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[Funding alert] Gurugram-based Grip Invest raises pre-Series A round led by Anicut Angel Fund

Grip Invest, a Gurugram-based digital platform for facilitating investments, has secured its first round of equity funding in a round led by Anicut Angel Fund with participation from Gemba Capital and well-known angel investors such as Anupam Mittal, Sunjay Kapur, and Maninder Gulati

Launched in June 2020, Grip Invest provides a lease finance platform where investors can purchase and lease assets to companies, providing them an additional investment instrument while enabling companies to grow faster by converting capex to opex.  

“We continue to see over 15 percent week-on-week growth in new investing users, close to 50 percent repeat investment rate as well as great traction for leasing opportunities, including with large ventures like Bounce, Rentomojo and Furlenco,” said Nikhil Aggarwal, Founder and CEO, Grip Invest.

“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” he added.

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Grip Invest is founded by Nikhil Aggarwal and Vivek Gulati. Prior to Grip, Nikhil co-founded and served as  COO of Chalo, a mobility startup for city buses. He started his career at HSBC and then worked for six years with the Investment Banking team at Morgan Stanley, India. Nikhil also currently serves as a Consultant to the Transport Practice at the World Bank. Vivek was previously part of the business development team at Chalo and led business development for the expansion team for OYO Hotel’s domestic and international operations.

“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. 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 organisation development,” said IAS  Balamurugan, Partner, Anicut Capital.  

Anicut Angel Fund is a sector agnostic equity fund for early-stage companies and has invested/managed  more than 120 investments.

The Anicut Angel Fund is sponsored by Anicut Capital which also manages two SME debt funds with an AUM of $100 million.

Sujata Sangwan
Dailyhunt
Disclaimer: This story is auto-aggregated by a computer program and has not been created or edited by Dailyhunt. Publisher: YourStory
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