Jar Success Story: In the world of business and startups, you may have heard the stories of many successful startups, but today we bring you a success story of a startup that, despite multiple failures in life, has built a company worth 2000 crore rupees. We are talking about Misbah Ashraf, originally from Bihar, who started a fintech startup called ‘Jar’ and today, his ‘Jar’ company is famous not only in India but also worldwide. It is worth noting that it is through this startup that everyone knows the name of Misbah Ashraf today.
Misbah Ashraf: The Jar Success Story
Misbah Ashraf hails from the Nalanda district of Bihar, India, from a middle-class family. His father was a school teacher and his mother was a homemaker. Due to coming from a middle-class family, Misbah started working at a young age to earn money. With the belief that he would find success through business, Misbah dropped out of college and started a social payment venture called ‘Cibola’ with a friend from IIT Delhi.
Initially Failing: Jar Success Story
Misbah’s payment venture business did not do well, leading him to consider closing it. He then started another business in 2017, a beauty and fashion platform called ‘Marsplay’. The Marsplay startup also received funding in two rounds from investors and was doing well until the COVID-19 pandemic caused significant losses, forcing Misbah to sell the startup to the ‘FOXY’ company.
Jar Made Him a Hero
Despite not finding success in his first two startups, Misbah did not give up and in 2021, he started the ‘Jar’ startup in Bangalore. Jar is a fintech startup that provides financial services to people, and it has turned Misbah into a hero. It is worth mentioning that Misbah’s name is also on the “Forbes 30 Under 30” list for 2023, making him the only person from Bihar to be included in this list by Forbes.
Building a 2000 Crore Company in Just 12 Months
In 2021, within 12 months of starting Jar, Misbah had built a startup worth more than 2000 crore through his fintech startup. Currently, the ‘Jar’ application has been registered by over 11 million people. Within the first year of its business, ‘Jar’ received a $22.6 million investment from foreign investors, and so far, the company has secured a total investment of $58 million from investors. This has led to Misbah’s ‘Jar’ startup being valued at more than 2000 crore rupees. Misbah’s success comes from not giving up after failure and sticking to his business goals.
Commonly Asked Questions: Jar Success Story
- Misbah Ashraf’s Networth: According to reports, Misbah Ashraf’s net worth is approximately 165 crore rupees.
- Jar Company’s Revenue This Year: In 2023, the Jar company’s revenue is just over 5.7 million dollars.
Conclusion
In conclusion, the success story of Misbah Ashraf and his startup “Jar” is a testament to perseverance, determination, and innovation. Despite facing setbacks in his previous ventures, Misbah continued to pursue his entrepreneurial goals and eventually built a company worth over 2000 crore rupees. His ability to bounce back from failures and create a successful FinTech startup has not only earned him recognition in India but also on a global level, as evidenced by his inclusion in the Forbes 30 Under 30 list. Misbah’s story serves as an inspiration to aspiring entrepreneurs, highlighting the importance of resilience and unwavering dedication in the face of challenges. The exponential growth of “Jar” and the positive impact it has made on millions of users is a reflection of Misbah’s vision and leadership. His journey exemplifies the potential for success that lies in the realm of entrepreneurship, and it is a testament to the boundless opportunities that await those who dare to dream and persevere.
