Grip Invest Raises $10 Million in Equity and Debt

Grip Invest, an alternative investment platform, has successfully raised $10 million in a combined funding round, comprising both equity and venture debt.

The round was led by Stride Ventures, contributing $8.5 million in fresh equity and convertible notes, and $1.5 million in venture debt. New investors LC Nueva and Multiply Ventures participated in the round, along with existing investors Venture Highway, Anicut Capital, and AdvantEdge.

Company Background:

Founded in June 2020 by Nikhil Aggarwal and Vivek Gulati, Grip Invest focuses on alternative investments, offering users opportunities to invest in fixed-income products, commercial property, and early-stage startups through its category-I alternative investment fund (AIF). The platform aims to broaden the investment interface for more distributors, enhance customer education, and increase awareness of investment options.

Use of Funds:

The funds raised will be directed toward strengthening the application programming interface (API) stack to expand the investment interface for a wider audience. Grip Invest plans to focus on customer education initiatives to raise awareness about the investment options available on the platform. The goal is to diversify investment options and improve the user experience, drawing parallels with equity markets and systematic investment plans (SIPs).

Current Achievements:

Grip Invest claims to have assets under management (AUM) of Rs 815 crore, with a significant portion invested in securitized debt instruments (SDIs) and corporate bonds. The platform has attracted 250,000 registered users, with 25,000 having made at least one investment.

Future Plans:

With the new funding, Grip Invest aims to double its annual AUM to Rs 1,000 crore by the end of FY25. The platform also targets increasing its investor base to 50,000 as part of its expansion plans and efforts to offer a wider range of investment opportunities.