Over the last two years, no other asset has given better returns than gold. And in India, gold is not just an asset; it is an emotion. Every family, no matter rich or poor, buys gold at some point in life. Festivals, weddings, savings, and gold are always part of our story. Especially for women, gold carries memories, pride, and a sense of security.
People across the world also see gold as a safe haven and as a hedge against uncertain times. That’s why gold has always had a loyal base of buyers.
But here lies the problem: gold is expensive. Most people want to buy it, but the high price and need for large capital often stop them. Owning gold becomes a dream that keeps getting postponed.
This is where one young company stepped in with a bold idea: “What if anyone could start buying gold with just ₹10?”
Sounds too small, right? But that small idea has created a big impact. Millions of Indians started saving in gold, little by little, every day. And this habit has powered the company’s massive growth.
What’s even more impressive is in just a few years, this startup called Jar has now turned profitable. This is a rare achievement in the startup world and that grabbed the attention of the entire ecosystem.
So, how did Jar made it happen? How did a simple idea of buying gold with ₹10 become a profitable business? Let’s dive in by starting with the people behind it.
Jar was started in the year 2021. The company was founded by Nischay AG and Misbah Ashraf to change the way Indians save. This Bangalore-based fintech startup has introduced a culture of micro-savings by rounding up spare change from users’ daily transactions and investing it in digital gold.
So, they made it very easy and accessible for every individual to save. By letting users start with as little as ₹10, Jar turns everyday spending into a habit of wealth creation.
What makes this approach powerful is how well it aligns with India’s emotional and cultural connection to gold. For generations, gold has been seen as both a safe investment and a family treasure. Jar tapped into this trust and built a modern solution around it, promoting financial inclusion while helping millions accumulate wealth in small, consistent steps.
In just three years, Jar grew to over 35 million users spread across more than 12,000 pin codes in India. What’s even more interesting is that over 95% of these users were first-time savers. Most of these users came from smaller cities and towns, areas where traditional investment apps had barely made a dent.
But Jar didn’t stop at digital gold. The company expanded its offerings to build a full ecosystem of wealth creation: Nek (Jewellery vertical): allowing users to buy gold, silver, and even lab-grown diamond jewellery online. Other financial products: including insurance and third-party offerings, helping Jar cater to a wider audience and diversify its revenue streams.
And then came the big milestone. In FY25, Jar’s operating revenue skyrocketed from ₹23 crore to ₹208 crore, a ninefold growth in a single year. Even more impressively, the startup reported profitability in the last two quarters, a feat that very few young companies manage so quickly.
Jar’s rise is not accidental but is a mix of various strategies that worked so well. Unlike many fintech startups that chase urban, high-income users, Jar chose a different path. It focused on Tier-2 and Tier-3 towns, areas where traditional investment apps had barely made a mark. This decision opened the doors to a huge untapped audience. Today, over 60% of Jar’s users come from smaller towns, many of whom were saving formally for the first time in their lives. By going where the opportunity was largest, Jar built a foundation of loyal users who found the app relevant, simple, and trustworthy.
Jar made saving effortless. Features like UPI AutoPay and round-up transactions turned everyday spending into a micro-saving habit. Users didn’t need to remember to save or make large investments; the app did it for them. This automation reduced friction, encouraged consistency, and built long-term saving habits, especially among first-time savers.
But for all this to happen, the app needs to reach the audience. That’s where they chose influencer marketing. Jar amplified its reach through local influencers in Tier-2 and Tier-3 towns. These influencers spoke directly to their communities, in local languages and contexts, explaining how small, everyday savings could turn into gold over time.
This grassroots marketing created trust, awareness, and rapid adoption, helping Jar penetrate markets that other fintechs had ignored.
The past two years saw a steady rise in gold prices, making people more conscious of the need to invest in gold as a hedge and wealth-building tool. Jar became the ideal entry point, allowing users to invest small amounts, participate in a rising market, and gradually build their wealth. This external factor further accelerated adoption and user engagement.
All these factors combined to create an unprecedented growth trajectory. Within less than three years, Jar reached 35 million users across 12,000+ pin codes, with 95% of them being first-time savers.
Jar’s journey shows that big change can start with small steps. It tapped into India’s love for gold, focused on people who were often ignored, and built habits that stick.
The real lesson from this is to understand your users, solve real problems, and make it easy for them to take action. When you do that, growth, trust, and even profitability will follow.
Also Read: Google’s AI First Accelerator in India boosts 20 startups tackling key challenges with AI
