Prosus in talks to lead new funding in fintech Jar; ups ante in new deal-making
Prosus, the Dutch-listed investment arm of Naspers, is in an advanced stage of talks to lead a new round of funding in fintech Jar, people in the know said.
The Swiggy investor has upped its new deal pipeline in India, and this would be the third major deal in the fintech and financing sector after itsinvestments in Mintifi and Vastu Housing Finance. It has also backed IPO-bound jewellery maker Bluestone this year.
Jar, which helps consumers save small amounts to invest in digital gold, has held talks with investors to raise around $50 million in this round. The startup was last valued at $300 million when it raised $22.6 million from Tiger Global in 2022.
“The due diligence is underway and Prosus, through its venture arm, is likely to lead the new funding round,” a person aware of the matter said, adding that the final contours of the deal may still evolve as other investors may also join the round.
An email sent to Prosus didn’t elicit any response while Jar founder Nischay AG declined to comment. Jar has so far raised more than $61 million since inception in 2021.
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