India, Dec. 24 -- Wealthtech startup Jar narrowed its net loss 15% to INR 103.97 Cr in the fiscal year 2023-24 (FY24) from INR 123 Cr in the previous year on the back of higher revenue and reduced expenses.

Revenue from operations skyrocketed 461% to INR 49.03 Cr in FY24 from INR 8.73 Cr in the last fiscal (FY23).

Including other income of INR 7.37 Cr, total revenue surged 277% to INR 56.41 Cr during the year under review from INR 14.93 Cr a year ago. This includes interest income on banked deposits, gain on sale of investments, among others.

Founded in January 2021 by Nischay AG and Misbah Ashraf, Jar operates a mobile-based app, which allows users to invest as little as INR 1 in digital gold. It claims to have more than 1.5 Cr users ...