Jupiter, a new-age Neobanking platform has lifted deliberated funding from its current investors for its NBFC – Non banking financial biz. This is the initial equity round for its separated entity Amica Finance.

As per the regulatory filings of the company, Amica Finance’s board has issued a special resolution to distribute 97,89,529 Series A CCPS - compulsory convertible preferred shares at an issue price of Rs.20.43 per share to elevate Rs.20 crore or $2.4 million.

This funding round led by Peak XV Partners with an investment of Rs. 5.25 crore trailed by QED Fund and Matrix partners with an investment of Rs.4.32 crore and Rs.3.58 crore respectively. BEENEXT – BEE Accelerate Fund, Tiger Global, Glaobal Founders Capital, Greyhound Capital Partners, Bairavan Amrish Rau and Mirae Asset Venture Investments has filled the residual capital.

In the month of April previous year, the Jitendra Gupta-directed company gotten a Reserve Bank of India’s NBFC license which it is doing finance on its own funding book. According to the official report from media, the company also designate a new Chief executive officer – CEO to lead the financing business.

According to the startup intelligence platform TheKredible, the firm has lifted fresh funding at the post capital valuation of nearly Rs.100 crore (approximately $12 million).

Next to the investment phase, the founder and CEO of Jupiter Jitendra Gupta decreased his stake to 76.15 percent meanwhile Peak XV Partners became the greatest external stakeholder with 6.24 percent stake.