Jar
Jar is a Bangalore-based digital gold savings platform enabling Indian consumers to accumulate 24K gold via UPI autopay starting at ₹10 daily. Founded in 2021, it serves 35 million+ users through its mobile app, PhonePe partnership, and Nek jewellery sub-brand.
- Company typePrivate
- Founded2021
- HeadquartersBangalore, India
- Headcount251–500
- GTM typeB2C
- OfferingSoftware
What Jar does
Jar (legally Changejar Technologies Private Limited) is a Bangalore-based fintech founded in May 2021 by Nishchay AG (CEO) and Misbah Ashraf, operating a digital gold savings platform targeted at Indian retail consumers who lack access to traditional lump-sum gold investment. The platform enables users to accumulate 24K gold through automated UPI autopay in daily (₹10 minimum), weekly (₹50 minimum), monthly (₹100 minimum), or instant savings modes, with physical gold custodied in Brinks India vaults and insured by ICICI Lombard. Jar's proprietary Gold Tech stack executes transactions in under 45 seconds, and the platform combines direct mobile app distribution with an embedded "Daily Savings" feature inside PhonePe (560M+ registered users) and UPI integrations through BharatPe and Unity Bank. Trust infrastructure includes Vistra Corporate Services as independent administrator/trustee conducting regular audits, daily reconciliation of vault balances against user holdings, multi-factor authentication, and PCI DSS-compliant payment processing. As of 2026, the company claims 35 million users with 3.3 crore investor accounts, ₹4,000 crore in cumulative turnover since inception, and ₹2,448 crore in FY25 revenue (~43x YoY growth).
The business model derives revenue primarily from the spread between market-linked buy and sell prices on digital gold transactions, supplemented by one-time jewellery sales through the Nek sub-brand and recurring insurance product commissions. Pricing is unit-based with live market pricing, free vault storage for five years (storage fees thereafter), and no minimum lock-in on balances. Jar has expanded its product surface into Nek jewellery (allowing redemption of digital gold balances for physical gold and silver items) and insurance products, signaling a multi-product super-app trajectory. The company's GTM motion is product-led growth via self-serve mobile onboarding (KYC completion in ~45 seconds with a PAN card), reinforced by referral programs, financial literacy content, and PR coverage in Bloomberg, TechCrunch, and Forbes India.
Strategically, Jar raised over $63 million across rounds led by Tiger Global Management (Series A $32M in Feb 2022; Series B $22.6M at $300M valuation in Aug 2022), with Arkam Ventures, Tribe Capital, WEH Ventures, Kunal Shah, and Alvin Tse as earlier backers. A $50M Prosus round collapsed in 2025 over valuation disagreements; Jar is reportedly in advanced discussions for $100M+ at $550M valuation led by WestBridge Capital with Kotak Investment Banking advising. Monthly profitability was achieved in 2025. The company faces material regulatory headwinds: in January 2026, an FIR was registered under the Banning of Unregulated Deposit Schemes (BUDS) Act, 2019, following an RBI Market Intelligence Unit alert, and the Karnataka High Court rejected Jar's plea to quash the investigation in March 2026. Jar is a participant in the newly forming Digital Precious Metal Council of India alongside PhonePe, Google Pay, MMTC-PAMP, and Safegold.
Jar firmographics
Firmographics- Name
- Jar
- Legal name
- Changejar Technologies Private Limited
- Website
- https://myjar.app
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Jar is a Bangalore-based digital gold savings platform enabling Indian consumers to accumulate 24K gold via UPI autopay starting at ₹10 daily. Founded in 2021, it serves 35 million+ users through its mobile app, PhonePe partnership, and Nek jewellery sub-brand.
- Ownership category
- akta.pro rank
Jar industry classification
Industry- Product category
- Digital Gold Savings
- NAICS
- Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Commodities & Natural Resources Tokenization (Metals, Energy, Carbon) (FSADAEAE)
- akta.pro secondary industries
- Digital Wallet Infrastructure (Tokenization, Wallet-as-a-Service) (FSAMAEAI), Tokenization, Network Vaults & Credential Management (FSAGABAF)
Keywords
Where Jar is headquartered
LocationHeadquarters
- HQ city
- Bangalore
- HQ country
- India
- HQ region
- Asia
Offices1 record
Markets served
Jar business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Operations
Revenue model
- Gold Transaction Margin: Jar earns revenue through the spread between the market-linked buy and sell prices of digital gold. Prices are linked to commercial bullion market rates in India but may include a margin. Users can purchase gold at displayed prices and sell back at prevailing rates, with the difference representing platform revenue.
- Jewellery E-commerce (Nek): Jar has expanded into jewellery sales through its Nek brand, offering silver and gold jewellery for purchase via the platform. Users can redeem their digital gold savings to purchase physical jewellery items.
- Insurance Products: Jar has expanded beyond digital gold into insurance products as part of its diversification strategy, offering additional financial products to its customer base.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Daily Savings Plan - Start saving Rs 10/day in digital gold |
| Unit Pricing | Pay-as-you-go | Weekly Savings Plan - Start saving Rs 50/week in digital gold |
| Unit Pricing | Monthly | Monthly Savings Plan - Start saving Rs 100/month in digital gold |
| Unit Pricing | Pay-as-you-go | Instant Savings - Save any amount anytime |
| Other | Monthly | Free Storage for 5 years, then charges apply |
| Unit Pricing | Pay-as-you-go | Gold Delivery - Physical gold coins and bars |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels7 records
Jar product offering
Product offeringCore offering
Jar is a mobile-first digital gold savings platform that lets Indian consumers accumulate 24K gold in fractions starting from Rs 10 per day through automated daily, weekly, monthly, or instant savings powered by UPI autopay. Physical gold backing is stored in Brinks vaults with ICICI Lombard insurance and Vistra-administered independent audits, and users can convert accumulated digital gold into physical gold, coins, bars, or jewellery via the Nek sub-brand.
Product overview
Jar is a digital gold savings platform enabling Indians to save money in 24K digital gold through flexible automated savings options (daily, weekly, monthly, and instant). The platform offers its core digital gold product alongside financial calculators, and has expanded into jewellery (Nek brand) and insurance products. Jar partners with PhonePe for embedded daily savings, and integrates with multiple UPI payment platforms for transaction processing. Gold is tokenized by MMTC-PAMP and SafeGold, stored securely in Brink's vaults, and insured by ICICI Lombard with independent audits by Vistra.
Differentiator
Problem solved
Functional benefit
Brands
- Nek: Jewellery sub-brand operated by Jar Gold Retail Private Limited, offering silver and gold jewellery including coins, bars, and bespoke jewellery with secure home delivery.
Products and services
- Digital Gold Savings Jar's flagship offering enabling Indian consumers to buy, hold, sell, and redeem 24K (99.9% pure) digital gold in fractions starting from Rs 10. Physical gold backing is stored in Brinks vaults, insured by ICICI Lombard, and audited by Vistra; users can redeem accumulated balances as physical coins, bars, or jewellery with doorstep delivery.
- Automated Savings Plans (Daily, Weekly, Monthly, Instant) Recurring savings plans that automatically purchase digital gold via UPI autopay on a daily (from Rs 10), weekly (from Rs 50), monthly (from Rs 100), or instant on-demand basis. Targets Indian consumers building a savings habit through small, automated gold purchases.
- Nek Jewellery E-commerce platform operated by Jar Gold Retail Private Limited offering affordable silver and gold jewellery, coins, and bars. Users can redeem accumulated Jar digital gold savings to purchase physical jewellery with doorstep delivery.
- Insurance Products Insurance offerings added to the Jar app as part of the company's diversification beyond digital gold, made available to its existing consumer base.
- PhonePe Daily Savings (Embedded Gold Savings) Embedded digital gold savings feature distributed via the PhonePe app, enabling PhonePe's 560+ million registered users to save in 24K digital gold through incremental daily contributions ranging from Rs 10 to Rs 5,000 per day. Powered by Jar's proprietary Gold Tech stack.
Quantifiable outcome
- Revenue grew from ₹56.4 crore (FY24) to ₹2,448 crore (FY25) — approximately 43x year-over-year increase
- +4 more outcomes
Companies that use Jar
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles3 records
Jar technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration8 records
AI capability4 records
Feature6 records
Jar partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and minor.
- PhonePecoreJar partnered with PhonePe to launch 'Daily Savings' in digital gold, embedding Jar's Gold Tech stack into the PhonePe ecosystem. The feature enables PhonePe's 560+ million registered users to save in 24K digital gold through incremental daily contributions ranging from ₹10 to ₹5,000 per day. Transactions process in under 45 seconds. The partnership was initially exclusive to PhonePe's ecosystem.
- Brinks India (Custodian)coreBrinks India Private Limited serves as Jar's custodian, storing all physical gold purchased by users in secure vaults. As a globally recognized leader in secure logistics and vaulting, Brinks provides the physical infrastructure for Jar's digital gold offerings. The gold is insured by ICICI Lombard.
- Vistra Corporate Services (Administrator/Trustee)coreVistra Corporate Services (India) Private Limited is appointed as the Administrator/Trustee for Jar, conducting regular independent audits to ensure the physical gold in Brinks vaults perfectly matches the database and user holdings. Vistra operates bank accounts as sole signatory and manages unclaimed funds.
- ICICI Lombard (Insurance)coreICICI Lombard provides insurance coverage for all user gold holdings stored in Brinks vaults, ensuring 100% consumer protection against loss, theft, or damage to physical gold assets.
- BharatPeminorJar entered UPI payments through a partnership with BharatPe, enabling Jar users to make and receive payments through the BharatPe payment infrastructure.
- Unity BankminorJar partnered with Unity Bank for UPI payment integrations, extending its payment capabilities through the bank's digital banking infrastructure.
Scale indicators9 records
Recent moves6 records
Expansion highlights6 records
Jar competitors and assessment
Company assessmentDirect peers
- SafeGold (Digital Gold India): Direct competitor in digital gold infrastructure. SafeGold is the underlying digital gold partner for multiple Indian platforms including Jar (via partnership) and provides gold sourcing, vaulting, and transaction services to consumer apps. Directly comparable in tokenised gold offering.
- MMTC-PAMP: One of India's largest gold refiners and digital gold providers, jointly owned by MMTC and PAMP (Switzerland). Provides gold tokenisation services that power Jar's digital gold offering. Competes directly with consumer-facing digital gold savings products.
- PhonePe: India's largest UPI payments platform with 560M+ users and Jar's most important embedded partner via the 'Daily Savings' feature. PhonePe also offers its own gold investment product, making it both a distribution partner and a direct competitor in digital gold.
- Gullak: Indian digital gold savings startup with similar micro-savings positioning via UPI autopay. Part of the Digital Precious Metal Council of India. Closely comparable in target audience (young Indian savers) and product mechanics.
- Augmont Gold (now Augmont): Established Indian digital gold platform providing gold buying, selling, and delivery services. Competes with Jar in consumer-facing digital gold and has its own infrastructure for tokenisation, vaulting, and merchant gold solutions.
Broad incumbents
- Google Pay (GPay): Major UPI platform that enables digital gold purchases within its app. Routes a significant share of digital gold transactions via UPI and is part of the Digital Precious Metal Council alongside Jar. Functions as both indirect channel and competing distribution point.
- Paytm: One of India's largest fintech platforms offering digital gold purchases via UPI within its app. Competes with Jar for share-of-wallet on micro-savings and gold investments, and is part of the Digital Precious Metal Council. Broader fintech scope than Jar.
- Amazon Pay: UPI-enabled payments platform offering digital gold purchases via Amazon Pay. Competes with Jar in the broader Indian consumer savings and digital gold market as part of Amazon's wider fintech offering.
Emerging players
- WazirX: Indian crypto exchange that has explored tokenised gold products. While primarily a crypto platform, the tokenisation of precious metals is adjacent to Jar's core business model and serves overlapping tech-savvy Indian investors.
Regional players
- BharatPe: Indian merchant payments platform and Jar's partner for UPI payment integration. While primarily merchant-focused, BharatPe serves Indian consumers and competes tangentially in digital savings and payment-led financial products within the same domestic market.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Jar social profiles
Digital presenceJar compliance and trust
Trust signalCompliance2 records
Jar financial estimates
Financial estimateRevenue estimate
Valuation estimate
Jar leadership team
Management profileNumber of profiles
Profiles2 records
Jar subsidiaries and ownership
Company hierarchySubsidiaries1 record
Jar funding detail
Funding detailFunding overview
Funding rounds6 records
Investors30 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Jar M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Jar
What does Jar do?
Jar is a mobile-first digital gold savings platform that lets Indian consumers accumulate 24K gold in fractions starting from Rs 10 per day through automated daily, weekly, monthly, or instant savings powered by UPI autopay. Physical gold backing is stored in Brinks vaults with ICICI Lombard insurance and Vistra-administered independent audits, and users can convert accumulated digital gold into physical gold, coins, bars, or jewellery via the Nek sub-brand.
Is Jar a public or private company?
Jar is a private company. It is classified as venture growth investor backed and is currently operating.
When was Jar founded?
Jar was founded in 2021. It employs 251 to 500 people.
Where is Jar based?
Jar is headquartered in Bangalore, India, in the Asia region.
How does Jar make money?
Three revenue lines are on record. Gold Transaction Margin is the primary driver. The others are jewellery E-commerce (Nek) and insurance Products.
Who are Jar's main competitors?
Direct peers on record are SafeGold (Digital Gold India), MMTC-PAMP, PhonePe, Gullak and Augmont Gold (now Augmont). Broad incumbents are Google Pay (GPay), Paytm and Amazon Pay. WazirX is listed as an emerging player. BharatPe is listed as a regional player.
Does Jar have an API?
No public API is recorded for Jar.
What industry is Jar in?
Jar's product category is Digital Gold Savings. Its primary akta.pro industry code is FSADAEAE, Commodities & Natural Resources Tokenization (Metals, Energy, Carbon), with a secondary code of FSAMAEAI, Digital Wallet Infrastructure (Tokenization, Wallet-as-a-Service). Its NAICS code is 523 and its SIC code is 6200.