Mumbai: Homegrown 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.

Jar aspires to carve out a unique niche and hold a substantial market value in the fintech space, said the platform in a statement. "Initiative Media is tasked with positioning the brand as the ultimate savings platform in the fintech category," it added.

"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’," said Jar co-founder and CEO Nishchay AG. "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."

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 user base, according to the company.

Talking about the association, Initiative  EVP - South Priya Iyer 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. Its revolutionary approach coupled with our seasoned expertise in dealing with new-age clients will surely make this journey a combined success.”

“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,” added Initiative CEO Vaishali Verma.