Indian fintech Jar has turned money circulation optimistic, an govt on the Tiger World-backed startup confirmed on Wednesday.
The three-year-old startup, which affords financial savings and funding companies to customers, achieved the milestone whereas nonetheless rising by greater than 10 occasions final yr, in keeping with an investor word seen by TechCrunch.
The profitability push comes as many fast-growing Indian startups are enhancing their financials and paring down bills to become ready for IPOs.
Jar has expanded its choices up to now yr and a half, including lending and on-line jewellery gross sales to its enterprise. Its jewellery enterprise, known as Nek, is seeing annualized gross sales of about $13 million yearly, in keeping with the investor word.
The brand new choices come at a time when the Bengaluru-headquartered startup is in talks to raise as much as $50 million in a brand new spherical of funding, in keeping with Indian newspaper Financial Instances.
Jar declined to touch upon the fundraising talks.
