11.August.2021 – Fintech startup, Grip Invest announced that it raised USD 3 Million in a Series A funding. This round was led by Endiya Partners and Venture Highway, as said by the startup.
The other participants in this round were AdvantEdge, Gemba Capital, Anicut Angel Fund. Some of the angel investors also took part in this round like Gaurav Gupta, CEO, Cube Wealth; Akash Sinha and Reeju Datta, Co-founders, Cashfree; Satyen Kothari, founder, Cube Wealth; FMS Launchpad; Ankit Agrawal, CEO, Navi Technologies.
It plans to utilize this funding raised to propel the range of the products it offers for investment, develop and launch new features for the customers and strengthen the workforce.
Words from the investors –
“Mass-affluent retail investors in India are greatly underserved – other alternatives like P2P or revenue-based financing typically do not have the risk-adjusted returns that asset-backed products on Grip provide. There is a strong need for a platform like Grip..,” said Samir Sood, Founder, Venture Highway
About Grip Invest –
Grip Invest was founded by Vivek Gulati and Nikhil Aggrawal, having its headquarters in Gurgaon. It is a platform that aids investors in investing their money in asset-backed investment options.
Till now, it has more than 80,000 retail investors and has facilitated investments of more than INR 75 crore. By 2022, it aims to facilitate INR 1000 crore in investments. The startup has raised USD 3.6 Million in funding since its inception.
“While fintech has revolutionised how we think about payments, stock-investing, loyalty rewards, and money transfers, 99 per cent 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,” Nikhil said in a press statement.
Currently, Grip Invest claims that it has an investor base in more than 42 countries and nearly 322 cities across the globe. It has facilitated more than 30 companies like Vogo, BlueTokai, Udaan and Furlenco, and a few more.
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