Mumbai, Aug 11: Grip Invest, a digital platform for facilitating new-age asset-backed investments, has raised USD 3 million (Rs 21 crore) in its series A round led by Venture Highway and Endiya Partners.
The round also saw participation from AdvantEdge, existing investors Anicut Angel Fund and Gemba Capital, as well as ecosystem angels such as Satyen Kothari (Founder, Cube Wealth & Citrus Pay), Gaurav Gupta (CBO, Cube Wealth), Akash Sinha (Co-Founder, Cashfree), Reeju Datta (Co-Founder, Cashfree), Ankit Agarwal (CFO, Navi) and FMS Launchpad.
Grip aims to enable investors to create a more diversified portfolio by providing access and ease of transaction for multiple new age asset-backed investment options.
On the fund raise, Nikhil Aggarwal, Founder & CEO, Grip Invest, said, ?While fintech has revolutionized how we think about payments, stock-investing, loyalty rewards and money transfers, 99 pc of retail investors are still left with just two investment options fixed deposits and mutual funds. Grip’s mission is to change the way Indians think about investing and facilitate wealth creation opportunities with healthy diversified portfolios. At the same time, we want these investors to have direct access to finance growth and asset creation for the businesses of tomorrow.
For example, 40% of investments via Grip have gone towards building a robust growth in the electric vehicles industry. Sateesh Andra, MD of Endiya Partners, said, “Indian retail (HNI and Millennials) investors have been on the constant lookout for great investment options in the risk-reward spectrum beyond the options at the extreme ends – bank FDs / insurance policies or stock markets / mutual funds.
Grip Invest offers them a great opportunity to get higher fixed income returns along with the backing of an asset (lower risk). The team led by Nikhil has a thorough understanding of the market opportunity and how to go about building a large company. We are excited to be part of Grip’s Journey”.
(UNI)
Follow our WhatsApp channel
