In a significant move that underscores the growing demand for innovative investment opportunities, Jiraaf, a fixed-income platform, it recently announced its successful Series B funding round, raising an impressive $8.7 million. This financing round was co-led by esteemed investors Accel and Harmony Partners, with the participation of Capital A and several angel investors. Founded in September 2021 by Saurav Ghosh and Vineet Agrawal, Jiraaf has quickly gained traction in the financial landscape by providing a user-friendly digital platform for curated fixed-income investments.
A Unique Investment Platform
Jiraaf aims to revolutionize fixed-income investment by offering a comprehensive range of opportunities through its digital platform. The platform provides access to diverse fixed-income products, including treasury bills, corporate bonds, asset leasing, and venture debt. These offerings allow investors to craft portfolios with yields ranging from 7% to 18% and tenures spanning from 30 days to 3 years. Jiraaf’s commitment to transparency and convenience has made it a go-to choice for secure and profitable fixed-income investment opportunities.
The Vision of Jiraaf
Saurav Ghosh, one of the co-founders of Jiraaf, expressed his commitment to providing high-quality fixed-income instruments transparently and conveniently. With the recent influx of funds, Jiraaf is poised to further its mission of reshaping the landscape of fixed-income investments. The platform is dedicated to offering individuals and organizations the tools they need to make sound financial decisions, thereby democratizing access to fixed-income investments for a wider audience.
Impressive Growth and Performance
Jiraaf’s impressive journey has garnered attention, boasting over 125,000 registered users. The platform has facilitated investments totalling over Rs 2,300 crore and, notably, repaid Rs 1,500 crore in capital to investors without default. This outstanding performance highlights the company’s dedication to risk management and reliability.
Building Strong Partnerships
Jiraaf’s journey is marked by a series of strategic partnerships with over 50 borrowers, including well-known names such as Caratlane, Homecredit, Edelweiss, Zuari International, Vivriti Capital, Prabhudas Liladhar, and Everest Fleet. These partnerships indicate Jiraaf’s growing influence and reputation in the fixed-income investment space, cementing its position as a trusted platform for investors and borrowers.
Continued Success and Growth
This recent Series B funding success follows a $7.5 million Series A round led by Accel in June 2022. The Series A round also saw the participation of the Mankekar family office, Capital A, and notable angel investors such as Siddharth Shah (co-founder of Pharmeasy) and Ramakant Sharma (co-founder of Livspace). These funding rounds signify the growing confidence in Jiraaf’s business model and the potential for sustained growth.
Accel’s Ongoing Commitment
Accel, one of the co-leaders in the Series B round, is a notable player in the Indian venture capital scene. The firm recently announced its seventh India-focused fund worth $650 million to support early-stage startups. Accel’s involvement in Jiraaf underscores its commitment to fostering innovation and supporting promising ventures in the Indian startup ecosystem.
Jiraaf’s recent Series B funding success is a testament to the platform’s potential and the increasing appetite for diverse investment opportunities in the fixed-income sector. With its user-friendly digital platform and unwavering commitment to transparency, Jiraaf is poised for further growth and influence in the financial industry. As the platform expands its offerings and partnerships, it promises to bring even more accessible and secure fixed-income investment opportunities to a broader audience.
