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