SUMMARY
Jiraaf’s round was led by Accel Partners, Mankekar Family Office, and Dr. Bhaskar Shah from Aspire Family Office
Jiraaf will deploy funds for brand building, strengthening its tech infra, fortify its customer service and hiring talent across verticals
The startup said it has created over INR 250 Cr investment opportunities and registered more than 10,000 investors on its platform in the last eight months
Alternate investment plan offering fintech startup Jiraaf has raised $7.5 Mn through equity financing in its Series A funding round.
Jiraaf’s round was led by Accel Partners, Mankekar Family Office, and Dr. Bhaskar Shah from Aspire Family Office.
The round saw participation from angel investors including founders of Capital A, PharmEasy, Livspace, and Zetwerk. Besides, Anuj Jhaveri from Barclays, and Shantanu Garg from BCG also participated in Jiraaf’s funding round.
Jiraaf will deploy funds for brand building, strengthening its tech infra, fortifying its customer service and hiring talent across verticals.
Founded in 2021 by Saurav Ghosh and Vineet Agarwal, Jiraaf creates investment opportunities for organisations that need working capital to run their businesses. Later, these investment opportunities are listed on the platform where individual investors can invest in these deals, thereby indirectly offering financial assistance to companies.
Jiraaf offers 8%-20% fixed returns on a minimum investment of INR 1 Lakh. Some of the new-age investment opportunities that it offers include invoice discounting, venture debt, corporate debt, asset-backed leasing and revenue-based financing, as per its LinkedIn profile.
Jiraaf has created over INR 250 Cr investment opportunities and registered more than 10,000 investors on its platform in the last eight months, said the startup in a statement.
It aims to increase its transaction volume to INR 1,000 Cr and grow its investor base to 100K by the end of the financial year.
It faces competition from the likes of Zerodha, Upstox, Groww and Kotak Cherry.
India’s Wealth Management Startup Segment
Wealth management startups have recently gained popularity among people owing to the vast new-age investment opportunities that are being offered. In 2021, fintech startups bagged $8 Bn from investors. Of this, about 19.3% of funding was secured by the investment tech sector (wealth management companies).
According to a report, India’s investment tech market is anticipated to reach over $60 Bn By 2025.
The sector is buzzing with fundraising activities and acquisition deals. In May, wealth management startup AssetPlus secured $3.6 Mn from InCred’s Bhupinder Singh, Rainmatter’ Nithin Kamath, Swaroop Kittu Kolluri, Amit Nanavati, Kedar Kulkarni and Venture Catalysts.
During the same month, financial lending platform CASHe also ventured into the wealth management space by acquiring wealthtech platform Sqrrl while in February, wealth management startup Wealthy bagged $7.5 Mn from Alpha Wave Incubation.
