Grip Invest Raises $10 Mn To Diversify Product Portfolio

SUMMARY

The funding round was a mix of equity and debt, with $1.5 Mn coming in debt and the remaining through fresh equity and convertible notes

Grip Invest’s Series B round was led by Stride Ventures and saw participation from LC Nueva, Multiply Ventures, and Venture Highway, among others

Grip plans to use the proceeds to strengthen its API stack and make its investment interface available to more distributors

Alternative investment platform Grip Invest has raised $10 Mn in its Series B round, which was a mix of equity and debt and led by Stride Ventures.

While the startup raised $1.5 Mn in venture debt, the remaining $8.5 Mn was raised via fresh equity and convertible notes.

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

The funding round comes more than two years after Grip Invest raised INR 21 Cr ($3 Mn) in its Series A round led by Venture Highway and Endiya Partners in August 2021.

Founded by Nikhil Aggarwal and Vivek Gulati in June 2020, Grip is an alternative investment platform. It allows users to invest in products such as corporate bonds, securitised debt instruments (SDIs), and commercial property. The platform also allows investors to back early stage startups through its Category-I alternative investment fund (AIF).

The startup also holds a SEBI Online Bond Platform Provider (OBPP) license and offers listed, credit-rated investment opportunities executed through its integration with the NSE.

“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),” Aggarwal said.

Grip also plans to use the proceeds to strengthen its API stack, making its investment interface available to more distributors. It is also expected to use the funds for customer education and expanding awareness about investment options.

Since its inception, Grip claims to have assets under management (AUM) of INR 815 Cr.

“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 of Stride Ventures.

According to Inc42 estimates, fintech is set to become a $2.1 Tn+ market opportunity by 2030. Investment tech is the fastest-growing subsegment within fintech, as it is currently growing at a CAGR of around 30% to reach $74 Bn in market opportunity by 2030.