Grip Invest Secures $10 Mn in Series B Round to Expand Investment Options and Strengthen Infrastructure

Alternative investment platform Grip Invest has successfully raised $10 million in its Series B funding round, marking a significant milestone in its journey. The round, a combination of equity and debt, was spearheaded by Stride Ventures.

Out of the total amount, $1.5 million was secured through venture debt, while the remaining $8.5 million was raised through a combination of fresh equity and convertible notes. The funding round saw the participation of new investors, including LC Nueva and Multiply Ventures, alongside existing backers Venture Highway, Anicut Capital, and AdvantEdge.

This funding round comes over two years after Grip Invest’s Series A round in August 2021, which raised INR 21 crore ($3 million) and was led by Venture Highway and Endiya Partners.

Founded in June 2020 by Nikhil Aggarwal and Vivek Gulati, Grip is an alternative investment platform that enables users to invest in various products, including corporate bonds, securitized debt instruments (SDIs), and commercial property. The platform also facilitates investments in early-stage startups through its Category-I alternative investment fund (AIF). Holding a SEBI Online Bond Platform Provider (OBPP) license, Grip offers listed, credit-rated investment opportunities executed through its integration with the NSE.

Nikhil Aggarwal, co-founder of Grip, shared the company’s plans for the future, stating, “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).”

Grip intends to utilize the newly acquired funds to bolster its API stack, expanding its investment interface to reach more distributors. Additionally, the capital will be allocated for customer education initiatives, aiming to raise awareness about available investment options.

Since its inception, Grip claims to have managed assets worth INR 815 crore, reflecting the growing traction in the alternative investment space.

Ishpreet Gandhi, Founding and Managing Partner of Stride Ventures, expressed the strategic significance of their participation in the Series B round, emphasizing the demand for diversified investment options in India.

According to Inc42 estimates, the fintech sector is poised to become a $2.1 trillion-plus market opportunity by 2030. Investment tech stands out as the fastest-growing subsegment within fintech, experiencing a Compound Annual Growth Rate (CAGR) of approximately 30%, with projections to reach a $74 billion market opportunity by 2030.

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