Inspirational Stories: India has consistently generated a high number of wealthy businessmen with million-dollar concepts and a love for their ventures. Misbah Ashraf is another such entrepreneur. He founded the Jar platform, which teaches middle-class Indians how to save and invest.
Misbah Ashraf’s Jar Platform Challenges Gold-Centric Approach in Indian Households
How Indian households view gold as a conventional investment choice forms the basis of the company. But Ashraf’s road to success was not straightforward. Misbah Ashraf is a resident of the Nalanda area of Bihar, where both his parents are teachers and his mother works as a homemaker. Despite their numerous financial challenges, Misbah always aspired to be successful.
Misbah Ashraf’s Journey from Cibola’s Setback to Jar’s Triumph
Ashraf left school in his first year to start a business called Cibola, which collapsed after a short period of time. He started Marsplay, a new business, four years later. After Marsplay’s rapid expansion, Misbah Ashraf made the decision to start his third business, Jar, in the midst of the epidemic. Just 18 months after its launch, the platform created by Misbah Ashraf had 11 million users, and the business had raised USD 58 million—roughly Rs 476 crore in Indian rupees—in finance. At a valuation of $300 million USD, or Rs 2463 crore, Misbah Ashraf eventually received further finance for his startup business Jar. Misbah reportedly has a net worth of almost $20 million, or nearly Rs 164 crore, according to media sources.
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