Fintech Staff Writer
Jiraaf was founded by Vineet Agrawal and Saurav Ghosh in September 2021, has positioned itself as a trustworthy fintech platform for alternative fixed-income options, repaying INR 550 cr with no defaults or delays. As of January 2023, Jiraaf, one of India’s fastest-growing high-yield alternative investment platforms, had had a growth rate of more than 15x and had deployed more than INR 1,000 cr in capital. Jiraaf is the first horizontal fixed-income platform that allows investors with a minimum investment of INR 1 lakh to participate digitally. Over a time frame spanning from 30 days to 3 years, investors can receive yields in the range of 8% to 20%.
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Jiraaf is cautious when selecting investments. It collaborates with carefully chosen borrowers across the yield spectrum, enabling investors to build diversified portfolios with strong holdings. Jiraaf has a proven track record of making INR 550 cr+ repayments on time and without any defaults. Jiraaf launched in September 2021 and raised $7.5 million in fundraising in April 2022, with Accel Partners and the Mankekar Family Office serving as the lead investors. With the stock markets experiencing extreme volatility, 2022 has been difficult for investors. There is a critical need for investment options that are predictable, transparent, and capable of generating positive returns given the ongoing uncertainty around a number of factors, such as rising inflation and difficult macroeconomic growth. According to studies, adding 15–20% of alternative investments to your investing portfolio can boost portfolio results. Jiraaf has a clear understanding of this demand and is quickly establishing itself as a leader in the alternative investing sector.
“In today’s market environment, retail investors have a growing appetite for alternative fixed-income products, and we believe there is a gap in the market for products vetted by professionals. Jiraaf has effectively democratised the debt market and has provided access to a wide array of products for wealth creation beyond the traditional asset classes. This milestone achievement aligns with what Saurav and Vineet were set to achieve. We are proud to be part of this journey of Jiraaf in revolutionizing wealth creation.” – Barath Shankar Subramanian, Partner at Accel.
Adding further, Saurav Ghosh, Co-founder, Jiraaf said, “We are extremely happy to have crossed the INR 1000 crore investment mark. The trust of our users remains our biggest asset. It gives us great confidence that 93% of our customers are return investors. Our endeavour in the next 12 months is to grow our user base and increase our monthly run rate of investments from 100 cr to 300 cr. Bringing new opportunities and building a robust digital platform will be our key focus areas in the next 1-2 quarters. We are grateful to our investors Accel partners, Aspire family office, Mankekar family office and others who have supported us through our journey.
Speaking about this, Vineet Agrawal, Co-founder, Jiraaf, said, “Investments are key to financial wealth creation, and in the modern era, alternative investment options have emerged as great opportunities for those seeking predictable & high returns. While equity markets have seen enormous participation from the public, fixed income remains underpenetrated. Our mission at Jiraaf is to make fixed-income opportunities mainstream by innovating and making them more accessible. We are thankful to our partners like Caratlane, Homecredit, Everest Fleet and Rupeek among others for sharing our journey. We have created a strong team across functions including technology, investments, and credit risk to present a wide range of curated investment opportunities.”
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