Indian Fintech Jar Achieves Cash-Flow Positivity

Jar Achieves Cash-Flow Positivity

Jar, an Indian fintech company, has reached a significant milestone by becoming cash-flow positive. This confirmation came from a company executive on Wednesday.

Growth and Profitability

The startup, backed by Tiger Global, has experienced substantial growth, expanding more than tenfold in the past year. Despite this rapid expansion, it has successfully achieved profitability.

This focus on financial improvement aligns with a broader trend among rapidly expanding Indian startups. Many are now prioritizing stronger financials and reducing expenditures in preparation for potential Initial Public Offerings (IPOs).

Expansion of Services

Over the last eighteen months, Jar has diversified its services beyond its initial offerings. The company now includes lending options and an online jewelry retail segment within its business model.

The jewelry venture, branded as Nek, is currently generating approximately $13 million in annualized sales, as detailed in an investor note.

Future Funding

Based on reports from the Indian newspaper Economic Times, the Bengaluru-based startup is currently exploring a new funding round. Discussions suggest a potential raise of up to $50 million.

Jar has not provided any official comment regarding these ongoing fundraising negotiations.