Jiraaf
Jiraaf is a Bengaluru-based, SEBI-regulated online bond platform that lets Indian retail investors buy listed corporate bonds, government securities, treasury bills, and other fixed-income products with low minimums via its web and mobile apps.
- Company typePrivate
- Founded2021
- HeadquartersBengaluru, India
- Headcount51–100
- GTM typeB2C
- OfferingSoftware
What Jiraaf does
Jiraaf Platform Private Limited, founded in September 2021 by Saurav Ghosh and Vineet Agrawal and headquartered in Bengaluru, is a SEBI-regulated online bond platform provider (OBPP) and stock broker (registration INZ000315538) operating on the NSE (Member ID 90355) and BSE (Member ID 6835) debt segments. Its core product is a direct-to-consumer web and mobile platform that enables retail investors in India to purchase listed corporate bonds, treasury bills, G-Secs and SDLs, sovereign gold bonds, securitized debt instruments, and partner-bank fixed deposits, with minimum investments as low as Rs 1,000. The platform is augmented by a Bond Analyser Suite, a comprehensive Bond Directory, and RA Research reports powered by SEBI-registered analyst YieldX, providing institutional-grade analytics tailored to retail users. As of FY25, the company reported operating revenue of Rs 20 crore (up 14% from Rs 17.5 crore in FY24), losses of Rs 25.75 crore, over 125,000 registered users, more than 50 issuer partnerships, and Rs 2,300 crore of investments originated with zero defaults. Revenue is generated on a transaction-fee / brokerage basis on debt-segment trades routed to NSE and BSE; the company has raised approximately $20.9M across a 2022 Series A led by Accel, a 2023 Series B co-led by Accel and Harmony Partners, and a March 2026 extended Series B led by Accel with Aspire Financial and Hindustan Media Ventures. Jiraaf is held under parent entity AI Growth Private Limited and is pursuing inorganic growth via a flagged 2026 combination with Power2SME positioned as an IPO-track consolidation.
Jiraaf firmographics
Firmographics- Name
- Jiraaf
- Legal name
- Jiraaf Platform Private Limited
- Website
- https://jiraaf.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Jiraaf is a Bengaluru-based, SEBI-regulated online bond platform that lets Indian retail investors buy listed corporate bonds, government securities, treasury bills, and other fixed-income products with low minimums via its web and mobile apps.
- Ownership category
- akta.pro rank
Jiraaf industry classification
Industry- Product category
- Online Bond Platform (Retail Fixed Income)
- NAICS
- Securities and Commodity Contracts Intermediation and Brokerage (5231), Investment Banking and Securities Intermediation (523150)
- SIC
- Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)
- akta.pro primary industry
- Fixed Income Electronic Trading Platforms (Bonds/Credit) (FSAFANAB)
- akta.pro secondary industry
- Government Bond (Sovereign) Trading Platforms (FSAFACAA)
Keywords
Where Jiraaf is headquartered
LocationHeadquarters
- HQ city
- Bengaluru
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
Jiraaf business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Brokerage/Transaction Fees: Jiraaf acts as a SEBI-registered stock broker (INZ000315538) for the NSE and BSE debt segments, earning brokerage fees on bond transactions executed through its platform. The platform facilitates buying and selling of listed corporate bonds, government securities, T-bills, and other fixed income instruments.
- Platform Services: Provides online investment platform services enabling retail investors to access fixed income markets. Revenue generated through transaction facilitation on the NSE and BSE debt segments.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Listed Corporate Bonds - 12-36 month tenure with 8%-14% yields |
| Transaction based/ take rate | Pay-as-you-go | Treasury Bills - 3-12 month tenure with 6.5%-7.5% IRR |
| Transaction based/ take rate | Pay-as-you-go | Sovereign Gold Bonds - 8 year tenure with 2.5% fixed annual return |
| Transaction based/ take rate | Pay-as-you-go | G-Secs & SDLs - 5-40 year tenure with 7%+ returns |
| Transaction based/ take rate | Pay-as-you-go | Securitized Debt Instruments - 8%-15% yields |
| Transaction based/ take rate | Pay-as-you-go | Fixed Deposits - Up to 8.50% returns from partner banks |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels7 records
Jiraaf product offering
Product offeringCore offering
Jiraaf is a SEBI-regulated Online Bond Platform Provider (OBPP) and stock broker (Reg. INZ000315538) that enables retail investors in India to access listed fixed income instruments — corporate bonds, treasury bills, government securities, sovereign gold bonds, securitized debt instruments, and partner-bank fixed deposits — through a self-serve web and mobile platform that routes orders to NSE and BSE debt segments. The platform complements transaction execution with Bond Analyser analytics, a Bond Directory of all listed Indian bonds, and SEBI-registered RA Research (powered by YieldX) for institutional-grade bond research, with investments starting from Rs 1,000 in select products.
Product overview
Jiraaf is an online bond platform offering a portfolio of fixed-income investment products. The core offering consists of six product categories: Listed Corporate Bonds, Sovereign Gold Bonds, Treasury Bills, G-Sec and SDLs, Securitized Debt Instruments, and Fixed Deposits. These are distributed through a unified platform that also provides supplementary analytical tools including Bond Research (RA Research reports), Bond Analyser, Bond Directory, and a Refer & Earn program. The platform is operated by Jiraaf Platform Private Limited and is SEBI-regulated as a stock broker.
Differentiator
Problem solved
Functional benefit
Products and services
- Listed Corporate Bonds Debt securities issued by corporations and listed on NSE/BSE, accessible to retail investors on the Jiraaf platform with yields of 8-14% and tenures of 12-36 months; credit-rated by agencies such as CRISIL, ICRA and CARE and collateral-backed.
- Sovereign Gold Bonds (SGBs) Government securities issued by the RBI offering a 2.5% annual coupon plus gold price appreciation, with 8-year maturity and optional early encashment after 5 years; traded on the platform with no capital gains tax if held to maturity.
- Treasury Bills (T-Bills) Short-term government debt instruments with 91, 182 or 364-day tenures offered at discount on the Jiraaf platform, providing 6.5-7.5% IRR with a sovereign guarantee and no TDS on repayment.
- G-Secs and SDLs (Government Securities & State Development Loans) Long-term government-issued bonds — G-Secs with 5-40 year maturities and SDLs with 10-35 year maturities — offering 7%+ risk-free returns with sovereign backing, accessible to retail investors via the Jiraaf platform.
- Securitized Debt Instruments (SDI) Securities representing ownership in pools of income-generating assets such as loan receivables, invoice receivables and real assets, offered via the Jiraaf platform with yields of 8-15% backed by a rated pool of underlying assets.
- Fixed Deposit (partner banks) Fixed deposit investments through partner banks and NBFCs (including Shivalik SF Bank at 8.50%, Unity SF Bank at 8.30%, Utkarsh SF Bank at 8.25%, Suryoday SF Bank at 8.25% and DCB Bank at 8.00%), with minimum investment from Rs 1,000 and DICGC insurance up to Rs 5 lakh.
Quantifiable outcome
- Over Rs 2,300 crore of investments originated with zero defaults
- +2 more outcomes
Companies that use Jiraaf
Customer profileNamed customers8 records
Segments1 record
Ideal customer profiles1 record
Jiraaf technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Jiraaf partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered minor and core.
- Power2SMEminorJiraaf-Power2SME combination cited as example of consolidation creating larger, more strategic businesses closer to IPO exit. Power2SME is a B2B fintech company; consolidation discussions suggest potential merger or strategic combination.
- YieldXcoreSEBI-registered research analyst providing institutional-grade bond analysis and recommendations on Jiraaf's platform. The partnership enables Jiraaf to offer pro-grade bond research reports for retail investors covering business/management analysis, financial analysis, issuance assessment, pricing evaluation, and sector outlook.
Scale indicators12 records
Recent moves6 records
Expansion highlights5 records
Jiraaf competitors and assessment
Company assessmentDirect peers
- Wint Wealth: Wint Wealth is an Indian online bond platform offering retail investors curated fixed income products including corporate bonds, government securities, and secured debentures. It is the most direct competitor to Jiraaf, serving the same retail fixed income audience in India with a similar SEBI-regulated OBPP-style model.
- Grip Invest: Grip Invest is an Indian retail fixed income platform offering corporate bonds, lease financing products, and securitized debt instruments to individual investors. It directly competes with Jiraaf on the retail bond and SDI front with a similar low-minimum, SEBI-regulated approach.
- BondsIndia: BondsIndia is one of India's earlier online bond platforms targeting retail investors with corporate bonds, government securities, and tax-free bonds. It directly competes with Jiraaf in the same SEBI-regulated retail fixed income distribution space.
- INDmoney: INDmoney is an Indian wealth management platform that aggregates multiple asset classes including fixed income products, mutual funds, and equity. It overlaps with Jiraaf on retail bond distribution and competes for the same retail investor audience seeking fixed income diversification.
- Kuvera: Kuvera is an Indian direct-mutual-fund and wealth management platform that has expanded into fixed income and bond offerings for retail investors. It targets the same goal-based retail savings audience with overlapping product categories.
Emerging players
- Fixed Setu: Fixed Setu is an emerging Indian online platform facilitating retail access to bonds and fixed income products. As a smaller, niche player, it overlaps with Jiraaf in the retail bond distribution space but lacks the same scale and product breadth.
Broad incumbents
- Groww: Groww is one of India's largest retail investment platforms spanning equities, mutual funds, and increasingly fixed income products. While broader in scope, its move into bonds and fixed income makes it a meaningful competitor to Jiraaf in retail fixed income distribution.
- Zerodha (Coin): Zerodha is India's largest retail stock broker with a massive captive user base and growing fixed income and bond offerings via its Coin platform. Its scale and brand make it a competitive incumbent for retail fixed income flow that could challenge Jiraaf's niche leadership.
- Upstox: Upstox is a major Indian retail broker offering equities, derivatives, and increasingly mutual funds and fixed income products. Its broad retail brokerage footprint and mobile distribution overlap with Jiraaf's target investor profile.
Others
- Power2SME: Power2SME is a B2B fintech platform serving SME financing and procurement. Cited as a potential consolidation partner for Jiraaf (per public reporting), it represents the strategic adjacency into SME-side bond issuance/distribution rather than a direct competitor.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Jiraaf social profiles
Digital presenceJiraaf financial estimates
Financial estimateRevenue estimate
Valuation estimate
Jiraaf leadership team
Management profileNumber of profiles
Profiles3 records
Jiraaf funding detail
Funding detailFunding overview
Funding rounds2 records
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Jiraaf M&A and investment
M&A and investmentM&A
Investments2 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Jiraaf
What does Jiraaf do?
Jiraaf is a SEBI-regulated Online Bond Platform Provider (OBPP) and stock broker (Reg. INZ000315538) that enables retail investors in India to access listed fixed income instruments — corporate bonds, treasury bills, government securities, sovereign gold bonds, securitized debt instruments, and partner-bank fixed deposits — through a self-serve web and mobile platform that routes orders to NSE and BSE debt segments. The platform complements transaction execution with Bond Analyser analytics, a Bond Directory of all listed Indian bonds, and SEBI-registered RA Research (powered by YieldX) for institutional-grade bond research, with investments starting from Rs 1,000 in select products.
Is Jiraaf a public or private company?
Jiraaf is a private company. It is classified as venture growth investor backed and is currently operating.
When was Jiraaf founded?
Jiraaf was founded in 2021. It employs 51 to 100 people.
Where is Jiraaf based?
Jiraaf is headquartered in Bengaluru, India, in the Asia region.
How does Jiraaf make money?
Two revenue lines are on record. Brokerage/Transaction Fees are the primary driver. The others are platform Services.
Who are Jiraaf's main competitors?
Direct peers on record are Wint Wealth, Grip Invest, BondsIndia, INDmoney and Kuvera. Fixed Setu is listed as an emerging player. Broad incumbents are Groww, Zerodha (Coin) and Upstox. Power2SME is listed as an others.
Does Jiraaf have an API?
No public API is recorded for Jiraaf.
What industry is Jiraaf in?
Jiraaf's product category is Online Bond Platform (Retail Fixed Income). Its primary akta.pro industry code is FSAFANAB, Fixed Income Electronic Trading Platforms (Bonds/Credit), with a secondary code of FSAFACAA, Government Bond (Sovereign) Trading Platforms. Its NAICS code is 5231 and its SIC code is 6211.