The Mumbai-based startup helps younger Indians save in a easy, low-risk approach and was a part of Y-Combinator’s 2020 batch, Gupta mentioned. He didn’t disclose the dimensions of the acquisition.
That is the second acquisition by Gupta’s Jupiter after it acquired Mitter.io in 2019.
Based on Gupta, the acquisition will permit Jupiter to increase its buyer base, and improve its saving and funding capabilities. “They’ve joined us already, together with the founders. Easyplan will proceed to function as an unbiased app inside the Jupiter universe,” Gupta instructed ET.
Began by Harvard graduates Manisha Pandita and Sanjay Gandhi, Easyplan has added over 250,000 customers—most of them younger and smartphone-savvy customers. It was a part of the inaugural batch of the Bharat Inclusion Initiative’s Monetary Inclusion Lab in 2019, and later acquired chosen by the storied Silicon Valley accelerator Y-Combinator.
“We had been impressed with the shopper love that Easyplan has generated. And there was lots of overlap between our missions and philosophy to drive monetary wellness,” Gupta mentioned. “At Jupiter, we’re making an attempt to assist individuals construct a extra optimistic relationship with cash, and efficient saving is a vital a part of that. We’re excited for Sanjay and Manisha to convey the identical buyer perception and expertise excellence to Jupiter.”
Began in 2019, Jupiter just lately launched its Firstlist programme and onboarded greater than 40,000 customers inside the first three weeks. It’s nonetheless not rolled out to everybody.
Gupta, who was managing director at PayU after Citrus Pay was acquired by the
unit of Prosus (previously Naspers), has raised greater than $25 million in seed funding from Sequoia Capital, Matrix Companions, 3One4 Capital, Tanglin Enterprise Companions and different notable traders. It’s engaged on a bouquet of merchandise to drive monetary wellness for customers and assist them obtain their monetary objectives.
Based on Pandita, at Easyplan, she noticed how constructing easy experiences round conventional monetary merchandise may also help clients obtain their objectives higher.
“We sit up for doing that on a bigger scale with Jupiter. Jiten is likely one of the most revered tech founders in India, and we’re wanting ahead to working with him,” she mentioned.
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