VC Fund Investments
Fintech platform Grip raises Rs.21-Cr from Venture Highway, Endiya Partners, others
Gurugram-based fintech platform Grip Invest has raised INR 21 crore (USD 3 million) in funding, led by Venture Highway and Endiya Partners. The series A round also saw participation from AdvantEdge, existing investors Anicut Angel Fund and Gemba Capital. Angel investors like Satyen Kothari (Cube Wealth founder), Gaurav Gupta (Cube Wealth executive), Akash Sinha and Reeju Datta (Cashfree co-founders), Ankit Agarwal (Navi CFO) and FMS Launchpad also participated. Grip will utilize the capital to expand the range of investment products offered, launch new user features and strengthen its team. Grip aims to enable investors to create a more diversified portfolio by providing access and ease of transaction for multiple new-age asset-backed investment options. It allows retail investors to participate in lease and inventory financing transactions. Grip has facilitated INR 75 crore in investments, has an over 80,000 retail investor community that is growing at 30% month-on-month (for the last 12 months). The latest round brings the total funding received by the company to INR 27 crore (USD 3.6 million).
From the Venture Intelligence Angel Investments Database: In Nov-20, Grip had raised angel funding from Anupam Mittal, Maninder Gulati, Gemba Capital, Anicut Angel Fund and Sunjay Kapur.
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