Indian fintech jar turns cash flow positive

The Indian fintech jar has turned cash flow positive, an executive at the Tiger Global-backed startup confirmed on Wednesday.

the Start-up for three yearswhich provides savings and investment services to consumers, achieved the milestone while still growing more than 10 times last year, according to an investor note seen by TechCrunch.

The increased profitability comes at a time when many fast-growing Indian startups are improving their finances and cutting expenses Become ready for IPOs.

Jar has expanded its offerings over the past year and a half, adding lending and online jewelry sales to its business. Its jewelry business, called Nek, sees annual sales of about $13 million a year, according to an investor note.

The new offers come at a time when the Bengaluru-based startup is in talks with Raise up to $50 million In a new round of financing, according to the Indian newspaper Economic Times.

Jarre declined to comment on the fundraising talks.