Grip Invest, a direct to consumer (D2C) investment platform for retail investors, has raised $10 million in a Series B funding.
The round consisted of $8.5 million via fresh equity and convertible note as well as $1.5 million in venture debt, Grip Invest said in a statement on Thursday.
According to the statement, the round was led by Stride Ventures, with participation from new investors, LC Nueva and Multiply Ventures.
Existing investors, Venture Highway, Anicut Capital and AdvantEdge also participated in the round, supporting Grip’s growth trajectory and thought leadership in democratizing access to investment opportunities.
The raised capital will be strategically directed in scaling business operations, focusing on driving customer awareness, building a high-trust brand, expanding product distribution, and building additional investor friendly features on Grip’s tech platform.
“The infusion of $10 million, especially in this environment, is a testament to the investor confidence in our business model, growth prospects and team,” said Nikhil Aggarwal, Chief Executive Officer and Founder, Grip Invest.
“Stride Ventures is a financial powerhouse that deeply understands alternative investments,
“We are excited about not just the capital they bring, but also the potential for strategic collaboration. Venture Highway, Anicut Capital and AdvantEdge arrive as third-time investors, and we value their constant support and conviction,” he added.
According to the statement, the growth opportunity for the company is being driven by key megatrends like a shift in wealth management behavior from a predominant relationship-manager model to digital-hybrid platforms, growing size of ‘affluent’ Indians who are seeking attractive risk-reward propositions, and bolstered investor confidence on account of positive regulations by the Securities and Exchange Board of India (SEBI), thus enabling faster adoption and penetration.
With INR 800+ Cr ($97.56 million) in investments already facilitated, Grip Invest said the firm is well positioned to capitalize on this opportunity.
It said investors applauded the company’s positive regulatory developments, including obtaining SEBI’s online bond providers (OBPP) license and integration with the National Stock Exchange (NSE), as well as constant product innovation to launch unique, regulated investment products at ticket sizes starting at INR 1,000.
Over the last 18 months, Grip Invest said the firm has listed India’s first alternative investment instrument on the National Stock Exchange of India (NSE), launched three first-to-market products and was the first platform to fully integrate with the NSE under SEBI’s OBPP license.
Believing that investors deserve better returns combined with more transparent and secure transactions, the company said it will leverage the new capital to enhance its offerings, both in terms of investment products as well as features to make such investments more convenient.
Grip Invest is a D2C, investor-first, SEBI regulated, digital investment platform for high-yield, non-market linked alternative investments.
The company’s mission is to enable Indians to invest in regulated, curated, diversified opportunities offering attractive, predictable returns.
Grip Invest holds a SEBI OBPP license and offers listed, credit-rated investment opportunities which are executed through its integration with the NSE.
The firm also operates Grip Fixed Income Opportunities Fund (GFIO), a SEBI Category II AIF and has co-founded Electrifi Mobility, a full life-cycle management company for electric vehicles.