Jar Revenue, Valuation, Funding & Investors
Jar is valued at $300M as of August 2022, a 1.1x multiple on its last reported $262M revenue.
Last Jar valuation
$300M
Series B · Aug 2022
Last Jar funding round
$23M
Series B · Aug 2022
Jar revenue
$262M
Series B · Aug 2022
Key investors in Jar
Tiger Global
Tribe Capital
WEH Ventures
Upsparks
Arkam Ventures
Folius Ventures
About Jar
Jar is a Bengaluru-based fintech app that rounds up online purchases and invests spare change in 24-karat digital gold stored in secure vaults. Users hold ₹100 crore in assets as of 2023, with instant redemptions via UPI. Founded in 2021, it partners with MMTC-PAMP for gold backing and SafeGold for custody.
Founded
2021
HQ
BangaloreWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Product sales
Revenue
$262M (Aug 2022)
Valuation
$300M (Aug 2022)
Jar Valuation
Jar is currently valued at $300M, based on its Series B in August 2022.
The $23M round was led by Tiger Global.
Jar's valuation has grown 1.5x from $200M at its Series A in February 2022 to $300M in August 2022, across 3 priced rounds.
Jar valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Aug 2022 | Series B | $300M | 1.1x |
| May 2022 | Series B | $350M | 1.3x |
| Feb 2022 | Series A | $200M | - |
Jar Revenue
Jar's latest recorded revenue is $262M, as of its Series B in August 2022. At a $300M valuation, that implies a 1.1x revenue multiple.
Revenue moved from $262M in May 2022 to $262M in August 2022, while the revenue multiple moved from 1.3x to 1.1x.
Jar revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Aug 2022 | $262M | $300M | 1.1x | Series B |
| May 2022 | $262M | $350M | 1.3x | Series B |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Jar Funding History
Jar has raised a total of $112M across 5 funding rounds.
Jar's first fundraising round was a $5M seed round in August 2021. The most recent completed round was a $23M Series B in August 2022.
Jar funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2022 | Series B | Tiger Global (lead) | $23M | $300M | Jar is an Indian fintech startup founded in January 2021 by Nischay AG and Misbah Ashraf, offering a mobile app that enables users to invest spare change in digital gold starting from INR 1, integrated with Paytm for recurring payments. The app targets young earners in India for easy savings and investments, initially focusing on digital gold before expanding into mutual funds, insurance, and lending. It has gained significant traction with over 9 million users and 220,000 daily transactions by August 2022, achieving 20% monthly growth and user acquisition costs under $1.5 per user. On August 18, 2022, Jar raised $22.6 million in a Series B round led by Tiger Global, with participation from Arkam Ventures, Eximius Ventures, Force Ventures, LetsVenture, Rocketship Venture Capital, WEH Ventures, and new investors including 1Finance, Capier Investments, Cloud Capital, Folius Ventures, Panthera Capital, Prophetic Ventures, Yes VC, Adam Nash, and Zachary Hargreaves. The post-money valuation reached $300 million, up from $200 million after its February 2022 Series A round of $32 million also led by Tiger Global. Aggregate funding to date stood at around $59 million post-Series B. Funds from the round are earmarked for platform development, workforce expansion, and introducing new asset classes. Tiger Global partner Alex Cook highlighted Jar's rapid growth and trust built through digital gold, expressing excitement for expansion. This round followed earlier raises, including seed funding, amid a funding winter, with Jar positioning itself to serve 300 million UPI-savvy Indians aged 21-35 for small-ticket investments without complex KYC. |
| Jul 2022 | Series A | Upsparks (lead) | $3M | - | Jar is an Indian fintech company offering a savings and digital gold investment platform. In July 2022, it raised INR 205 million (approximately $2.6 million) in a Series A-II round led by Upsparks to enhance the platform and expand market reach. This followed a Series A round in February 2022 where Jar raised $32 million at a $200 million valuation led by Tiger Global Management. A subsequent Series B round occurred in August 2022 for $22.6 million. |
| May 2022 | Series B | Tiger Global (lead); Paramark Ventures; Folius Ventures | $50M | $350M | Jar is a Bengaluru-based Indian fintech startup launched in 2021 that operates a savings and investment app focused on helping millions of users build daily savings habits by rounding up transaction amounts and investing the spare change in digital gold, backed by physical gold for liquidity. The app targets India's vast population with bank accounts but low investment participation, starting with familiar gold investments before expanding to insurance, mutual funds, and lending. In late May 2022, Jar was in advanced talks for a $50 million Series B funding round led by existing investor Tiger Global, with participation from Folius Ventures and Paramark Ventures, at a post-money valuation of $350 million, as reported by sources familiar with the discussions. This followed a $32 million Series A in February 2022 led by Tiger Global at around $200 million valuation and a $4.5 million seed round. The funding aimed to scale products, expand offerings, and grow the user base, which stood at over 7.5 million registered users disclosed to investors around that time. The precise $50 million round at $350 million matching the May 27, 2022 details did not fully close as initially planned; instead, Jar announced a $22.6 million Series B tranche in August 2022 led by Tiger Global with similar investors including Folius Ventures, valuing the company at over $300 million and extending runway by three years for product development and hiring. Jar had raised over $58 million total by then, positioning it in India's competitive fintech landscape against legacy banks and funds struggling to reach mass-market savers beyond 30 million individuals. Jar emphasized user acquisition traction, reaching 10 million users by August 2022, amid a fintech boom in India tapping the underbanked and underinvested population. |
| Feb 2022 | Series A | Tiger Global (lead) | $32M | $200M | Jar is a Bengaluru-based fintech startup that helps Indians build daily savings and investment habits through its mobile app. The platform rounds up users' spending and automatically invests small amounts in digital gold, which is backed by physical gold that users can withdraw or liquidate at any time. The app launched in June 2021 and quickly gained traction in the Indian market, where nearly a billion people have bank accounts but have never made investments. In February 2022, Jar raised $32 million in a Series A funding round led by Tiger Global, valuing the company at $200 million. The round also included participation from numerous investors including Rocketship.vc, Third Prime, Stonks, Force Ventures, Arkam Ventures, and WEH Ventures, alongside angel investors including Klarna founder Victor Jacobsson, Suleman Ali of Ali Capital, and others. The company reported 100+ transactions per minute on its platform at the time of the Series A round, demonstrating rapid user adoption and engagement. Jar later raised an additional $22.6 million in a Series B round at a $300 million valuation, led again by Tiger Global. By FY24 (ended March 2024), the company had achieved Rs 56.4 crore in consolidated revenue, representing 278% year-on-year growth, with plans to expand into lending, insurance, and other financial products beyond gold investments. |
| Aug 2021 | Seed | Arkam Ventures (lead); Tribe Capital (lead); WEH Ventures (lead) | $5M | - | Jar is an Indian fintech startup founded in January 2021 by Nishchay Ag and Misbah Ashraf, offering a mobile app for digital gold savings with investments as small as INR 1. The platform integrates with Paytm for recurring payments using UPI 2.0 and targets millennials for easy, small-ticket gold investments. In August 2021, Jar raised a $4.5 million seed round led by Arkam Ventures, Tribe Capital, and WEH Ventures, along with angels like Kunal Shah of CRED. The funding aimed to establish operations and develop the digital gold-saving platform. At the time, Jar reported transactions and AUM growing 350% monthly and planned to expand investment offerings. |
Who has invested in Jar?
7 investors have backed Jar across its funding rounds, including Tiger Global, Tribe Capital, WEH Ventures, Upsparks, Arkam Ventures and Folius Ventures.
Lead investors include Tiger Global, Upsparks, Arkam Ventures, Tribe Capital and WEH Ventures.
Jar Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 New York City, NY | 3 | Lead | Feb 2022 | |
| Mumbai | 1 | Lead | Aug 2021 | |
| Bangalore | 1 | Lead | Jul 2022 | |
| San Francisco, CA | 1 | Lead | Aug 2021 | |
| Bangalore | 1 | Lead | Aug 2021 | |
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Start Free TrialJar Competitors
Jar competitors include listed companies like Wealthfront and Bourse Direct, and private ones like Mintos, Credit Sesame, Touzhijia.com and Wahed.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Riga | Private | $13M | - | $136M | 10.5x | |
| San Francisco, CA | Private | - | - | $1B | - | |
 Shenzhen | Private | - | - | $1B | - | |
| United States | Publicly listed | $365M | ($93M) | $1.6B | 4.2x | |
| New York City, NY | Private | - | - | $300M | - | |
 France | Publicly listed | $81M | $35M | $314M | 1.3x |
Jar Public Comps
Jar is still privately-owned, but its public comps include Blend Labs, Bourse Direct, Profile Software, Younited, TROOPS, Net Protections Holdings, LendingTree, Better Home & Finance, Oportun and loanDepot.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $124M | $3M | 3.5x | 3.4x | 147.5x | 24.7x | |||
| $81M | $35M | 1.5x | 1.3x | 3.4x | 3.2x | |||
| $55M | $15M | 4.8x | - | 17.8x | - | |||
| $113M | $10M | 2.2x | 1.5x | 25.9x | 6.6x | |||
| $17M | ($27M) | 15.1x | - | (9.5x) | - | |||
| $162M | $30M | 1.0x | 1.0x | 5.5x | 5.1x | |||
| $1.1B | $89M | 0.6x | 0.6x | 7.7x | 4.8x | |||
| $207M | ($152M) | 3.8x | 4.0x | (5.2x) | (11.1x) | |||
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Common questions about Jar
| When was Jar founded? | Jar was founded in 2021. |
| Where is Jar headquartered? | Jar is headquartered in Bangalore, India. |
| Is Jar publicly listed? | No, Jar is a private, VC-backed company. |
| What is Jar's valuation? | Jar was last valued at $300M in its Series B in August 2022. |
| How much funding has Jar raised? | Jar has raised $112M across 5 funding rounds. |
| What was Jar's last funding round? | Jar's last funding round was a $23M Series B in August 2022, led by Tiger Global. |
| Who are Jar's investors? | Jar's investors include Tiger Global, WEH Ventures, Upsparks, Tribe Capital, Arkam Ventures, Paramark Ventures and Folius Ventures. |
| What is Jar's revenue? | Jar's latest recorded revenue is $262M (August 2022). |
| What is Jar's revenue multiple? | Jar's latest valuation implies a 1.1x revenue multiple ($300M valuation on $262M of revenue). |
| Which companies are comparable to Jar? | Companies comparable to Jar include Mintos, Credit Sesame, Touzhijia.com, Wealthfront, Wahed and Bourse Direct. |
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