Jiraaf, an alternative investment platform, is in talks to raise Rs 85 crore (around $10 million) from existing investors such as Accel and US-based Harmony Partners in its Series C funding round, sources privy to the developments told Indian Startup News (ISN).
Started by Saurav Ghosh and Vineet Agrawal in September 2021, Jiraaf provides investors a list of opportunities across fixed-income categories such as structured debt instruments
Jiraaf, an alternative investment platform, is in talks to raise Rs 85 crore (around $10 million) from existing investors such as Accel and US-based Harmony Partners in its Series C funding round, sources privy to the developments told Indian Startup News (ISN).
Started by Saurav Ghosh and Vineet Agrawal in September 2021, Jiraaf provides investors a list of opportunities across fixed-income categories such as structured debt instruments, corporate bonds and government securities.
Those are options besides other alternative investment products like invoice discounting, real-estate linked debt, asset-backed leasing, and venture debt financing.
“Accel is likely to put in $5 million (around Rs 42.5 crore) and Harmony will put the other half which is $5 million (around Rs 42.5 crore) to double down on their existing bets and help the company scale,” one the sources said.
Jiraaf, Accel and Harmony did not respond to ISN’s emails.
Once complete, this will be the company’s second major round in just over a year’s time. The company raised $8.7 million in its Series B round led by Accel and Harmony Partners in October 2023.
Investors have been rushing to fund startups in the alternative investment space. Apart from Jiraaf, others like The Fixed Income, BondsIndia, Grip Invest, BondsKart, Stable Money, AltInvest, Wint Wealth, IndiaBonds, GoldenPi, Bond Bazar, Aspero are also democratising the fixed income investment products for retail customers through a customer-friendly digital platform, which is especially a hit among new-age Gen Z investors are used to managing their money through a phone.
RTP Global, the renowned investor, is particularly active in the space having backed companies such as Stable Money in a $15 million round and earlier completing a $4 million round in another fixed income platform Dexif in May. RTP Global already backs other fintech giants like CRED.
Similarly, Grip Invest also secured $10 million from debt provider Stride Ventures earlier this year.
The space, which is full of new-age players and is prone to cut-throat competition, will see more companies enter the arena, raise funds and also shut shop all in a bid to outpace their peers.
