Jar clocks Rs 208 Cr operating revenue in FY25, turns profitable in H2

Savings app Jar has reported strong growth in FY25, and touched the operating revenue of Rs 208 crore during the fiscal year ending March 2025, according to the press release. 

The surge in scale came after the company vertically integrated its gold stack which pushed its gross revenue to Rs 2,450 crore during the period.  

Vertical integration here implies that instead of only serving as a middleman by routing user savings into gold through external partners, the company now owns and operates several stages of the gold value chain itself.

The Bengaluru-based startup also reduced its net losses (excluding ESOP costs) to Rs 35.23 crore. Importantly, Jar turned fully profitable in the last two consecutive quarters from January to March 2025 and April to June 2025 (June figures are unaudited).

Founded in 2021 by Nishchay AG and Misbah Ashraf, Jar has built a base of over 35 million registered users across 12,000 pin codes. As per the press release, more than 95% of its users are first-time savers. 

The platform leverages UPI Autopay to automate daily or weekly savings, with users able to start with as little as Rs 10 a day. In May this year, Jar entered the UPI Third-Party Application Provider (TPAP) services in collaboration with BharatPe as the Technology Service Provider (TSP) and Unity Small Finance Bank as the Payment Service Provider (PSP). 

According to the National Payments Corporation of India (NPCI) website, Jar will use the UPI handle @jarunity. Beyond digital gold, Jar has also expanded into jewellery through its vertical Nek and forayed into insurance offerings.

According to the startup intelligence platform TheKredible, Jar has raised over $60 million to date, with a valuation of approximately $325 million. Jar counts Tiger Global, Arkam Ventures, Tribe Capital, and WEH Ventures among its backers.