Jiraaf is a Bengaluru-based fixed income investment startup that has raised $8.7 million in a Series B funding round led by existing investors Accel and Harmony Partners. The round also saw participation from domestic early-stage seed fund Capital A and a bunch of angel investors.

The startup curates and offers fixed-income investment opportunities through a customer-friendly digital platform. It has onboarded more than 125,000 registered users and originated over INR 2,300 crore worth of investments to date. Jiraaf claims to have repaid INR 1,500 crore of capital to customers with zero defaults to date.

The company plans to use the fresh funds to build its teams across tech, investment, and customer care. It aims to reach more than 300,000 users and facilitate INR 10,000 crore of investment in the next 24 months. Jiraaf also plans to widen its offerings, enabling better diversification and choices for its customers.

The startup's co-founder, Vineet Agrawal, said that the company is committed to making fixed income investments accessible to retail investors. He added that the company is also working on developing new products and features to enhance the user experience.

Jiraaf's Series B funding is a testament to the growing demand for fixed income investments among retail investors in India. The company is well-positioned to capitalize on this trend and become a leading player in the fixed income investment market.