Grip Invest Raises $10M in Series B Funding Round Led by Stride Ventures

• ByStartupStory     |    January 10, 2024

Delhi-based asset financing firm Grip Invest has secured $10 million in Series B funding from Stride Ventures, LC Nueva, and Multiply Ventures. Existing investors Venture Highway, Anicut Capital, and AdvantEdge also participated in the round. The funding round comprised fresh equity of $8.5 million and convertible notes worth $1.5 million. The firm stated that the funds would be used to expand business operations, refine its product distribution strategy, and add investor-focused features to its technology platform.

Founded in 2020 by Vivek Gulati, Nikhil Aggarwal, and Aashish Jindal, Grip Invest is a direct-to-consumer high-yield investment platform that assists retail investors in allocating their funds to new-age, asset-backed investment options.

According to a company statement, Grip Invest views its growth prospects as driven by several trends, including a shift in wealth management behavior from a predominant relationship-manager model to digital-hybrid platforms, the increasing number of ‘affluent’ Indians seeking attractive risk-reward propositions, and enhanced investor confidence due to positive SEBI regulations, facilitating faster adoption and penetration.

Including the Series B round, Grip Invest has raised over $15 million in funding to date. In January 2022, the company secured $1 million led by its top 200 users, who became shareholders. In August 2021, Grip Invest raised $3 million in a Series A funding round led by Venture Highway and Endiya Partners. The company also operates Grip Fixed Income Opportunities Fund, a SEBI Category II AIF, and has co-founded Electrifi Mobility, a full life-cycle management company for electric vehicles.

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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