Jar in Talks to Raise $100 Million Led by WestBridge
- Jar is planning to raise around $100 million in a new funding round, with the company likely to be valued between $500 million and $550 million
- The fintech achieved profitability in the second half of FY25, reporting profits in two consecutive quarters after strong revenue growth
- The funding round is being led by WestBridge, with Kotak Investment Banking appointed as the banker to manage the transaction
Bengaluru-based fintech startup Jar is in advanced talks to raise more than $100 million in a fresh funding round led by WestBridge, according to people familiar with the matter. The deal could value the company between $500 million and $550 million.
Sources said discussions have progressed steadily over the past few months. Jar has already received a term sheet, and Kotak Investment Banking has been appointed to manage the transaction. If negotiations stay on track, the round may close within the next four to six weeks.
The proposed raise follows a strong financial year for Jar. In FY25, the company reported Rs 208 crore in operating revenue. More importantly, it turned profitable in the second half of the year and posted profits for two consecutive quarters, marking a key milestone in its growth journey.
Founded in 2021 by Nishchay AG and Misbah Ashraf, Jar runs a micro-savings platform that helps users invest spare change into digital gold through UPI-based transactions. The startup says it has over 35 million registered users spread across 12,000+ pin codes, with a large base of first-time savers.
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Over the past year, Jar has expanded beyond digital gold. It entered the jewelry segment through its brand Nek and also moved into insurance distribution, signaling a broader push into consumer financial services.
Jar has raised several funding rounds since inception. In August 2022, it secured $22.6 million in a Series B round led by Tiger Global, valuing the company at over $300 million. Other investors include Arkam Ventures, Tribe Capital, and WEH Ventures.
