Grip Invest, an alternative investment platform, has successfully raised $10m in its latest funding round. The round was a mix of equity and debt, spearheaded by Stride Ventures.
The investment comprised $1.5m in venture debt and $8.5m in fresh equity and convertible notes, according to report The Economic Times. Notable new investors like LC Nueva and Multiply Ventures joined the round, alongside existing investors such as Venture Highway, Anicut Capital, and AdvantEdge.
Founded in June 2020 by Nikhil Aggarwal and Vivek Gulati, Grip offers an online platform for alternative investments. It specializes in fixed-income products like corporate bonds and securitised debt instruments (SDIs), as well as investments in commercial property.
The funds are earmarked for enhancing Grip’s application programming interface (API) stack, according to Aggarwal. This improvement aims to extend the platform’s investment interface to a broader range of distributors. Additionally, the company intends to invest in customer education and heighten awareness of its investment offerings.
Grip Invest CEO Nikhil Aggarwal said, “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).”
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