The Series A round follows a seed funding round where the startup had raised USD 4.5 million led by Akram Ventures in September 2021. It’s total funding to date is USD 36.5 million and is valued at USD 200 million.
The company will be using the funds to diversify its products, lending, and insurance offerings. Jar officials stated that they are solving for habit and behaviour among young Indians. They want millennials to look at investing as insurance for their future, and not treat it as an expense.
The startup focuses on removing the challenges of investing among average Indian citizens by enabling them to get started with micro amounts in gold. It gives its users an option to save as little as a few cents every time they transact on payment apps like Walmart and Paytm, which is then invested in real-time in digital gold.
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