What’s poppin — Tiger Global created a mini-storm leading a $32 million Series A round into micro-investing platform JarApp — at an eye-popping $200 million valuation! Unbelievable for a company founded barely 12 months ago!
But Jar’s growth has been just as incredible. They’ve managed to grow to 4 million+ users in under 12 months, with 1 million+ monthly actives. TechCrunch reports nearly 99% of all the users hadn’t invested in ANY asset class before.
For those hearing about this the first time, the app basically rounds off your daily purchases, and puts that money into digital gold for ya — like Acorns in the US which is already a $2.2 billion+ business.
Investing products typically come with heavy regulatory overhead, but Jar found ways to turn KYC mandates to its advantage — which has been key to its growth within its core first-time base.
Big picture — funding momentum hasn’t blinked one bit going into the new year. Jan 2022 for example one of the best Januarys on record in recent times.