Indian fintech Jar turns profitable by enabling millions to save in gold

Indian fintech startup Jar has achieved profitability by enabling millions of users to save in gold. The company allows users to invest small amounts of money into digital gold, which has seen a surge in popularity in India. Jar has been profitable after tax for the past two quarters, a significant milestone for a fintech startup. The company's focus on making gold savings accessible to the masses has been a key driver of its success. Jar's platform allows users to invest as little as ₹1 ($0.012) in digital gold, making it an attractive option for those who may not have access to traditional investment avenues. The company's user base has grown to over 8 million, with the majority of its customers being first-time investors. The article highlights Jar's ability to tap into the growing demand for gold investments in India, and its success in making this asset class more accessible to the masses. The company's profitability demonstrates the viability of its business model and the potential for similar fintech solutions to address the financial needs of underserved populations.