Wealthtech Startup Jar Expands into E-commerce with D2C Jewelry Brand Nek
Jar, a wealthtech startup backed by Tiger Global, is launching its direct-to-consumer (D2C) jewelry brand, Nek, as part of its strategy to diversify revenue streams. The company, which focuses on digital gold investments through its mobile app, aims to exceed INR 100 crore in annual recurring revenue (ARR) by October. CEO Nishchay AG indicated that the launch aligns with Jar’s existing customer base and reflects a natural progression in their offerings. Despite significant growth in operating revenue, Jar reported a widening net loss in FY23, highlighting the challenges in achieving profitability as it expands into e-commerce and explores the peer-to-peer (P2P) lending market
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