Jar Claims Profitability, 20 Startups Selected, and Ather Energy’s Milestone

India’s most enduring savings product was never a bank account; it was a gullak. Jar’s rise is, at heart, a software translation of that reflex - turning small amounts of money into a growing investment with minimal effort. The app’s magic lies in its simplicity: round up everyday spends and sweep the difference into 24K digital gold, or set tiny automated debits as low as ₹10 a day. What began as a digital “why not?” experiment has quietly scaled into a habit for tens of millions.

In just four years, Jar claims ~35 million users across 12,000 PIN codes, with nearly 60% outside metros and an astonishing 95% saving formally for the first time. That framing - the “Digital Gullak” - wasn’t only clever marketing, it was the wedge into a population that banks and brokerages rarely reached. For this cohort, ₹10 a day feels realistic, not aspirational.

The business model, though, tells a more complicated story. Jar began as a distributor, taking a thin commission per gold transaction, which yielded just ₹49 crore in revenue in FY24. By vertically integrating into gold sales itself, the company ballooned its top line to ₹2,450 crore in FY25, with operating revenue jumping to ₹208 crore and net losses more than halving to ₹35.2 crore. Two profitable quarters in FY25 and FY26 were a welcome surprise in a funding winter. Yet investors aren’t convinced. A planned $50 million round in 2025 fell apart when Prosus and others priced Jar at $200-250 million, against the company’s ask of $300-350 million. Today, its “true” valuation remains murky. This signals more than a haircut; it reflects investor doubt about whether Jar’s topline growth is structural or cosmetic, and whether it can build moats in a business model that competitors can replicate with ease.

That doubt isn’t unique to India. Globally, similar apps have tried and stumbled. In the U.S., Acorns popularized the “round-up savings” model, raising hundreds of millions but struggling to turn micro-savings into sustainable profitability. Digit, another U.S. app that automated small savings, was eventually acquired by fintech Oportun, not because it cracked scale, but because it fit as a feature in a larger financial stack. Closer to Asia, micro-savings apps in Indonesia and the Philippines found early traction but faded once super-apps like Gojek and Grab embedded similar features directly. The cautionary tale is clear: habit loops can be copied, margins are thin, and standalone apps often plateau without diversification. Jar, despite its impressive reach, could face the same ceiling unless it becomes more than a savings app.

That is why its push into adjacencies - jewellery (through Nek), personal loans, and insurance - is crucial. These higher-margin lines already contribute meaningfully to revenue, but they also make Jar more attractive as an acquisition target. A Paytm, PhonePe, or even Google Pay could view Jar as a fast track to capture 30+ million first-time savers, many in Tier-2 and Tier-3 India. The same way Credit Karma was snapped up by Intuit in the U.S., Jar could be a bolt-on acquisition for a bigger player hungry for financial depth. Whether Jar sells or stays independent depends on whether it wants to optimize for survival in a crowded, commoditized space - or double down on building a full-fledged financial services franchise.

The long-term play is there, but it requires patience and discipline. Jar’s advantage isn’t the gross sales it now books; it’s the trust it has built in getting Indians to save consistently for the first time. If it can use that wedge to layer on more financial products - credit lines, insurance, SIPs, or even regulated investment products - it graduates from “Digital Gullak” to mass-market financial concierge. But that means playing the slow, boring game of compounding operating profits, navigating eventual regulation of digital gold, and keeping attrition low when competitors dangle richer rewards. It means proving that a habit loop is a platform, not just a feature.

So where does that leave Jar today? Valuation doubts suggest investors aren’t yet sold on the story. Global comparisons suggest that habit-led savings apps rarely remain standalone giants. Acquisition interest is plausible, if not inevitable, as bigger fintechs look for ready-made distribution. And the long-term case rests on Jar’s ability to turn cultural familiarity into diversified, regulated, and profitable financial relationships. It’s a narrow bridge - but if Jar walks it steadily, it could turn a digital gullak into a durable franchise. If not, it risks being remembered as a brilliant idea that proved how Indians could be nudged to save - and then lost that edge to bigger players.

Let’s go through what else is happening in Indian startup world - Grab your simmering cup of StartupChai.in and unwind with our hand-brewed memes.

“Apna Sapna Money Money”: Wealthtech Startup Jar Claims Profitability In H1 2025

Wealthtech startup Jar says it turned profitable in the first half of 2025, riding on booming revenues from both micro-investments in gold and its new ecommerce jewellery play.

With losses slashed by half and revenue jumping over 4X, Jar seems to be polishing its balance sheet as brightly as its customers’ ornaments.

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“You’re The Best”: 20 Startups Selected For Google’s AI First Accelerator 2025

Google has handpicked 20 promising AI startups out of a massive 1,600 applications for its AI First Accelerator 2025.

Over the next three months, these startups will get equity-free support, mentorship, and hands-on training to sharpen their tech game. With access to Google Cloud and its shiny Gemini AI, the cohort looks set for a serious upgrade.

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“Hum Saath Saath Hai”: TCC Concept To Acquire Pepperfry

Furniture soonicorn Pepperfry may finally find a new home as BSE-listed TCC Concept signs a term sheet to acquire up to 100% stake.

The move could give TCC a solid foothold in India’s ecommerce and digital marketplace game. For Pepperfry, which has been nursing heavy losses, this deal might just be the makeover it needs.

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“Ready Steady Po”: Ather Energy crosses 500+ experience centres in India

Ather Energy just zipped past a big milestone with 500+ Experience Centres now open across India. The EV maker is charging ahead in Middle and North India too, thanks to the buzz around its family scooter, Rizta.

With plans to hit 700 centres by FY26, Ather seems all set to make its scooters as familiar in tier 2 and 3 cities as they are in metros.

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“Jab Miya Bibi Ho Raazi”: IPO-Bound PhonePe Gets Final Nod To Operate As Payment Aggregator

IPO-bound PhonePe has finally bagged RBI’s green light to run as a payment aggregator. The nod comes two years after its in-principle approval, marking a key step in its fintech journey.

With this, the Walmart-backed giant is set to tighten its grip on India’s booming digital payments space.

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1. D2C kidswear brand INCLUD has raised INR 25.4 Cr in a round led by 3one4 Capital with support from Incubate Fund Asia. The Gurugram-based startup, which competes with Ed-a-Mamma and Nap Chief, plans to stitch this funding into its next growth phase.
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2. IISc-incubated SpaceFields has secured $5 Mn from Globaz Technologies, Rockstud Capital, and others to fuel its rocket propulsion ambitions. The startup will use the funds to scale manufacturing, expand its team, and chase crucial aerospace certifications.
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3. Carbon removal startup Equilibrium has raised $3 Mn from Kalaari, Peak XV, and Avaana Capital to scale its sustainability mission. The funds will help expand its eight pipeline projects across nine states, covering 1.2 lakh hectares.
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4. EVamp Technologies, the startup behind Mobilane EV chargers, has raised Rs 7 Cr in its first funding round. The capital will power its expansion into domestic manufacturing and a wider charging network across cities, highways, and commercial hubs.
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