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Tag: Jupiter Money

  • Jupiter enters insurance with IRDAI nod and mobile-first broker licence

    Jupiter enters insurance with IRDAI nod and mobile-first broker licence

    MUMBAI: From swipe to safeguard, Jupiter’s money app now offers peace of mind on tap. After cracking credit, prepaid, and savings, Jupiter Money is adding a whole new layer to its financial orbit protection. The fintech platform has received the Insurance Regulatory and Development Authority of India’s (IRDAI) approval to operate as a Direct Insurance Broker (Life & General), paving its way into the insurance segment with a decidedly digital twist.

    This approval marks a pivotal milestone in Jupiter’s transformation into a full-stack financial wellness ecosystem. Over the past year, Jupiter secured an NBFC licence and a PPI licence, fuelling its foray into credit and prepaid services. Now, with insurance in its basket, Jupiter is going all in on the promise of a 360-degree money experience.

    The insurance rollout will begin with curated offerings in term life and health partnering with top-tier insurers and later expand into smart, embedded options. Think: travel insurance triggered by credit card swipes, cyber fraud cover linked to digital transactions, or device protection tailored to e-commerce behaviour. All policies will be issued digitally and managed within the Jupiter app, ensuring zero paperwork and minimal jargon.

    “Insurance is a critical but overlooked layer in the financial stack especially among younger users,” said Jupiter Money president Rohit Kumar Pandey. “Our goal is to make insurance invisible and intuitive, not an intimidating chore.”

    Jupiter Money director of insurance & PPI Chinmay Jain added, “With the Broker licence in place, we’re embedding insurance into real life, not just into product tabs. This is about timing, awareness, and contextual value not just another menu item.”

    Jupiter, which boasts over three million users, sees this move as more than just product expansion. It’s a shift toward making insurance a seamless, proactive part of users’ everyday money behaviour turning a typically reactive category into one driven by life’s natural rhythms.

    As IRDAI nudges the industry towards higher digital penetration, Jupiter joins a growing band of fintechs rewriting the rules of insurance distribution mobile-first, moment-driven, and mindfully minimalist. And in Jupiter’s case, it’s not just about protection, it’s about simplifying the chaos of financial choices, one smart patch at a time.

  • Jupiter banks on experience with Akhilesh Jha in the driver’s seat

    Jupiter banks on experience with Akhilesh Jha in the driver’s seat

    MUMBAI: If money talks, Jupiter Money just made a power move by bringing banking veteran Akhilesh Jha into the conversation. In a strategic hire that signals its next phase of growth, Jupiter Money has appointed Akhilesh Jha as senior vice president for banking and partnerships. With over 20 years of experience in retail banking and digital strategy most recently as head of retail banking portfolio at DBS Bank Jha steps in to amplify Jupiter’s push toward becoming India’s go-to money platform.

    At a time when fintechs are rewriting the rules of personal finance, Jupiter’s move shows it’s doubling down on what it does best: combining digital ease with meaningful banking experiences. In his new role, Jha will lead the charge on deepening collaborations with banks and financial institutions, helping Jupiter scale its offerings across savings, credit, and payments.

    “We are building a platform that simplifies money for millions of Indians,” said Jupiter Money president, Rohit Kumar Pandey. “Akhilesh brings the perfect mix of legacy banking and fintech edge. As we grow, his insight will be vital in shaping impactful partnerships.”

    Jha echoed the sentiment, noting the “mutually beneficial ecosystem” that fintech-bank alliances can create. “Customers get intuitive, digital-first products; banks unlock new channels and revenues; and Jupiter becomes the bridge that makes it happen,” he said.

    The announcement comes at a time when Jupiter Money is riding strong tailwinds. In the last quarter alone, it secured key regulatory clearances, expanded its credit footprint, and maintained steady user growth. With an eye on Tier 2 and Tier 3 cities, the company is working to unlock financial access for underserved digital users.

    Jupiter’s product suite already includes an all-in-one savings account (powered by Federal Bank), a Rupay credit card with CSB Bank that integrates with UPI and offers cashback, and an upcoming prepaid wallet after receiving RBI nod. Jha’s appointment adds muscle to Jupiter’s ambition of turning its platform into a full-stack, digital-first banking experience, one that’s as easy as it is empowering.

    As Indian consumers grow savvier and seek smarter ways to manage their money, Jupiter Money’s latest leadership bet might just prove that experience is, in fact, the best investment.