India’s fintech jar has become cash-flow positive, executives at the Tiger Global-backed startup confirmed on Wednesday, as it ramps up its offering. The three-year-old startup, which gives users the ability to start saving and investing, achieved a milestone while still growing more than 10 times last year, according to investor records reviewed by TechCrunch. The push for profitability comes as many fast-growing Indian startups are raising their finances and cutting costs to be IPO-ready. Jar has expanded its offerings over the past year and a half, adding lending and online jewelry sales to its business. The jewelry business, called Nek, does annual sales of about $13 million a year, according to investor records. The new offer comes as the Bengaluru-based startup is in talks to raise $50 million in a new funding round, according to India’s Economic Times newspaper. Jar declined to comment on the fundraising talks.
India’s fintech jar is cash flow positive
