Indian investment platform Altitude raises $500k in Pre-seed funding
By Gloria Mathias
Altitude, a financial services platform offering alternative investment tools, has raised around $500k in a pre-seed round and is on a mission to build an alternate investment ecosystem leading to the launch of Prism.
The funding round saw participation from over 40 esteemed investors from notable institutions and various sectors. This includes founders, operators, and leaders from top institutions such as Swiggy/DineOut, Yes Bank, Good Glamm Group, Robinhood, and Wipro.
The funds will accelerate the launch of its flagship product Altitude Prism, which is a Structured Fixed Income Instrument, which altitude aims to list on the National Stock Exchange. Prism is Altitude’s inaugural multi-asset fund that can yield returns. A part of the funds will be used to strengthen leadership in the fund and risk management teams at Altitude.
“At Altitude, we are on a mission to expand the fixed income horizon with safe and high-yield investment instruments. The funding we have raised is an important milestone in realising that mission,” said Krishna Maggo, Founder of Altitude.
“We’re certainly not just another run-of-the-mill Fixed Yield Investment Platform peddling mundane bonds, invoice discounting, or lease finance options. At Altitude, we are crafting high-yield investment instruments that not only promise exceptional returns on traditional assets but also introduce essential features such as diversification and early liquidity,” added Maggo.
Altitude aims to create a financial ecosystem with superior investment opportunities and make this ecosystem accessible to a wider audience. On the Altitude platform, investors will find a new class of alternatives that are beyond the usual Corporate and NBFC Bonds. The platform will cater to both existing and new investors.
“In a market where investors have long hungered for better returns, Altitude’s commitment to transforming the investment landscape with safe and high-yield instruments, exemplified by the upcoming Prism fund offering 16-18% yield, couldn’t be timelier. With Altitude’s recent funding and innovative approach, it is poised to set new industry benchmarks and bridge the gap in India’s investment landscape,” said Gaurav Sharma, an Investor in Altitude.
IBSi Daily News Analysis
November 29, 2023
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