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Updated on: Wednesday, September 01, 2021, 03:10 PM IST

Fintech startup Altius Investech raises Rs 6 cr in Seed round

PTI
Kolkata-based, Altius Investech is platform for investing in pre-IPO and private equity. |

Kolkata-based, Altius Investech is platform for investing in pre-IPO and private equity. |

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Altius Investech raised Rs 6 crores at post-money enterprise value of Rs 51 crore in August from close associates, professionals and marquee investors. The primary objective being, to invest in technology, increase working capital and open offices in various cities in India and abroad, the company said in a press release.

Kolkata-based, Altius Investech is platform for investing in pre-IPO and private equity. The platform enables investments into pre IPO companies and tech unicorns looking to go public. They are also a start up accredited by DPIIT (Govt of India).

According to Abhishek Ginodia, Director, Altius, “The company is in the process to launch a comprehensive state-of the art leading industry website, which will enable investors to trade in Unlisted, Pre IPO, ESOP digitally and seamlessly". Altius is looking to leverage technology to solve current challenges in investing in private shares, larger of them being liquidity and counter party risk.

Ginodia added "India startup ecosystem is at an inflection point with more than 10 startups already in the process of an IPO and the next 100 in pipeline. Our platform will serve as a sounding board for companies to get investors in the secondary space, giving exits to ESOP holders and angel investors. A solution to the illiquidity issue will help in grow the angel investment ecosystem rapidly."

"The Company is quite confident that it will hit an EV of Rs 1,000 crore in a few years, once the technology is in place to automate most of the operations and expand aggressively, as the business model is pretty risk-free and extremely scalable. Altius remains a preferred partner for the top wealth management firms in India, we plan to leverage this going forward as well." said Sandip Ginodia, CEO and Founder at Altius Investech.

"We also plan to scale B2B transactions, by rolling out a dedicated partner portal which would make onboarding new clients for our partners effortless. We expect to end H1 2021 at a minimum growth of 100% on topline and bottomline."

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Published on: Wednesday, September 01, 2021, 03:10 PM IST
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