Jiraaf, a fixed income startup based in Bengaluru, secured $8.7 mn in series B round of funding. Existing investors Accel and Harmony Partners led the round.
A number of angel investors as well as the regional early-stage seed fund Capital A took part.
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“We will be using this money to mainly build our team, improve customer service across categories of business and also for originating more customers,” Jiraaf cofounder Saurav Ghosh said.
The current products offered by Jiraaf include Venture debt/Revenue-based financing, Invoice discounting, Real-estate linked debt, Unlisted corporate debt, and Debt Linked to Real Estate. Jiraaf manages a platform that enables retail investors to purchase corporate debt issuances and earn yields of about 12.5% on average.
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Opportunities offered by Jiraaf typically have an annualised IRR of 8 to 20 percent, tenors of up to three years, and a minimum investment of 1 lac.
About Jiraaf
Jiraaf is a digital platform for high-yield alternate fixed-income investment opportunities and provides easy access to modern-day investments. Jiraaf provides exclusive and curated opportunities across varied fixed-income product categories.
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