Alternative investment platform Jiraaf bags $7.5 million funding from Accel and others
- ByStartupStory | June 9, 2022
Jiraaf, a Bengaluru-based investing platform, raised $7.5 million in a Series A round headed by Accel Partners, Mankekar Family Office, Aspire Family Office (Dr Bhaskar Shah), and other angel investors on Wednesday. Several angel investors participated in this round, including Capital A, the creators of PharmEasy, Ramakant Sharma (Co-founder, Livspace), and the founders of Zetwerk, Anuj Jhaveri (Director at Barclays, Hong Kong), and Shantanu Garg (Managing Director and Partner, Boston Consulting Group).
Jiraaf Co-Founder Saurav Ghosh stated that the company has curated unique alternative fixed income products and guarantee that investors have access to high-quality possibilities through thorough risk assessment and research. The company’s goal is to provide a user-friendly and trustworthy platform for all things fixed income for investors.
Jiraaf, which was founded in September 2021 by financial experts Saurav Ghosh and Vineet Agrawal, claims to provide high-yield non-market related investment possibilities with yields ranging from 8% to 20% and tenors ranging from 30 days to three years. The freshly collected funds will be utilised to establish a team to identify high-quality opportunities, expand customer service, and improve tech skills.
According to Barath Subramanian, a partner at Accel Partners said that alternative fixed-income instruments are in high demand among individual investors. Fixed deposits account for approximately $2 trillion in India, while the mutual fund sector is worth 500K trillion and has grown thrice in the previous five years. Jiraaf is filling a significant market void by providing diversified fixed income products that may be a valuable addition to any investor’s portfolio over the next decade, especially given the present and projected macroeconomic environment. Saurav and Vineet have a great grasp of financial product intricacies, have developed a strong team, and are converting access to such new age products via a simple and transparent platform.
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