Grip Invest, an investment platform that allows retail investors to make small ticket investments in physical assets that earn lease income, has raised an undisclosed round of equity funding led by Anicut Angel Fund and Gemba Capital.
Angel investors Anupam Mittal, Sunjay Kapur and Maninder Gulati also participated in the funding round.
Founded in 2020 by Nikhil Aggarwal and Vivek Gulati, Grip lists curated investment leasing opportunities on its platform, investors browse through the active assets to review financial details, lease terms and return expectations and identify the right investment opportunity.
“We continue to see 15%+ week on week growth in new investing users, close to 50% repeat investment rate as well as great traction for leasing opportunities, including with large ventures like Bounce, Rentomojo and Furlenco,” said Nikhil Aggarwal, Co-Founder, Grip. “It is also rewarding to see companies being able to leverage our platform to scale their business faster without worrying about equity dilution and at a cost that meets their unit economic targets. We now have the capital to scale our platform and leverage our investors’ deep understanding of fintech business models, credit processes and network of potential users.”
“Given the innovation that has happened and is happening across fintech, we also see Grip’s business scaling faster as they leverage other online distribution platforms and the growing customer appetite and awareness for different types of investments,” said IAS Balamurugan, Partner, Anicut Capital. “We are excited to partner with a team of experienced, second-time founders who understand how to scale businesses and bring in relevant experience across finance, business development and organization development.”
Adding to this, Grip Invest also announced the appointment of Kinshuk Kumar as Wealth Manager. Kinshuk is a Delhi University graduate and has been previously managing wealth & investments at brands like Anand Rathi Wealth Management & SBI Mutual Fund.
As per the company’s website, Rajiv Gupta, of DBS Bank and Sidharrth Shankar, partner of law firm J Sagar Associates are part of the company’s advisory board.
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