Jupiter Soonicorn

Jupiter offers a single money management app with credit cards, savings accounts, investments, loans, insurance, prepaid instruments, and other finance products.

Jupiter offers a platform for a variety of financial services which include the ability to pay using credit over UPI, a feature first offered in the market by Jupiter, a portfolio analyzer, savings products, debit cards, expense categorisation, monitoring insurance coverage and credit scores, and more.

Jupiter will provide savings account, investments and lending services to the salaried millennial population with an income demographic of Rs 50,000 and upwards.

The company claims to have over 3 million customers, of which 60% are active on the platform. Around 25% of active users use two or more products.

Download the Jupiter app on iOS or Android. Join 30 Lakh+ Indians managing their money better everyday.

Federal Bank is the company's key banking partner along with NPCI and Visa.

Its co-branded credit card with CSB Bank has issued over 150,000 cards, with users making an average of 24 transactions per month.

The company operates with regulatory approvals from RBI, SEBI, and IRDAI for its services.

Jupiter's NBFC division reported a revenue of Rs 15.4 crore, primarily from interest income and processing fees related to loan disbursements.

In FY23, its revenue from sale of services stood at INR 5.3 Cr, while other operating revenue, including collaboration and subscription fees, stood at INR 1.8 Cr.

Employee costs grew 23% to INR 194.62 Cr in FY24 from INR 158.49 Cr in the previous fiscal year.

Advertising & Promotional Expenses: Spending under the head declined 49% to INR 38.07 Cr from INR 74.51 Cr in FY23.