Prosus in talks to lead $50 Mn funding in Fintech startup jar

Global investment giant Prosus is reportedly in discussions to lead a $50 Mn (INR 4242 Cr) funding round in fintech startup Jar.

The Naspers’ Dutch-listed investment arm has expanded its deal pipeline in India, marking its third major fintech and financing investment after Mintifi and Vastu Housing Finance. 

Additionally, it backed IPO-bound jewellery brand Bluestone earlier this year.

Founded in January 2021 by Nischay and Misbah Ashraf, Jar operates a mobile-based app, which allows users to invest as little as INR 1. It claims to have more than 1.5 Cr users on the platform.

This comes close on the heels of Jar bagging $22.6 Mn in its Series B funding round at a post-money valuation of $300 Mn from Tiger Global, and Eximius Ventures, among others. It recently partnered PhonePe to roll out a new ‘Daily Savings’ feature to spur the purchase of digital gold. 

 Jar has so far raised more than $61 Mn since inception in 2021.