Entrepreneur with USD130m financial technology exit, starts next financial technology venture

May 3, 2020 | Finance | Private

Jitendra Gupta was the Cofounder of Citrus Payments, which was acquired by PayU for USD130m in 2016.

In 2019, Jitendra started his latest financial technology venture called Amica Financial Technologies.

What is Jitendra Gupta’s track record?

Citrus Payments is a financial technology company that was founded in 2011 by a group of software, UX, and finance professionals who saw space for true simplification & innovation in the world of payments. It provides consumer payments and mobile banking services.

What does Amica do?

Amica Financial Technologies will provide banking services such as savings account, investment and lending services, among others and will act as a neobank which is expected to roll out its operations by February or March 2020.

How have investors validated Jitendra Gupta’s new venture?

Amica has raised USD24m from top tier VC’s like Sequoia at a USD70m valuation.

Also, Cred’s (India’s hottest fintech startup) co-founder, successful entrepreneur Kunal Shah, has also invested, along with other successful Indian entrepreneurs.

There seems to be an Indian PayPal Mafia like group starting and investing in one another’s companies alongside global top-tier VCs.

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