Delhi-based asset financing company, Grip Invest, has raised $10 million in a Series B funding round led by Stride Ventures, with participation from LC Nueva and Multiply Ventures. Existing investors including Venture Highway, Anicut Capital, and AdvantEdge also joined in the funding. The round included $8.5 million in fresh equity and $1.5 million in convertible notes. Grip Invest plans to utilize the funds for business expansion, optimizing its product distribution strategy, and incorporating investor-centric features into its technology platform.

Established in 2020 by Vivek Gulati, Nikhil Aggarwal, and Aashish Jindal, Grip Invest is a direct-to-consumer high-yield investment platform, guiding retail investors in allocating their funds to modern asset-backed investment opportunities. The company anticipates its growth to be fueled by various trends, including the shift in wealth management behavior towards digital-hybrid platforms, a rising number of affluent Indians seeking attractive risk-reward propositions, and increased investor confidence due to positive SEBI regulations, facilitating swift adoption and penetration.

With the recent Series B funding round, Grip Invest has amassed a total funding of over $15 million. In January 2022, the company secured $1 million, led by its top 200 users who became shareholders. In August 2021, Grip Invest raised $3 million in a Series A funding round, with Venture Highway and Endiya Partners as lead investors. The company operates the Grip Fixed Income Opportunities Fund, a SEBI Category II AIF and has co-founded Electrifi Mobility, a comprehensive life-cycle management company for electric vehicles.

Nikhil Aggarwal, CEO and Founder of Grip Invest, expressed, “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”. Ishpreet Gandhi, Founding and Managing Partner at Stride Ventures, added, “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 catalyzing Grip Invest’s rise as a key player in the industry”.