Wealthtech startup Jar reported profitability in the first two quarters of 2025 (Q4 FY25 and Q1 FY26), driven by robust business growth.
The mobile-based fintech company, which enables users to make microinvestments in digital gold, also reduced its loss before ESOP expenses by over 50%, bringing it down to INR 35.3 Cr in the financial year ending March 2025. By comparison, Jar had posted a net loss of INR 104 Cr in FY24.
According to the wealthtech startup, its revenue surged to INR 208 Cr in FY25 from INR 49 Cr in the previous fiscal year, fueled by its entry into the ecommerce jewellery segment. Moreover, the company claimed that its total revenue skyrocketed nearly 43 times year-on-year to INR 2,450 Cr in FY25. However, it is important to note that Jar booked the gross value of gold sold to customers as revenue in FY25 after transitioning from an intermediary to a principal role in the previous fiscal.
Founded in 2021 by Nishchay AG and Misbah Ashraf, Jar allows users to invest as little as INR 10 in digital gold through its mobile app. The startup currently serves more than 35 million users across 12,000 pin codes, leveraging UPI Autopay to deduct a fixed amount from users’ accounts to add to their savings.
Last year, Tiger Global-backed Jar expanded into the D2C jewellery space under the brand ‘Nek’, offering a variety of gold and silver products including rings, earrings, neckwear, and coins.
“Gold remains the primary savings instrument across India, and our platform reflects that reality. The fact that most of our users have never saved before suggests there are many more who could benefit from this approach,” Nishchay said.
The Bengaluru-based startup has raised over $111 Mn to date from investors such as Arkam Ventures, WEH Ventures, and Tribe Capital. Jar’s last funding was a $22 Mn Series B round, giving it a post-money valuation of $300 Mn.
Earlier this year, Jar was reportedly in talks with investors led by Prosus to raise nearly $50 Mn, but the deal fell through due to valuation differences. While Jar sought funding at its last valuation of $300 Mn, potential investors valued the company between $200 Mn and $250 Mn.
Looking ahead, Jar is planning a public listing next year, and sources indicate the startup is in discussions with investment bankers for a potential IPO.
