KPMG and HSBC report ranks Jar, Indias first micro-savings platform, among the Leading 100 Emerging Giants in Asia Pacific

August 25: A comprehensive annual report co-authored by experts at KPMG and HSBC, places Bengaluru-based fintech start-up Jar (the nation’s first micro savings and investments platform) on a select list of ‘Leading 100 Emerging Giants in Asia Pacific’, 2022. The report, which surveys over 11 countries, takes an in-depth look at new economy businesses across the region which are believed to make a lasting impact on the global business landscape over the next decade.

As the report states, consideration for placement on this list is made after intensive market analysis including metrics such as valuations and venture capital received, as well as KPMG and HSBC’s assessment of the future growth potential of these companies.

Jar recently raised $22.6 million as a part of its Series B funding round led by Tiger Global, at a valuation of $300 million. Jar will, in part, use the fresh funds to expand into multiple financial services like facilitating lending, selling insurance products and advising people on investing in financial products from mutual funds to fixed deposits.

In the report, Dan Roberts, Global Head of Business Banking, HSBC, says: “With a fast growing and digitally native middle class, Asia Pacific will continue to be the world’s growth engine. Combined with a very dynamic business environment, this presents tremendous growth opportunities for businesses that can leverage the rapid digitization of this vast ecosystem.”