Meet Bihar college dropout who built Rs 2463 crore firm in 1 year, failed twice

Misbah Ashraf was born and brought up in Bihar. He was born into a middle-class family. His father is a teacher whereas his mother is a home-maker. Ashraf dropped out of college in the first year to become an entrepreneur -- Cibola. 

The company shuttered after a few months. Four years later, he launched yet another start- up called Marsplay. It was acquired after it registered an aggressive growth.

In May 2021, he launched his third venture called Jar. The central idea behind the startup is to save and invest. After 18 months, it had crossed 11 million users. The fintech firm had raised 58 million dollars in funding.

After dropping out of college, he worked at companies like Pulse.qa (YC), Pursuit, Toymail (YC), Spangle etc. 

Just over a year later, Ashraf's Jar raised 22.6 million dollars at a whopping valuation of 300 million dollars (Rs 2463 crore).

It is one of the few companies that had struck a multi-million dollar deal at a time when funding had slowed down. 

A few months ago, the company had struck a valuation of 200 million dollars.

Nishchay AG is his co-founder.

He is the chief product officer of the company.

This is his third company.

He was adjudged 30 Under 30 by Forbes in the Finance and Venture Capital (2023).