Jar Success Story: In the world of business and startups, you must have heard the story of many startups, but today we have brought for you such a success story, which, despite failing many times in life, has made a company worth Rs 2000 crore today.
We are talking about Misbah Ashraf, a resident of Bihar, who started a fintech startup named ‘Jar’ and today his ‘Jar’ company is famous all over India as well as the whole world. Let me also tell you that, with the help of this Startup, everyone is now able to know the name of Misbah Ashraf.
Today’s article explores the success story of Jar, delving into Misbah’s journey of founding and ultimately achieving success with the company.
Who is Misbah Ashraf?: Jar Success Story
Misbah Ashraf resides in the Nalanda district of Bihar state in India, hailing from a middle-class family. His father was an ordinary teacher in a school, or his mother was a housewife. Coming from a middle-class family, Misbah Ashraf started working to earn money at an early age.
However, Misbah was aware from a young age that his path to success would be paved solely through the realm of business. Later, Misbah also joined college, but due to lack of interest there, he dropped out from college and started a business called Social Payment Venture Cibola with a friend of his from IIT Delhi.
| Article Title | Jar Success Story |
| Startup Name | Jar |
| Founder | Misbah Ashraf |
| Homeplace | Nalanda, Bihar, India |
| Networth | 165 Crore |
| Official Website | https://myjar.app/ |
Failed in the beginning: Jar Success Story
This payment venture business of Misbah did not do very well, due to which he decided to close it. Following this, in 2017, Misbah initiated her second venture—a beauty and fashion platform she coined ‘Marsplay.’
The Marsplay startup had garnered two rounds of investment, experiencing prosperity in its operations. However, amid the COVID-19 pandemic, Misbah encountered substantial losses in the venture. Due to this, he had to sell ‘Marsplay’ Startup to FOXY Company.
Jar made him a hero
Despite not getting success in his first two startups of his life, Misbah never gave up and kept moving forward. After which, in the year 2021, he started a startup named ‘Jar’ in Bengaluru. Jar is a kind of fintech startup, which provides financial facilities to people and this Jar has made Misbah a hero today.
Let us also tell you that Misbah’s name is also in the list of “Forbes 30 Under 30” of the year 2023 and he is the only person from the state of Bihar who has been included in this list of Forbes.
Company worth Rs 2000 crore created in just 12 months
In just a year since its inception in 2021, Misbah transformed his fintech startup, Jar, into a venture valued at over Rs 2000 crore, propelling the name ‘Jar’ into global recognition.
At present, more than 11 million people have registered themselves on the ‘Jar’ application, and in the very first year of its business, ‘Jar’ had received an investment of 226 million dollars from foreign investors and till now it has received an investment of $58 million from investors.
Due to this, the value of Misbah’s ‘Jar’ startup today has reached more than Rs 2000 crore. Today Misbah has achieved success because he did not give up after failure and stuck to his goal of doing business.
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FAQs For Jar Success Story
Who is Misbah Ashraf?
Misbah Ashraf is the founder of the successful fintech startup ‘Jar.’ He hails from the Nalanda district of Bihar, India, and comes from a middle-class background. Despite facing initial challenges, Misbah’s determination and entrepreneurial spirit led him to establish ‘Jar’ and achieve remarkable success.
What is Jar?
‘Jar’ is a fintech startup founded by Misbah Ashraf. It provides financial facilities to users, and within just a year of its inception in 2021, the company’s valuation surpassed Rs 2000 crore. ‘Jar’ has gained global recognition and has over 11 million registered users on its application.
How did ‘Jar’ turn Misbah into a success story?
Despite facing setbacks in his initial ventures, Misbah Ashraf persisted and, in 2021, founded ‘Jar’ in Bengaluru. ‘Jar’ quickly gained prominence in the fintech sector, attracting significant investments. Within a year, the company’s valuation exceeded Rs 2000 crore, making Misbah a success story in the business world.
How many users are currently registered on the ‘Jar’ application?
‘Jar’ has attracted over 11 million users to its application. The platform’s popularity and success can be attributed to its financial services that have resonated with a broad user base.
What is the official website of ‘Jar’?
The official website of ‘Jar’ is https://myjar.app/.
What is the net worth of Misbah Ashraf?
According to reports, Misbah Ashraf’s net worth is around Rs 165 crore.
What is the revenue of Jar Company this year?
This year in 2023, the revenue of Jar company will be more than 5.7 million dollars.
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