Jar, a six-month-old savings platform, has raised $4.5 million led by Arkam Ventures. Tribe Capital and WEH Ventures joined the round as new investors with angel investors like Cred founder Kunal Shah, former Uber CPO Manik Gupta, Shaan Puri, formerly with Twitch, and others.

The startup has gained 500,000 users and is growing at 350 per cent month-on-month, its co-founder and CEO Nischay AG said. In contrast, the company is focusing on investments through digital gold and will launch other savings products too. “Currently, we are focusing on expanding and increasing our user base. Once we have a large user base, we will have a deeper analysis of user behaviour and slowly bring in other instruments to the platform,” said Nischay.