Global private equity investor Tiger Global Management doubled down on its investment in Indian micro-saving app, Jar, by leading a $22.6 million round which saw participation from a clutch of other investors, a partner at the fund said.
The funding, through a primary issue of shares, values the one-year-old startup at $300 million, $100 million higher than when it raised $32 million in February 2022. Tiger injected funds into the company in that round also.
The company is seeing 20% average growth in users’ savings with over 9 million customer investing in the single asset of a gold-backed saving product with 220,000 daily transactions.
Read more: BNN Bloomberg
