Private Equity

Liquidity Events

Neo-bank Jupiter acquires Y Combinator backed savings app Easyplan

Inc42  

Neobanking startup Jupiter has acquired a savings app, Easyplan, which helps young Indians save in a simple, low-risk manner. It was part of Y Combinator's 2020 batch. Easyplan claims to have over 250,000 users. Post acquisition, Easyplan will join Jupiter but will continue to operate as an independent app. The acquisition allows Jupiter to expand its customer base, and enhance its saving and investment capabilities. Founded by serial entrepreneur Jitendra Gupta, who was previously the founder of Citrus Pay (acquired by PayU in 2017), and launched Lazypay, Jupiter has raised over USD 25 million from Sequoia Capital, MatrixPartners, 3One4 Capital, Tanglin Venture Partners and others. This deal marks the second acquisition for Jupiter. It acquired Mitter.io in 2019.