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Home ยป Fintech Jupiter in talks to buy stake in SBM Bank India
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Fintech Jupiter in talks to buy stake in SBM Bank India

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In the latest example of an Indian fintech startup seek strategic partnerships Along with traditional banking institutions, neobank Jupiter is in talks to acquire a stake in SBM Bank India, three sources familiar with the matter told TechCrunch.

Jupiter, backed by Tiger Global and Nubankis in talks to buy a 5% to 9.9% stake in SBM India, the local arm of SBM Bank, the sources said.

The deal has not yet been finalised and will require approval from India’s central bank, the Reserve Bank of India (RBI), the sources added.

The discussions are part of a broader trend among Indian fintech startups and venture capital firms looking to connect with lenders in the South Asian market. received RBI approval to merge with North East Small Finance Bank last year, in a move that Slice said would allow it to “serve a broader audience, including those often overlooked.”

Venture capital firms Lightspeed and Sorin recently invested in Shivalik Small Finance Bank, following investments in the lender by Accel and Quona. TechCrunch previously reported that Lightspeed was in talks to support the lender.

Premji Invest, Multiples, Zerodha, Gaja Capital and MobiKwik were among those evaluating an investment in Nainital Banka subsidiary of Bank of Baroda.

Jupiter and SBM India did not immediately respond to requests for comment.

Jupiter is partnering with Federal Bank to offer its Indian customers modernized financial services. However, the adoption of these neobanks in India lags behind other markets, such as Brazil, where they have gained traction faster.

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Finch B2B Fintech Qonto acquires 600,000 customers and applies for a banking license.

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Finch B2B Fintech Qonto acquires 600,000 customers and applies for a banking license.

July 4, 2025

Kenneth PAQValen appointed as financial director at Napier

July 4, 2025

Nigerian Fintech Gombo ceases operations as co-founder Fara Ashiru transitions to a UK base.

July 3, 2025
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