Asset finance company Grip Invest, situated in Delhi, India, has raised $10 million in Series B funding from Stride Ventures, LC Nueva, and Multiply Ventures. Participating in the round were Venture Highway, Anicut Capital and AdvantEdge, among other current investors. The investment round included $1.5 million in convertible notes and $8.5 million in new stock.
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The funding will be utilized to develop investor-focused features for its technology platform, improve its product distribution strategy, and grow business operations. With the money raised, Grip plans to improve its application programming interface (API) stack and expand the number of distributors, who can use its investing interface. Additionally, it anticipates using the money to increase consumer knowledge of the investing possibilities on its platform and to educate customers.
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Nikhil Aggarwal, CEO and Founder of Grip Invest, commented, “The infusion of $10 million, especially in this environment, is a testament to the investor confidence in our business model, growth prospects and team. Stride Ventures is a financial powerhouse that deeply understands alternative investments.” Ishpreet Gandhi, Founding and Managing Partner at Stride Ventures, stated, “Our participation in the Series B round is a strategic move, driven by Grip’s promising growth trajectory and the clear demand for diversified investment options in India. We are investing in the future of financial services, and are committed to catalysing Grip Invest’s rise as a key player in the industry.”
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“We will keep adding more diversity to the investment options on our platform. Further, we look to create the same experience for bonds and high-yield fixed-income products as that of the equity markets with systematic investment plans (SIPs),” Nikhil Aggarwal told.
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About Grip Invest
Founded in 2020 by Vivek Gulati, Nikhil Aggarwal, and Aashish Jindal, Grip Invest is an investor-first, technology-driven, transparency-focused digital investment platform for curated non-market linked alternative investment opportunities across the entire risk-reward spectrum that best cater to an investor’s wealth creation.
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