AI Growth Pvt. Ltd, the company behind the fixed-income investment platform Jiraaf, has successfully raised $8.7 million (₹72.3 crore) in its Series B funding round. Harmony Ventures and Accel led this round, showcasing a mix of new and existing investors supporting Jiraaf’s growth.
This funding round also welcomed participation from Capital A, an early-stage VC firm, and undisclosed angel investors. Jiraaf, founded in 2021 by Saurav Ghosh and Vineet Agrawal, aims to expand its offerings and grow its team with the newly acquired capital. Their ambitious goal is to reach 300,000 users and facilitate ₹10,000 crore in investments.
Jiraaf’s platform curates a range of fixed-income investment opportunities, including treasury bills, corporate bonds, asset leasing, and venture debt. This diversity allows investors to build portfolios with yields ranging from 7% to 18%, spanning tenures from 30 days to 3 years.
With approximately 125,000 registered users and ₹2,300 crore worth of investments originated to date, Jiraaf is making waves in the fixed-income investment landscape. Saurav Ghosh, co-founder, emphasized that this fund infusion aligns with their commitment to delivering high-quality fixed-income instruments transparently and conveniently.
Prior to this Series B round, Jiraaf had raised $7.5 million in a Series A round led by Accel, Mankekar, and Aspire family offices. It also witnessed participation from Capital A, PharmEasy founders, and other prominent figures.
Jiraaf has already formed partnerships with about 50 borrowers, including Caratlane, Homecredit, Edelweiss, Zuari International, Vivriti Capital, Prabhudas Liladhar, and Everest Fleet.
Accel, a notable venture capital firm with a substantial portfolio of over 200 investments and 22 unicorns, co-led the seed funding round of wealthtech startup Aaritya Tech and participated in the extended Series C funding round of B2B seafood company Captain Fresh.
Jiraaf is creating a buzz in the financial world! They recently secured a whopping $8.7 million in funding to expand their fixed-income investment platform and help more people grow their wealth. Best wishes to the Jiraaf team!
~ Dr Shishir Gupta founder & CEO of StartupLanes
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