Total amount raised
$16.1 Millions
Latest funding date
10/1/2023
Location
Jiraaf has successfully raised funding from notable investors, including co-founders of Pharmeasy and LivSpace, as well as a venture capital firm and a family office. The platform offers individual investors the opportunity to earn returns by participating in high-quality investment opportunities beyond traditional equities and fixed deposits.
Keep reading to explore the intricacies of Jiraaf's fundraising journey and the investors backing this innovative platform.
What Is Jiraaf?
Jiraaf, founded in 2021, is an investment firm based in Bengaluru, Karnataka, India. The company focuses on providing individual investors with high-quality investment opportunities beyond traditional equities and fixed deposits.
Co-founded by industry veterans, Jiraaf offers a digital platform that facilitates access to diverse investment products, aiming to deliver high returns, diversification, and tax efficiency. The platform primarily targets debt financing in sectors like construction, property development, and real estate.
With a team of 51-100 employees, Jiraaf is dedicated to helping retail investors achieve their financial goals through innovative and secure investment solutions.
How Much Funding Has Jiraaf Raised?
- Series A
- Amount Raised: ₹577M (approximately $7.5M)
- Date: June 2022
- Lead Investors: Accel, Aspire Family Office, Mankekar Family Office
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial growth and development, including building a robust tech platform and expanding the user base.
- Series B
- Amount Raised: $8.7M
- Date: October 2023
- Lead Investors: Accel, Harmony Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand teams across technology, investment, and customer care, and to increase the user base to over 300,000.
Total amount raised: $16.2M. Current valuation: Not publicly disclosed.
Key Investors
- Accel
- Details: Accel is a global venture capital firm that partners with exceptional founders with unique insights, from inception through all phases of growth. The firm has a long history of investing in companies that have become category-defining enterprises.
- Investment Focus Areas: Technology, Consumer, Enterprise Software
- Notable Investments: Facebook, Dropbox, Slack
- Harmony Partners
- Details: Harmony Partners is a venture capital firm that provides growth capital to technology companies. The firm focuses on investing in companies that are at the expansion stage and have demonstrated significant market traction.
- Investment Focus Areas: Technology, Healthcare, Consumer Products
- Notable Investments: Etsy, Anaplan, InVision
- Aspire Family Office
- Details: Aspire Family Office is a private investment firm that manages the wealth of high-net-worth families. The firm focuses on long-term investments across various asset classes, including private equity, real estate, and public markets.
- Investment Focus Areas: Private Equity, Real Estate, Public Markets
- Notable Investments: Not publicly disclosed
- Mankekar Family Office
- Details: Mankekar Family Office is a private investment firm that manages the wealth of the Mankekar family. The firm focuses on strategic investments in high-growth sectors and aims to create long-term value.
- Investment Focus Areas: Technology, Healthcare, Consumer Goods
- Notable Investments: Not publicly disclosed
- Capital A
- Details: Capital A is an investment firm that focuses on early-stage and growth-stage investments across various sectors. The firm aims to support innovative companies with the potential for significant impact and growth.
- Investment Focus Areas: Technology, Consumer Goods, Healthcare
- Notable Investments: Not publicly disclosed
What's Next for Jiraaf?
Jiraaf stands at the cusp of significant growth, with opportunities in unlisted corporate debt, invoice discounting, and real-estate linked debt. The platform has already originated Rs 2,300 crore of investments and aims to reach Rs 10,000 crore in the next 24 months. This ambitious target is supported by a growing interest in fixed-income products and a substantial market potential in India, where household savings are at Rs 13.75 lakh crore.
Future fundraising seems likely as Jiraaf continues to expand its user base and enhance its offerings. The company plans to use the recent $8.7 million Series B funding to grow its teams and improve customer service, aiming to attract over 300,000 users. However, challenges such as maintaining zero defaults, scaling operations, and navigating regulatory changes could pose hurdles. Competition from other fintech platforms and the need to ensure high-quality investment opportunities will also be critical as Jiraaf moves forward.
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