The transaction will further solidify Jupiter’s market leading position across the broader Indian financial services space, while also leveraging synergies across the Jupiter group, the company said.
“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,’ said Jitendra Gupta, Founder & CEO, Jupiter.
With the start of 2023, Jupiter looks forward to providing accessible and affordable credit options to its customers, thereby creating a healthy credit growth in the country, he added.
According to Vinod Murali, Managing Partner & Co-Founder, Alteria Capital, Jupiter is a very strong brand in the personal finance app space for Indian consumers. He believes that 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,” he said.
The three year-old company prepares to roll out multiple innovative investments and credit-focused products designed to broaden the Indian consumers’ basket of financial offerings in 2023, the press note added.