Wealthtech startup Jar reported a 15% reduction in its net loss for FY24, decreasing to 103.97 crore rupees (US$12.20 million) from 123 crore rupees (US$ 14.8 million) previous year, driven by strong revenue growth and controlled spending.

Operational revenue surged 461% to 49.03 crore rupees (US$5.76 million) in FY24, driving total revenue, including other income, up by 277% to 56.41 crore rupees (US$6.62 million).

Meanwhile, advertising and marketing expenses dropped significantly by 5.71% to 29.27 crore rupees (US$3.44 million).

Founded in 2021, Jar enables users to invest in digital gold and has more than 1.5 crore users. Jar’s last Series B round valued the company at US$300 million.