Jiraaf, an alternative investment platform has raised $7.5 million in its Series A funding round from Accel Partners, Mankekar Family Office, Aspire Family Office (Dr Bhaskar Shah), and other investors.
Many angel investors including Capital A, PharmEasy’s founder Siddharth Shah, Zetwerk’s founders, LivSpace’s co-founder Ramakant Sharma, Anuj Jhaveri (Director at Barclays, Hong Kong), and Shantanu Garg (Managing Director and Partner, Boston Consulting Group) also participated in this round.
The company plans to use the funds to build a team to seize high-quality opportunities, strengthen customer service, and enhance technical capabilities.
The Bengaluru-based Jiraaf was founded in September 2021 by finance professionals Saurav Ghosh and Vineet Agrawal, It claims to offer high-yield non-market linked investment opportunities, with returns in the range of 8-20 per cent and tenures between 30 days to three years.
“We curate exclusive alternate fixed income products and through rigorous risk assessment and diligence ensure that the investors have access to high-quality opportunities. Our vision is to build a convenient and credible platform for everything fixed income for investors”, said, Saurav Ghosh, Co-founder of Jiraaf.
The company aims to help individual investors earn better returns by participating in high quality opportunities beyond equities, fixed deposits, real estate and gold.
“Over the last eight months, we have originated opportunities over Rs 250 crore and have more than 10,000 registered investors. The funds raised in this round are going to be used to further build our team for sourcing high-quality opportunities, robust credit assessment, and strengthening our customer service. We are looking to achieve a transaction volume of Rs 1,000 crore by this year-end, and an investor base of 100,000”, said, Vineet Agrawal, Co-founder, Jiraaf.
“There is a very strong demand for alternate fixed-income products among retail investors. India has nearly $2 trillion invested in fixed deposits and the mutual fund industry is sized at $0.5 trillion which saw a 3X growth in the last five years. Jiraaf is addressing a large market gap by offering diversified fixed income products which can form a meaningful part of every investor’s portfolio over the next decade, especially in the current and forecasted macro-economic scenario. Saurav and Vineet have sound ability to understand nuances of financial products, have built a strong team and are transforming access to such new age products through a simple and transparent platform”, said, Barath Shankar Subramanian, Partner at Accel Partners.
With Jiraaf, get 8 – 20% fixed returns annually with minimum investment of only INR 1,00,000. Their mission is to democratize investing in alternative asset classes that are currently available only to HNIs/ Institutions.
- Invoice discounting
- Venture Debt
- Corporate Debt
- Asset Backet Leasing
- Revenue Based Financing