offer huge potential markets for new digitally-led banking services. Nubank believes its experience can help Jupiter reach and exceed its potential. Though still in Beta, Jupiter already has a waiting list of 100,000 potential customers.
