Jiraaf launches Online Bond Platform, plans to offer a wide range of debt securities
Leading fixed income platform Jiraaf has secured an Online Bond Platform Provider (OBPP) license from the Securities and Exchange Board of India (SEBI) enabling it to offer broad range of listed products including listed Corporate bonds, Securitized Debt Instruments (SDI), Sovereign Gold Bonds (SGBs), T-Bills, G-secs, and State Development Loans (SDL) to retail investors.
“We are thrilled to contribute towards SEBI’s goal of growing retail participation in India’s bond market. The corporate bond market is growing every year and according to CRISIL it is set to double to 100+ lakh crores by FY30 from 45 lakh crores today. Similarly, on the retail consumption side, we are observing retail investor participation in corporate bond market growing steadily from mere 0.75% participation in FY 2022, to 2% in FY 2023 before ending around 4.1% end of last calendar year. We believe technology platforms can play a significant role by making fixed income more accessible, building market confidence, and easing investments. As SEBI considers further measures like reducing face value, we believe fixed income participation is at an inflection point. We look forward to unlocking the vast potential of India’s bond market to support both businesses and investors,” said Vineet Agarwal, Co-Founder, Jiraaf.
Jiraaf curates and offers select listed fixed income investment opportunities through a customer friendly digital platform. The platform offers diverse opportunities which allows an investor to build a fixed income portfolio between 6% to 18% annual returns with a tenure starting from 3 months to 3 years with minimum ticket size of INR 10,000.
Saurav Ghosh, Co-Founder at Jiraaf said: “Our user-friendly platform leveraging strong technology eliminates the need for cumbersome paperwork, offering a seamless online experience from KYC to investment, all without the need for human assistance. We remain committed to curating diversified high quality investment opportunities for our customers across the risk return spectrum and providing them with a comprehensive dashboard to monitor all their investments all in one place. As SEBI enables more market participation, we work towards making Jiraaf – the platform of choice for all fixed income investors.”
Founded in September 2021 by Saurav Ghosh and Vineet Agrawal, Jiraaf is a part of AI Growth Pvt. Ltd and led by seasoned and experienced teams across growth and customer relations, investments, technology, products, and strategy. The leadership team collectively possesses expertise in banking, financial markets, credit risk underwriting, and portfolio management, amassing over 100+ years of experience. Jiraaf has established itself as a market leader with more than 1,60,000 registered users in the last two years. It has seen investment over INR 2,500 crores through the platform as of November 2023. AI Growth had raised equity $8.7mn equity in Series B from Accel and Harmony Partners in October’23.
About Jiraaf:
Jiraaf is a SEBI registered online bond digital platform for listed fixed income investment opportunities and provides customers easy access to modern-day investments. Jiraaf provides investors curated and listed opportunities across varied fixed income product categories like Corporate Bonds, Structured Debt Instruments, SGBs, and Government Securities. The company originates, structures, and provides risk assessment evaluation on all opportunities brought on the platform as they endeavor towards creating a world-class debt platform. Opportunities brought by Jiraaf typically have annualized IRR between 6-18% with tenors ranging from 3 months to 3 years and have a minimum ticket size as low as INR 10,000.
