Grip Invest, a financial technology platform, has announced that it has secured $3 million in a Venture Highway and Endiya Partners co-led series A funding round.
Investors including AdvantEdge and existing investors such as Gemba Capital and Anicut Angel Fund, along with angel investors Satyen Kothari, Gaurav Gupta, Akash Sinha and Reeju Datta, Ankit Agarwal and FMS Launchpad participated in the latest funding round.
“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,” commented Samir Sood, Founder of Venture Highway.
“While fintech has revolutionised how we think about payments, stock-investing, loyalty rewards, and money transfers, 99 percent 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,” added founder Nikhil Aggarwal.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.