Sunday, June 23, 2024
Outlook India
Outlook Business

Fixed-Income Investment Platform Jiraaf Raises $8.7 Million Led By Accel, Harmony Partners

Jiraaf had earlier raised  $7.5 million in a Series A round led by Accel in April 2022

Fixed-Income Investment Platform Jiraaf Raises $8.7 Million Led By Accel, Harmony Partners
POSTED ON October 12, 2023 5:01 PM

Fixed-income investment solution provider Jiraaf has raised  $8.7 million in a latest funding round jointly led by existing investor Accel and US-based Harmony Partners. 

AI Growth, which owns Jiraaf, said that the series B round also saw participation from Capital A, the Mankekar family office, and angel investors like Siddharth Shah (co-founder of Pharmeasy) and Ramakant Sharma (co-founder of Livspace).  

Founded by Saurav Ghosh and Vineet Agrawal in September 2021, Jiraaf offers curated fixed-income investment opportunities to customers. 

"Over the last two years, our endeavour has been to enable investors to deepen their fixed income portfolio by curating high-quality opportunities and making them easily accessible. We have been able to build a robust tech platform that allows seamless transactions and portfolio tracking," said co-founder Ghosh.   

Barath Shankar Subramanian, partner at Accel, said, "Cumulative household savings in India are at Rs 13.75 lakh crore with immense potential for allocation to credible fixed income products. 

With over 125,000 registered users, Jiraaf has, to date, facilitated investments worth Rs 2,300 crore and repaid Rs 1,500 crore in capital to customers, offering them the opportunity to build portfolios with yields ranging from 7 to 18 per cent for a period of 30 days to 3 years.  

Accel has invested in over 200 start-ups including 22 unicorns. Harmony Partners has investments across 100-plus companies in excess of  $1 billion. 

  • Related Articles

    AuditCue is a SaaS product that reimagines how risks, controls & audits work together. It removes friction from audits and empowers auditors

    AuditCue Raises $1.5 Million In Seed Round Led By Kalaari Capital

    Direct-to-consumer lifestyle brand eské was founded in 2018 by Shivam Khanna, a serial entrepreneur with over 10 years of experience in manufacturing.

    eské Raises $1.5 Miliion In Pre-Series A Funding Led by Mistry Ventures

    Mitsubishi UFJ Financial Group, Inc, BNP Paribas Cardif through its Insurtech fund managed by Eurazeo and Beams Fintech Fund join the cap table

    InsuranceDekho Raises $60 Million In Series B Funding, Garners $200 Million In Funding This Year