Question
Neobanking startup ______ has secured a non-banking
finance company (NBFC) license from the Reserve Bank of India (RBI) to capitalize the lending business with around Rs 100 crore and raise an additional Rs 100 crore in debt to fund the NBFCs credit operations.Solution
Neobanking startup Jupiter has secured a non-banking finance company (NBFC) licence from the Reserve Bank of India (RBI). Sequoia and Tiger Global backed-Jupiter intends to capitalise the lending business with around Rs 100 crore and raise an additional Rs 100 crore in debt to fund the NBFC’s credit operations. It aims to hit annual disbursements of Rs 600-700 crore in short- and medium-term personal loans.
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