Jar, an Indian fintech start-up backed by Tiger Global, has sturdily climbed the financial ladder, achieving cash flow positivity, according to a company executive. This promising development comes as the venture maintains a robust growth rate, catapulting to over 10 times its original size within the last year, according to investor communication.
This cash-positive turn mirrors a common trend as an increasing number of fast-paced Indian start-ups aim to enhance their financial health in preparation for IPO offerings.
Besides satisfying current customers with savings and investment services, Jar has broadened its portfolio by introducing lending modules and a flourishing online jewelry platform named ‘Nek’. It’s estimated that Nek generates a substantial revenue of approximately $13 million annually.
Adding icing to the cake, Jar is reportedly in negotiation stages for a substantial funding round estimated to be around the ballpark of $50 million, according to a report by the Indian newspaper Economic Times. However, representatives from Jar have chosen to remain mum on this subject at the current time.
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