Jiraaf has secured $8.7 million in a Series B funding round, while gold loan marketplace Oro Money has raised around $12.5 million.
Accel, Harmony Partners lead Jiraaf’s funding
Jiraaf, a platform for new-age, high-yield fixed-income investment opportunities, has secured $8.7 million in a Series B funding round, according to Entrackr.
US-based venture capital firm Accel Partners and expansion-stage investor Harmony Partners led the funding round, while Indian early-stage investor Capital A participated in the funding along with other angel investors, added the report.
The company had raised $7.5 million in its Series A funding round led by Accel Partners, Mankekar Family Office, Aspire Family Office (Dr Bhaskar Shah), and other angel investors in June last year.
Founded in September 2021 by finance professionals Saurav Ghosh and Vineet Agrawal, Jiraaf claims to offer high-yield non-market-linked investment opportunities with yields in the range of 8-20% and tenors between 30 days to 3 years.
Singularity Ventures, Three State Capital back Oro Money
Gold loan marketplace Oro Money has raised around $12.5 million, reported Entrackr.
New investors, including Singularity Ventures and Three State Capital, invested Rs 28 crore and Rs 16 crore, respectively, while existing investors PI Opportunities Fund and 021 Capital put in Rs 24 crore and Rs 12 crore, respectively, according to Entrackr.
Individual investors, including Caratlane co-founder Mithun Sacheti and Jaipur Gems CEO Siddhartha Sacheti, invested Rs 25 crore, added the report.
Founded in 2020, Oro is a platform that helps unlock the potential of a users’ gold by connecting them with financial institutions. The company had raised Rs 36 crore in Series A funding in February last year.