Jar, an Indian fintech startup backed by Tiger Global, has reached cash flow positive status while experiencing over 10 times growth last year. This financial milestone comes as part of a broader trend among Indian startups seeking to improve profitability and prepare for Initial Public Offerings (IPOs). In the past year and a half, Jar has diversified its offerings by adding lending and online jewelry sales, with the latter generating around $13 million in annualized sales. Furthermore, the company is in talks to raise $50 million in new funding, showcasing its growth potential.
Jar has turned cash flow positive while growing more than 10 times last year, as it expands its range of financial offerings.
Many Indian startups are improving financials to become IPO-ready, a trend evident in Jar's strategic focus and profitability push.
The first of its new offerings, Nek, focuses on online jewelry sales and has generated an annualized sales of about $13 million.
In discussions for further funding, Jar is looking to raise up to $50 million, indicating confidence in its growth trajectory.
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