With new investors 1Finance, Capier Investments, Cloud Capital, Folius Ventures, Panthera Capital, Prophetic Ventures, Yes VC, Adam Nash from WealthFront, and Zachary Hargreaves from Vires Aeronautics also participating, investment tech startup Jar raised $22.6 million in Series B funding, which was led by Tiger Global. Other investors included Arkam Ventures, Eximius Ventures, Force Ventures, LetsVenture, Rocketship Venture Capital, and WEH Ventures
The Jar platform allows for the purchase of virtual gold. It runs a smartphone app that enables customers to make investments starting at just INR 1. Its app works in conjunction with the digital payment service Paytm to enable recurring payments. The money will go into growing Jar’s workforce and platform. Jar claims to regularly record over 220,000 transactions on average.
The Jar also claims to have served over 9 million users to date.