With the ever-evolving arena of the investment industry, every facet of it is revolutionizing. Be it investing in real estates, gaming industry, stocks, etc. So how can we forget about investing in gold digitally? The one app that is coming at the forefront of investing in digital gold and helping in savings is Jar, emerging as a prominent player. Let’s explore through the layers of Jar Funding, Valuation & the key shareholders who invested in the company.
A startup that is on its way to change the face of investing in gold digitally. The one of a kind app, that uses spare change from your daily online payments or transactions and automatically invests it in digital gold. The first made Indian app of its kind.
Note: To know more about the company profile of Jar App, visit our full detailed article Jar Business Model, to gain more insights of it.
Jar Funding Overview
Within just 2 years of its inception, Jar app has successfully captured the attention of substantial investors. These funding rounds have not only helped the company financially but also has helped the company to rise in the online investment sphere.
Let’s look at the funding tiles of Jar App!
|YEAR||SERIES ROUND & INVESTORS||MONEY GROWTH|
|August 31, 2021||Seed Round – invested by Akram Ventures, |
Tribe Capital, & WEH Ventures
|February 3, 2022||Series A – invested by Tiger Global Management||$32 million|
|June 2, 2022||Series B – invested Tiger Global Management||$50 million|
|July 21, 2022||Series A – investors (undisclosed)||205 million|
|August 18, 2022||Series B – invested by Tiger Global Management||$22.6 million|
As a total figure, Jar has raised $111.7 million in its funding rounds. Jar app reported its latest funding round on August 18, 2022, and raised $22.6 million in it, around 26 investors participated in its latest funding round, which was headed by Tiger Global Management.
The recent investors of Jar app are Adam Nash & Prophetic Ventures. As the funding rounds of Jar app continue in future, the company is leading to secure more growth and to establish more innovations on its platform to provide seamless use of its app.
Jar App: Valuation Insights
As we can see, Jar app has raised a good amount of money through its funding rounds till now, unlocking its path towards the growth and success of the company. As of latest, January 2023, the company has raised a total of $305 million in valuation post its funding rounds.
- The app currently has 1.5 crore+ users.
- The app is backed by trusted gold service providers like SafeGold, Brinks, etc.
- App claims to be a 100% secure platform for savings and investing in digital gold.
- The app comes with the ‘Daily Amount’ setting limit option. By clicking on this option, you can set your amount you want to invest daily. For example, it can be Rs.10 or Rs.2000, and the same amount will be deducted from your savings and will be invested in digital gold.
- Jar app is India’s first app that automatically helps you save and invest in digital gold through spare change at the same time.
- The latest funding round was led by Tiger Global Management, and raised $22,.6 million.
- The notable partners who took part in funding were – Akram Ventures, Eximus Ventures, RockestShip Ventures, LetsVentures, WEH ventures.
- A government NPCI (National Payment Corporation Of India) approved app.
- The good set of investments through their app, company has caught everybody’s attention.
Jar App: Shareholders Insights
Beside having good and superior funding rounds and up to the mark current valuation, the app does have an fantastic shareholders site, which is kind of amazing to look at. Jar app poses a diverse group of shareholders who invested in the belief of the company and contributes to its success.
|SHAREHOLDERS NAME||PERCENTAGE OF SHARES OWNED|
|ESOP (Employee Stock Ownership |
From the above it can be said that –
- The founders hold the maximum number of shares in the company with a net worth of Rs.1,110 crores.
- Following it the other shareholders too hold shares in the company.
- Fund holds 33.9% of shares with a net worth of Rs.854 crore, following it the Angel holds 11.36% of shares with a net worth of Rs.286 crore.
- Similarly with a net worth of Rs.206 crore, ESOP holds 8.21% of the shares and Enterprise holds 2.38% of shares of the company with a net worth of Rs.59.6 crore.
Summing Up: Final Talks
From the above discussion we can observe that this fintech startup is all set to achieve new heights in digital finance solutions. The first of its kind app, provides auto-invest and auto-save facility through its app. The app takes spare change from the online transactions or payments from online payments, and invests it in digital gold.
Journey towards success of Jar app is driven by its strategic funding rounds, each of which is representing a step ahead in their journey. The valuation they got after its successful funding rounds and of course the diverse group of shareholders who believe in the company’s vision and its potential promise for secure payments, and savings.
With time the company is said to rise up to the mark, with its new funding rounds, good valuation, and also with a more lot of shareholders, that’ll make it stand out in the market and make it a first choice for the ones who love savings, and investing in gold.