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Savings Startup Jar Raises $4.5 Million From Arkam Ventures, Tribe Capital And Others

Sep 01, 2021•almost 4 years ago

Amount Raised

$4.5 Million

Round Type

seed

Bengaluru

Description

Jar, a six-month-old savings platform that lets users invest in gold, has raised $4.5 million led by Arkam Ventures in its first institutional funding. Silicon Valley-based early-stage fund Tribe Capital and WEH Ventures have also joined the round as new investors besides angel investors like Cred founder Kunal Shah, former Uber CPO Manik Gupta, Shaan Puri, formerly with Twitch, and others.

Company Information

Company

Jar

Location

Bengaluru, Karnataka, India

About

Now that it’s made inroads among consumers in every Indian state, said Nishchay, the startup is looking to offer many more financial instruments where its users can invest, he said. The startup is also looking to lend to its users and offer them insurance in the next few months, he said.“Jar is bringing new users into the online investing space, starting with digital gold as the first product,” said Alex Cook, Partner at Tiger Global, in a statement. The Bengaluru-based Jar said on Thursday it has raised $32 million in its Series A financing round, just months after securing its seed funding. The new round values Jar at over $200 million, according to two people familiar with the matter. Jar, which raised $4.5 million from a range of investors including Tribe Capital and Arkam Ventures last year, operates an eponymous app that makes it very simple for users to start investing.