Bengaluru-based savings and investment app, Jar has onboarded Initiative Media, the full-service media arm of Mediabrands India as its media agency on record following a multi-agency pitch.
The account will be managed by the agency’s Bengaluru office, with a focus on both digital and offline media duties.
Initiative Media said in a statement, “The agency is tasked with positioning the brand as the ultimate savings platform in the fintech category. Jar aspires to carve out a unique niche and hold a substantial market value in the fintech space.”
Jar enables its userbase to rediscover the undeniable, cumulative advantages of saving every single day by way of rounding off spare change from one’s digital transactions and putting some money aside as investment.
While Jar is currently using digital gold that is backed by physical gold of the same amount as its financial instrument, they aim to broaden their offerings and explore additional investment avenues to expand its userbase. The app has amassed over 4 million users, 99% of whom are investing in any asset class for the first time.
Nishchay AG, Co-founder and CEO, Jar, said, "We are joyous to share that Initiative will be Jar’s media agency. Together, we are on a mission to reach the corners of the country to become “har ghar ka Jar”. In the last few years, Indians’ rate of saving has declined drastically. The pandemic was an added factor. The fintech space is what we need to adapt to at the moment. With this partnership, we aim to expand on a wider prism and reach our customers to convey the importance of saving to common Indians."
Priya Iyer, EVP - South, Initiative, said, “We see great potential in Jar’s educated approach towards daily savings and intend on taking it to a larger audience by elevating its brand story. Their revolutionary approach coupled with our seasoned expertise in dealing with new-age clients will surely make this journey a combined success.”
Vaishali Verma, CEO, Initiative, said, “We are equally honoured and excited to be joining hands with Jar. I am confident that our proven capabilities for building client-centric prospects in the technology domain, will help Jar achieve its desired business outcomes and open further growth avenues.”