Misbah Ashraf: The Visionary from Bihar

Article courtesy: SoftpageCMS.com At 17, Misbah Ashraf was selling t-shirts to his college peers; by 18, he’d waved goodbye to university to chase his entrepreneurial ambitions – a gambit that, when accompanied by a little hustle and heart, produced a fintech empire valued at $300 million. As the co-founder of Jar, a platform revolutionising how millions save and invest, Misbah’s journey proves that a little daring & courage and a heap of self-belief can launch you right into the middle of your dreams. The Spark That Started It All Growing up in a middle-class family, Misbah saw financial struggle up close. Determined to earn his own keep, he launched his first venture at 17, hawking t-shirts to students and graduates while still an undergrad himself. That hustle lit an entrepreneurial fire. In 2013, he left college to start Cibola with friends—a social payment startup designed to simplify small transactions, like splitting a $5 meal. They built a prototype, tested it, and even raised angel funding, but the idea was too early for its time. Without a government payments licence, Cibola folded in just four months. Misbah didn’t flinch. In 2017, he launched Marsplay, a community-led platform where fashion and beauty influencers sold directly to fans. It scaled to over a million users and secured two funding rounds. But when the 2020 pandemic hit, cash dried up, and Misbah sold Marsplay to Foxy, a beauty shopping platform. From both ventures, he learned a hard truth: in startups, you’ve got to play the long game. A Dropout’s Relentless Hustle Now 29, Misbah’s been at it since his teens. At 22, he poured his energy into Cibola, dreaming of seamless peer-to-peer payments. A year later, Marsplay took shape, blending social media with commerce to empower influencers—a million-user hit before its sale. Those early swings weren’t just stumbles; they sharpened a kid from Bihar into a visionary ready for his biggest leap yet. Jar: A Fintech Game-Changer In May 2021, armed with lessons from his past, Misbah teamed up with Nishchay AG to launch Jar. Their mission? Bring back the piggy bank for a new generation. Jar lets users save spare change in digital gold starting at just $0.13, tapping into India’s love for the precious metal. Round up that $2 coffee, and your savings grow—simple yet brilliant. Jar took off like a rocket. Within three months, it had half a million users; today, it boasts over 20 million and handles 300,000 transactions daily. Investors, including Tiger Global and Arkam Ventures, poured $58 million into the platform, valuing it at $300 million in its first year. As Jar’s Chief Product Officer, Misbah isn’t just building an app—he’s driving financial inclusion across India. The Forbes Seal of Approval Misbah’s grit landed him on Forbes’ 30 Under 30 list in 2023 for Finance & Venture Capital—a huge win for a 29-year-old on his third venture. Jar’s not just about numbers, though. “We want to reintroduce this generation to piggy banks,” Misbah says, and with 20 million users saving small, he’s making it happen. Lessons from a Dropout’s Triumph What fuels Misbah Ashraf’s rise? Resilience, for one—he’s turned flops like Cibola into fuel and navigated Marsplay through a global crisis. Then there’s vision: spotting a gap in India’s fintech landscape where millions bank but few invest, and filling it with Jar. His path mirrors icons like Steve Jobs or Bill Gates, showing that a degree isn’t the only road to the top. From Bihar’s dusty streets to Bangalore’s buzzing startup ecosystem, Misbah is proof that unconventional paths can lead to epic wins. It’s not just the $300 million valuation or the digital gold revolution he’s sparking—it’s the message: dream big, start small, and keep going. Next time you round up a $1 snack on Jar, know that there’s a young visionary from Bihar, India behind it, who defied the course that convention had planned for him and boldly laid his own tracks in their place. We’d love your comments on today’s topic! For more articles like this one, click here. Thought for the day: “Innovation is the outcome of a habit, not a random act.” – Sukant Ratnakar

Apr 8, 2025 - 18:09

At 17, Misbah Ashraf was selling t-shirts to his college peers; by 18, he’d waved goodbye to university to chase his entrepreneurial ambitions – a gambit that, when accompanied by a little hustle and heart, produced a fintech empire valued at $300 million. As the co-founder of Jar, a platform revolutionising how millions save and invest, Misbah’s journey proves that a little daring & courage and a heap of self-belief can launch you right into the middle of your dreams.

The Spark That Started It All

Growing up in a middle-class family, Misbah saw financial struggle up close. Determined to earn his own keep, he launched his first venture at 17, hawking t-shirts to students and graduates while still an undergrad himself. That hustle lit an entrepreneurial fire. In 2013, he left college to start Cibola with friends—a social payment startup designed to simplify small transactions, like splitting a $5 meal. They built a prototype, tested it, and even raised angel funding, but the idea was too early for its time. Without a government payments licence, Cibola folded in just four months.

Misbah didn’t flinch. In 2017, he launched Marsplay, a community-led platform where fashion and beauty influencers sold directly to fans. It scaled to over a million users and secured two funding rounds. But when the 2020 pandemic hit, cash dried up, and Misbah sold Marsplay to Foxy, a beauty shopping platform. From both ventures, he learned a hard truth: in startups, you’ve got to play the long game.

A Dropout’s Relentless Hustle

Now 29, Misbah’s been at it since his teens. At 22, he poured his energy into Cibola, dreaming of seamless peer-to-peer payments. A year later, Marsplay took shape, blending social media with commerce to empower influencers—a million-user hit before its sale. Those early swings weren’t just stumbles; they sharpened a kid from Bihar into a visionary ready for his biggest leap yet.

Jar: A Fintech Game-Changer

In May 2021, armed with lessons from his past, Misbah teamed up with Nishchay AG to launch Jar. Their mission? Bring back the piggy bank for a new generation. Jar lets users save spare change in digital gold starting at just $0.13, tapping into India’s love for the precious metal. Round up that $2 coffee, and your savings grow—simple yet brilliant.

Jar took off like a rocket. Within three months, it had half a million users; today, it boasts over 20 million and handles 300,000 transactions daily. Investors, including Tiger Global and Arkam Ventures, poured $58 million into the platform, valuing it at $300 million in its first year. As Jar’s Chief Product Officer, Misbah isn’t just building an app—he’s driving financial inclusion across India.

The Forbes Seal of Approval

Misbah’s grit landed him on Forbes’ 30 Under 30 list in 2023 for Finance & Venture Capital—a huge win for a 29-year-old on his third venture. Jar’s not just about numbers, though. “We want to reintroduce this generation to piggy banks,” Misbah says, and with 20 million users saving small, he’s making it happen.

Lessons from a Dropout’s Triumph

What fuels Misbah Ashraf’s rise? Resilience, for one—he’s turned flops like Cibola into fuel and navigated Marsplay through a global crisis. Then there’s vision: spotting a gap in India’s fintech landscape where millions bank but few invest, and filling it with Jar. His path mirrors icons like Steve Jobs or Bill Gates, showing that a degree isn’t the only road to the top.

From Bihar’s dusty streets to Bangalore’s buzzing startup ecosystem, Misbah is proof that unconventional paths can lead to epic wins. It’s not just the $300 million valuation or the digital gold revolution he’s sparking—it’s the message: dream big, start small, and keep going. Next time you round up a $1 snack on Jar, know that there’s a young visionary from Bihar, India behind it, who defied the course that convention had planned for him and boldly laid his own tracks in their place.

We’d love your comments on today’s topic!

For more articles like this one, click here.

Thought for the day:

“Innovation is the outcome of a habit, not a random act.” – Sukant Ratnakar