Fixed income platform Jiraaf has announced a successful funding round, raising nearly Rs 44 crore (approximately $4.7 million) in an extended Series B round. The funding comes from a mix of existing and new investors, including Aspire Financial, Accel, angel investor Anand Shah, and Hindustan Media Ventures. This investment marks a significant milestone for the five-year-old startup, which offers fixed income investment opportunities through its digital platform.
Jiraaf, founded in September 2021 by Saurav Ghosh and Vineet Agrawal, provides various investment products such as treasury bills, corporate bonds, asset leasing, and venture debt. These products offer yields ranging from 7% to 18% with tenures between 30 days and 3 years. The company had previously raised $8.7 million in a round co-led by Accel and Harmony.
According to the company’s financial data, Jiraaf reported a 14% increase in operating revenue to Rs 20 crore in FY25 compared to Rs 17.5 crore in FY24. Additionally, the company managed to reduce its losses by 17% to Rs 25.75 crore during the same period. Jiraaf faces competition from players like Wint Wealth, IndiaBonds, and Stable Money in the fixed income investment segment.
Source: Entrackr : Latest Posts