Indian fintech Jar has turned money stream optimistic, an govt on the Tiger Global-backed startup confirmed on Wednesday.
The three-year-old startup, which gives financial savings and funding companies to shoppers, achieved the milestone whereas nonetheless rising by greater than 10 occasions final yr, in keeping with an investor observe seen by TechCrunch.
The profitability push comes as many fast-growing Indian startups are enhancing their financials and paring down bills to turn out to be prepared for IPOs.
Jar has expanded its choices prior 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 observe.
The new choices come at a time when the Bengaluru-headquartered startup is in talks to boost as a lot as $50 million in a brand new spherical of funding, in keeping with Indian newspaper Economic Times.
Jar declined to touch upon the fundraising talks.
