Indian Fintech Jar Turns Profitable as Millions Adopt Gold Savings

Indian startup Jar, a fintech platform built around micro-savings in gold, has achieved profitability after significant Jar revenue growth and expanding adoption in smaller Indian cities. According to TechCrunch, Jar fintech turned profitable for two consecutive quarters, marking a milestone in India’s rapidly growing digital financial services sector.

Profitability Backed by Gold-Savings Model

Jar enables users to invest in digital gold from as little as ₹10 per day, a model designed for mass accessibility. This savings approach has attracted more than 35 million registered users across 12,000 zip codes in India. Nearly 60 percent of the user base comes from tier-2 and tier-3 towns, and more than 95 percent of participants are first-time formal savers.

Revenue expansion underlines the scale of growth. Jar’s operating income from its core app rose ninefold in fiscal year 2024 to ₹2.08 billion (USD 23.6 million). Total revenue, including its broader business lines, reached ₹24.50 billion (USD 279.3 million), representing a forty-nine-fold increase year over year. These numbers demonstrate how Jar becomes profitable saving gold while building long-term traction among India’s middle- and lower-income households. Fintech works beyond being an industry in India as it represents an advanced social revolution.

Expansion Beyond Digital Gold

Jar has diversified to strengthen its model and reduce dependency on a single stream. Strategic Expansion Measures:

• Nek, a jewelry marketplace offering gold, silver, diamonds, and lab-grown diamonds under a dropshipping structure that reduces inventory overhead.
• Vertical integration across the gold value chain, purchase, storage, and custody, with partners including BDO and Brinks, supporting higher margins.
• Integration with India’s Unified Payments Interface (UPI), including AutoPay for recurring savings, as well as enabling peer-to-peer and merchant transactions.

“Daily savings is our hero feature, and that’s what most of our users use it for,” CEO Nishchay AG said when asked how UPI AutoPay has contributed to the company’s growth.

IPO Plans and Industry Context

Jar has raised USD 63.3 million in funding, with its last reported valuation exceeding USD 300 million. The company is preparing for a public listing, expected in 2026, by working with investment bankers.
“The growth team consistently built different cohorts to identify the consumer based on a lot of attributes and data signals, based on what phone you use, which location you are operating the phone, from what language, what is your consistent saving pattern, all of those things they take into consideration,” Nishchay said.

Impact on B2B and Fintech Sector

The growth of fintech gold investment services demonstrates how culturally relevant products can bridge financial inclusion gaps while driving sustainable business outcomes. Jar shows what is Jar’s business model with gold savings, combining micro-investments, vertical integration, and digital payments to scale profitably. For B2B stakeholders, the success story illustrates a viable path for fintech firms targeting underserved markets where trust and accessibility drive adoption.