Wealthtech Startup Jar Claims Profitability In H1 2025

Wealthtech startup Jar said it was profitable in the first two quarters of 2025 (Q4 FY25 and Q1 FY26) on the back of strong business growth.

The startup, which helps users make microinvestments in digital gold, also said that it managed to reduce its loss before ESOP expenses by over 50% to INR 35.3 Cr in the financial year ended March 2025. Notably, Jar had posted a net loss of INR 104 Cr in FY24.

In a statement, the fintech startup said its revenue soared multifold to INR 208 Cr in FY25 from INR 49 Cr in the previous fiscal on the back of its foray into the ecommerce jewellery segment. It is pertinent to mention that Jar booked the gross value of gold sold to customers as revenue in FY25 as it became a principal from an intermediary in the past fiscal year.

Founded by Nishchay AG and Misbah Ashraf in 2021, Jar operates a mobile-based app which allows users to invest as little as INR 10 in digital gold. It claims to serve more than 35 Mn users across 12,000 pin codes. Jar uses UPI Autopay to deduct a fixed amount from users’ accounts to add in their savings.

Last year, the Tiger Global-backed startup entered the D2C jewellery space under the brand ‘Nek’. The platform offers a wide range of gold and silver jewellery products, including rings, neckwear, earrings, coins, and more.

“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 in funding to date from investors like Arkam Ventures, WEH Ventures, Tribe Capital, among others. Jar last raised $22 Mn in its Series B funding round at a post-money valuation of $300 Mn. 

Earlier this year, it was reported that the startup was in talks with investors, led by Prosus, to raise nearly $50 Mn in a fresh funding round. However, the deal fell through over differences in valuation. While Jar was aiming to raise money at its last valuation of $300 Mn, the potential investors pegged the startup at $200 Mn to $250 Mn.

Now, Jar is eyeing a public listing next year, TechCrunch reported, citing sources. It is said to be in talks with investment bankers for its potential IPO.