Naspers’ Dutch listed investment arm expands its deal pipeline in India, becoming its third major fintech and financial investment after Mintifi and Vastu Housing Finance.
This follows Jar’s Series B funding round of $22.6 million from Tiger Global, Eximius Ventures and others at a post-money valuation of $300 million.
Founded in January 2021 by Nischay and Misbah Ashraf, Jar operates a mobile-based app that allows users to invest from as little as 1 INR. It claims to have over 1.5 Cr users on the platform.
Global investment giant Prosus is reportedly in talks to lead a $50 million (Rs. 4,242 crore) funding round for fintech startup Jha.
Naspers’ Dutch listed investment arm has expanded its deal pipeline in India, becoming the third major fintech and financial investment after Mintifi and Vastu Housing Finance.
Additionally, he backed jewelry brand Bluestone, which is scheduled for an IPO early this year.
“Due diligence is ongoing and Prosus is likely to lead the new funding round through its venture arm,” a person familiar with the matter told ET, adding that other investors may also participate. round, adding that the final contours of the deal could still evolve.
Founded in January 2021 by Nischay and Misbah Ashraf, Jar operates a mobile-based app that allows users to invest starting from INR 1. The company claims to have over 1.5 Cr users on its platform.
This is coming to the next stage Bottled $22.6 million The company secured a Series B funding round from Tiger Global, Eximius Ventures and others at a post-money valuation of $300 million. We recently partnered PhonePe Rolling out a new “Daily Savings” feature to encourage the purchase of digital gold.
Since its founding in 2021, Jar has raised more than $61 million to date.
“They (Jar) not only sell gold, but also lab-grown diamonds. There is a strong affinity for buying jewelry as an investment, which is why Jar launched their own brand. In October, the total sales reached Rs 100 crore,” a person familiar with the matter told ET.
In response to Inc42’s questions about this development, Prosus said, “Today’s ET story is based on speculation and we do not comment on such market rumors.”
Development will take place a few days after Prosus invested $79.9 million in fintech startup Mintifi in October, taking a 10.65% stake. In addition to Mintifi, the Dutch investor invested $100 million in the same month for an 8.4% stake in Vastu Housing Finance.
Meesho, Elastic Run and Eruditus are among the other big bets in India. PayU also operates in India.
For Prosus, the investment in an Indian entity coincides with the public debut of Swiggy, its first investment in India.
The foodtech major entered the stock market on November 13, listing its shares on the BSE at Rs 412 per share. This is a 6% premium over the public price of Rs 390.
Prosus sold 109.09 million Swiggy shares through IPO. has raised about $500 million. “Based on the IPO price and the net proceeds of the shares sold, the internal rate of return (IRR) on Swiggy stock was 18%,” the group said in its first half report.
Buoyed by the big gains from the Swiggy IPO, it was reported last month that the investor is eyeing an IPO for the Indian unit of fintech company PayU in 2025. Irvin Tu, Prosus’ chief investment officer, said in November that investors: teeth Aim for the best time Towards IPO.
In addition to PayU, we are also looking at Prosus Possibility of listing of Meesho and BlueStone takes shape within the next 18 months. We also expect Erditus, Captain Flesh, Mintifi, Vastu and Mensa to be potential IPO candidates in the future.
