Gurgaon-based startup Grip secures financing from Anicut and Gemba Capital

Gurgaon-based Grip Invest, a digital platform that facilitates third-party investment has raised an undisclosed round of equity funding by Anicut Angel Fund, Gemba Capital and individual investors Anupam Mittal, Sunjay Kapur and Maninder Gulati.

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

“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.”

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.

“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.”

Grip is co-founded by Nikhil Aggarwal and Vivek Gulati. Prior to Grip, Nikhil also co-founded Chalo, a mobility startup for city buses. He also currently serves as a Consultant to the Transport Practice at the World Bank.