FinTech news in Folius Ventures category

Tiger Global has led a new funding round in Jar, the Indian fintech that is helping millions of Indians save small amounts to invest in digital gold as the startup gears up to launch a host of new offerings including insurance, mutual funds and lending. On its eponymous app, the startup allows users to choose from different savings options such as roundups — where the nearest round number after a transaction gets saved automatically, as well as setting recurring savings amounts and performing one-time execution, explained Misbah Ashraf, co-founder of Jar. The funding values the one-year-old startup at over $300 million, it said, and saw participation from Folius Ventures, Panthera Capital, Prophetic Ventures, Yes VC, WealthFront founder Adam Nash and Founders Fund principal Zachary Hargreaves as well as early backers Arkam Ventures, Rocketship.vc and WEH. Jar, which is also looking to hire another 50 people, is developing and testing secured and unsecured lending, mutual funds, fixed deposits, peer-to-peer loans and insurance, he said.