Deepti Sri · · 2 min readExclusive: Grip Invest looks to raise up to $8m in series B money
Grip Invest founders (from left) Aashish Jindal, Nikhil Aggarwal, and Vivek Gulati
Grip Invest, an India-based fintech firm, is set to raise up to US$8 million in its series B funding round over the next three to four months, the company told Tech in Asia.
Grip Invest is an investment platform that offers a curated selection of investment opportunities beyond traditional assets such as stocks, mutual funds, and cryptocurrencies. Unlike market-connected assets, Grip Invest’s offerings provide risk-adjusted returns to investors.
Investors can access detailed information about each investment opportunity, including commercial terms, expected returns, partner profiles, investment highlights, and associated risks.
The fintech firm aims to hit profitability in the next 12 to 18 months on the back of its “healthy” financial performance over the past year. Grip Invest has seen an increase of 60% to 70% in revenue margins.
Regarding the upcoming funding round, the company will primarily allocate the capital raised toward improving the platform’s user experience and developing a more “intuitive” product. The company said it will also invest in regulatory compliance.
In a bid to expand to a broader customer base, the company is looking to adopt a B2B2C model.
This model entails collaborating with financial advisors, banks, non-bank financial companies, and other platforms. Through these partnerships, Grip Invest aims to distribute its curated investment products, making them more readily available to investors.
See also: Meet the 50 top-funded startups and tech companies in India
Grip Invest aims to enable over 10 billion rupees (US$121.8 million) in investments this year.
In August 2021, the company raised US$ 3 million in its series A round led by Venture Highway and Endiya Partners. Other investors such as AdvantEdge Founders, Anicut Angel Fund, and Gemba Capital also took part.
Currency converted from Indian rupee to US dollar: US$1 = 82.09 rupees.
Editing by Miguel Cordon and Dhania Putri Sarahtika
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