Grip Invest, an alternative investment platform, raises $10M in equity and debt financing

Grip Invest, an alternative investment platform, has raised $10 million in a combined equity and debt funding round. The round was led by Stride Ventures, with $8.5 million in fresh equity and convertible notes, and $1.5 million in venture debt. 

New investors LC Nueva and Multiply Ventures, along with existing investors Venture Highway, Anicut Capital, and AdvantEdge, also participated in the round.

Focusing on alternative investments 

Founded in June 2020 by Nikhil Aggarwal and Vivek Gulati, Grip Invest has established itself as a significant player in the online investment platform space. The startup focuses on alternative investments, offering users opportunities to invest in fixed-income products like corporate bonds and securitized debt instruments (SDIs), commercial property, and early-stage startups through its category-I alternative investment fund (AIF).

What is the purpose of fundraising?

According to CEO Nikhil Aggarwal, the startup's focus will be on strengthening the application programming interface (API) stack to broaden the investment interface for more distributors.

Additionally, the funds will aid in customer education and expand awareness of investment options available on the platform. Aggarwal emphasizes the goal of diversifying investment options and enhancing the user experience, likening it to the equity markets with systematic investment plans (SIPs).

Future plans

Grip Invest claims to have assets under management (AUM) of Rs 815 crore, with a significant portion in SDIs and corporate bonds. The platform boasts 250,000 registered users, with 25,000 having made at least one investment.

The startup now aims to double its annual AUM to Rs 1,000 crore and increase its investor base to 50,000 by the end of FY25.

“Their innovative approach in offering non-market linked investment opportunities, previously exclusive to a few, aligns with the macro vision of an inclusive financial future for India. Our participation in the Series B round is a strategic move, driven by the clear demand for diversified investment options in India,” said Ishpreet Gandhi, founding and managing partner, Stride Ventures.

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