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Exclusive: Wealthtech startup Jiraaf to raise fresh money from Accel and others

EntrackrEntrackr · 13d ago
Exclusive: Wealthtech startup Jiraaf to raise fresh money from Accel and others
Medial

Exclusive: Wealthtech startup Jiraaf to raise fresh money from Accel and others Fixed income platform Jiraaf is set to raise nearly Rs 44 crore (approximately $4.7 million) in an extended Series B funding round from a mix of existing and new investors. This significant fundraise comes for the five-year-old startup after two and a half years. According to its regulatory filing, the company will allot a total of 47,576 Series B5 compulsorily convertible preference shares (CCPS) with a face value of Rs 8,022 each, aggregating to Rs 38.16 crore. Aspire Financial will infuse nearly Rs 20 crore, while Accel will invest Rs 18 crore in the new round. Angel investor Anand Shah is also participating with an investment of about Rs 16.7 lakh. In a separate tranche, Hindustan Media Ventures will invest Rs 5.6 crore, including 6,755 Series B4 CCPS and one equity share, taking the total amount raised through these filings to Rs 43.76 crore. Founded in September 2021 by Saurav Ghosh and Vineet Agrawal, Jiraaf offers fixed income investment opportunities through a digital platform. It provides products such as treasury bills, corporate bonds, asset leasing, and venture debt, with yields ranging from 7% to 18% and tenures between 30 days and 3 years. Prior to this, Jiraaf raised a $8.7 million round co-led by Accel and Harmony, along with Capital A and other angel investors. On the financial side, the company’s operating revenue rose 14% to Rs 20 crore in FY25 from Rs 17.5 crore in FY24. Jiraaf also reduced its losses by 17% to Rs 25.75 crore during the same period. It competes with the likes of Wint Wealth, IndiaBonds and Stable Money, among several others.

Knight Fintech raises $23.6 Mn in Series A round led by Accel

EntrackrEntrackr · 3m ago
Knight Fintech raises $23.6 Mn in Series A round led by Accel
Medial

Knight Fintech raises $23.6 Mn in Series A round led by Accel Mumbai-based banking infrastructure startup Knight Fintech has raised $23.6 million in a funding round led by Accel, with participation from IIFL and Rocket Capital. Existing investors Prime Venture Partners, 3One4 Capital, Commerce VC, and Trifecta Capital also took part in the round. Knight Fintech’s total funding now stands at $30 million. The proceeds will be used to strengthen product capabilities and support international expansion, targeting markets across Asia Pacific and the Gulf region. Founded in 2019, Knight Fintech builds core infrastructure that connects banks, lenders, platforms, and borrowers to enable capital flow across the financial ecosystem. The firm operates products spanning co-lending, digital lending, embedded finance, and treasury management. Its co-lending stack allows banks and large NBFCs to partner with other institutions to originate and distribute loans. It works with financial institutions such as Bank of Baroda, Bank of India, ICICI Securities, IIFL Finance, Bajaj Auto, Muthoot Fincorp, and NABARD. Knight Fintech currently supports over 150 partnerships across 85 lenders. According to the company, its platform has facilitated more than $7 billion in loan disbursements and manages over $5 billion in active assets. Its treasury management software handles liquidity, risk, borrowings, and investments, with assets worth over $125 billion managed through the system. Over the next four years, Knight Fintech aims to scale annual revenues to $85–100 million and expand assets under management beyond $50 billion.

ETtech Deals Digest: Startup funding drops 54% on year to $77 million this week

Economic TimesEconomic Times · 1y ago
ETtech Deals Digest: Startup funding drops 54% on year to $77 million this week
Medial

- Startups raised $77 million between September 28 and October 4, a 54.5% decrease from the same period last year. - This week, startups secured funding through 14 rounds, compared to 44 rounds in the year-ago period. - MStack, a specialty chemicals startup, raised $40 million in a funding round led by Lightspeed Venture Partners and Alpha Wave Global. - Basic Home Loan, a fintech startup, raised $10.6 million in a series B funding round led by Bertelsmann India Investments. - Troo Good, a snack brand, raised $8.6 million in a funding round led by Oaks Asset Management. - Str8bat, a sports technology startup, raised $3.5 million in a series A funding round led by Exfinity Venture Partners.

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