Bengaluru based fintech startup Jar is in advanced discussions to raise over $100 million in a fresh funding round led by WestBridge Capital, according to multiple sources familiar with the matter. The proposed round is expected to value the company between $500 million and $550 million, marking a significant step up from its previous valuation.
Sources indicated that Kotak Investment Banking has been appointed as the banker for the transaction, and the deal could be finalised within the next four to six weeks, subject to customary conditions. Queries sent to Jar and WestBridge remained unanswered at the time of publishing.
The fundraising talks come on the back of strong financial momentum. In FY25, Jar reported ₹208 crore in operating revenue and achieved profitability in the second half of the fiscal year, posting profits for two consecutive quarters. The development places Jar among a small set of Indian consumer fintech startups that have demonstrated early profitability at scale.
Founded in 2021 by Nishchay AG and Misbah Ashraf, Jar operates a micro-savings platform that enables users to automatically invest spare change into digital gold via UPI. The company claims over 35 million registered users across 12,000+ pin codes, with a significant portion comprising first-time savers from Tier II and Tier III markets.
Over the past year, Jar has diversified its offerings beyond digital gold. It launched a jewellery brand, Nek, and entered the insurance distribution space, signalling ambitions to build a broader personal finance ecosystem.
Jar last raised $22.6 million in a Series B round in August 2022, led by Tiger Global, at a valuation of over $300 million. Its existing investor base includes Arkam Ventures, Tribe Capital, and WEH Ventures.
If concluded, the round would underscore renewed investor confidence in profitable, consumer focused fintech models, even as venture funding remains selective.
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