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CosmicTaco
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Grapevine

Fintech Jupiter Eyes Stake in SBM Bank India

  • Neobank Jupiter is in talks to acquire a 5% to 9.9% stake in SBM Bank India, sources reveal.
  • Backed by Tiger Global and NuBank, Jupiter's move requires approval from the Reserve Bank of India.
  • This trend follows Indian fintechs and VCs seeking partnerships with traditional lenders.
  • Recent similar moves include Slice merging with North East Small Finance Bank and VC investments in Shivalik Small Finance Bank.
  • Jupiter's adoption in India lags behind markets like Brazil, despite partnerships with Federal Bank.

Source: Techcrunch

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