Jupiter Launches Magic Spend to Enable Auto-investing in Mutual Funds

With the launch of Magic Spends, FinTech business Jupiter Money has introduced a new method of spending. Every time a consumer uses Magic Spends, they can have their money automatically invested in mutual funds or digital gold.

With the Jupiter app, Magic Spends is compatible with UPI and Debit Cards connected to Federal Bank accounts.

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To begin using Magic Spends, users must first establish a monthly goal maximum and a custom investment amount (minimum of Rs. 10). Investors are always free to stop, stop, or redeem their investments.

The investments made using Magic Spends are redeemable, pauseable, and cancelable at any moment.

Apurv Narang, Director of Marketing, Jupiter, said: "We are not competing with stocks, bitcoin, or real estate investments. We are competing with online food ordering, shopping, and traveling that burn a hole in our savings"

About Jupiter

Founded in 2015 by Jitendra Gupta, Jupiter is a one-stop money app that has been focused on developing a credit offering.

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