Jiraaf: A Leading Fixed Income Platform Secures Rs 44 Crore in Series B Funding

Jiraaf, the renowned fixed income platform, is preparing to raise around Rs 44 crore (approximately $4.7 million) in an extended Series B funding round. This fundraising effort involves a combination of both existing and new investors, marking a pivotal moment for the startup after two and a half years of operations.

Funding Details of Jiraaf’s Series B Round

As per its regulatory filing, Jiraaf intends to issue a total of 47,576 Series B5 compulsorily convertible preference shares (CCPS) at a face value of Rs 8,022 each, amounting to Rs 38.16 crore. Aspire Financial has committed nearly Rs 20 crore, while Accel plans to invest Rs 18 crore in this fundraising round. Additionally, angel investor Anand Shah is participating with an investment close to Rs 16.7 lakh.

Furthermore, in a different tranche, Hindustan Media Ventures is set to invest Rs 5.6 crore, which includes 6,755 Series B4 CCPS and one equity share. This brings the total capital raised through these filings to Rs 43.76 crore.

About Jiraaf and Its Offerings

Founded in September 2021 by Saurav Ghosh and Vineet Agrawal, Jiraaf focuses on providing fixed income investment opportunities via its digital platform. The platform offers various products, including treasury bills, corporate bonds, asset leasing, and venture debt, featuring yields that range from 7% to 18% and tenures spanning from 30 days to 3 years.

Previous Funding and Financial Performance

Previously, Jiraaf successfully raised $8.7 million in a round co-led by Accel and Harmony, in conjunction with Capital A and several angel investors. On the financial front, the startup’s operating revenue experienced a 14% increase, reaching Rs 20 crore in FY25, up from Rs 17.5 crore in FY24. Notably, Jiraaf also managed to lower its losses by 17%, reducing them to Rs 25.75 crore during the same timeframe.

Competitors in the Market

In the competitive landscape, Jiraaf faces competition from several significant players, including Wint Wealth, IndiaBonds, and Stable Money, among others.