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Havish Gupta
Figuring Outย โขย 1y
How Jar Became a $300 Million Company by Helping People Invest Pocket Change So it all started when Nishchay and Misbah noticed that people often ignored small amounts left over from transactions. They found out that even small amounts can result in meaningful savings over time. โWhat if we could make saving as effortless as spending?โ they wondered. And this question became the foundation of Jar. Thus, in 2021, Jar was launched with a simple concept: round off every expense to the nearest โน10 and invest the difference in digital gold. For eg, if you bought something for โน243, it would round it off to โน250 and invest โน7 in gold. Thus, they raised $4.5 million in seed funding and started Jar. And this simple idea resulted in massive growth!! FY22: 6 million users, FY23: 14 million users and FY24: 20 million users. This massive growth led them to raise $116 million and expand. But They didnโt stop there. They also expanded by offering manual SIPs along with p2p lending. Today, Jar is valued at $300 million after raising $22.6 million in its Series B funding from Tiger Global. But even with this massive growth, their revenue stands at โน49 crore with a โน103 crore loss, resulting in a 51x val/rev ratio. Did you ever use it?
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