Indian fintech Jar has turned cash flow positive, an executive at the Tiger Global-backed startup confirmed on Wednesday, as it gears up to deepen its offerings.
The three-year-old startup, which offers its users the ability to start their savings and investment journey, achieved the milestone while still growing by more than 10 times last year, according to an investor note TechCrunch has reviewed.
The profitability push comes as many fast-growing Indian startups are improving their financials and paring down expenses to become IPO-ready.
Jar has expanded its offerings in the past year and a half, adding lending and online jewelry sales to its business. Its jewelry business, called Nek, is doing an annualized sales of about $13 million annually, according to the investor note.
The new offerings come at a time when the Bengaluru-headquartered startup is in talks to raise as much as $50 million in a new round of funding, according to Indian newspaper Economic Times. Jar declined to comment on the fundraising talks.
