Jupiter has received Rs 100 crore venture debt from Alteria Capita to build lending products.
The transaction, the first of its kind in the space, and one of the largest committed by Alteria till date, will further solidify Jupiter’s market leading position across the broader Indian financial services space, while also leveraging synergies across the Jupiter group.
“We are delighted to join hands with Alteria Capital who are also aligned on our mission to democratise credit in India and encouraging responsible use of the same. This partnership will act as a catalyst to our efforts of building an all-inclusive and innovative platform. For cutting-edge financial services products. As we enter the new year, we at Jupiter look forward to providing accessible and affordable credit options to our customers, thereby creating a healthy credit growth in the country,” Jitendra Gupta, Founder & CEO, Jupiter, said
“Jupiter is a very strong brand in the personal finance app space for Indian consumers. Providing customised and agile credit products is going to be an important differentiator and Jupiter is well placed to target this opportunity. This is one of the largest commitments for Alteria and we are excited to partner with Jiten and the team at Jupiter to help facilitate their credit journey and make a meaningful impact in the Indian retail credit ecosystem,” Vinod Murali, Managing Partner & Co-Founder, Alteria Capital, said.