Jar Raises ₹29 Crore in Fresh Funding Round Led by Existing Investor Unitary Fund
BENGALURU — Bengaluru-based fintech startup Jar, an automated digital gold micro-savings platform, has secured ₹29 crore ($3.4 million) in a fresh Series B2 funding round. The capital infusion comes directly from existing shareholder Unitary Fund, which subscribed as the sole investor for this tranche.
According to regulatory filings, Jar’s board approved the allotment of 170,589 Series B2 compulsorily convertible preference shares (CCPS) at an issue price of ₹1,700 per share. The new round values the company roughly 23% higher than its previous valuation, signalling sustained investor confidence in its unit economics despite a selective macro fundraising environment for Indian startups.
Strategic Capital in a Selective Market
The internal round follows reports that Jar had previously been in discussions with larger venture capital and private equity firms, including WestBridge Capital. As broader transactions faced extended timelines, the ₹29 crore infusion from Unitary Fund provides immediate working capital momentum and allows the company to execute its expansion plans without dilution pressures.
"The fresh capital will be deployed toward meeting ongoing working capital requirements, driving corporate development, and further expanding our micro-investment product portfolio," according to details outlined in the corporate updates.
Democratizing Digital Gold for Retail India
Founded in 2021 by Nishchay AG and Misbah Ashraf, Jar operates a micro-savings platform that automatically rounds up daily digital transactions made by users. By tracking transaction SMS alerts, the app takes spare change—starting from as little as Re 1—and automatically converts it into digital gold backed by physical gold stored in secure vaults managed by SafeGold.
By lowering the entry barrier to wealth creation, Jar has built a rapidly growing user base across India’s Tier-2 and Tier-3 cities. Beyond digital gold, the platform has been expanding its broader financial ecosystem into micro-investments, credit, and personal finance management services.
Investor Backing and Equity Structure
The sole participation of Unitary Fund in the Series B2 round reinforces the commitment of Jar’s established cap table. Jar’s institutional backer roster includes prominent domestic and global funds such as Tiger Global Management, Rocketship.vc, Arkam Ventures, Eximius Ventures, Force Ventures, and WEH Ventures.
With this fresh balance sheet support, Jar remains positioned to expand its market footprint and accelerate its push toward sustainable growth in India’s evolving retail fintech sector.