Alternative investment firm Grip Invest gains $10M funding from Stride Ventures, others

Delhi-based alternative investment firm Grip Invest has secured $10 million in Series B funding from Stride Ventures, along with LC Nueva and Multiply Ventures. Existing investors Venture Highway, Anicut Capital, and AdvantEdge also participated in the round.

The round was a mix of fresh equity ($8.5 million) and convertible notes ($1.5 million).

The funding will be utilised towards expanding business operations, perfecting product distribution strategy, and adding investor-focused features on its technology platform, the firm said in a statement.

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

The fintech company believes that its growth opportunity is driven by trends like a shift in wealth management behaviour from a predominant relationship-manager model to digital-hybrid platforms, the growing size of ‘affluent’ Indians who are seeking attractive risk-reward propositions, and bolstered investor confidence on account of positive regulations by SEBI, thus enabling faster adoption and penetration, according to a company statement.

Also Read

How VCs are changing the landscape of MSME financing

Grip Invest has raised a total of more than $15 million in funding to date, including the Series B round. In January 2022, it secured $1 million led by its top 200 users, making these users shareholders, the startup had told YourStory in an interaction.

It raised $3 million in a Series A funding round led by Venture Highway and Endiya Partners in August 2021.

Grip Invest 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.

“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,” Nikhil Aggarwal, CEO and Founder of Grip Invest, said.

“... 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,” Ishpreet Gandhi, Founding and Managing Partner at Stride Ventures, noted.

(The copy was updated with Grip Invest's description.)