Grip, an alternative investment platform, announced that it has teamed with VRO hospitality for a ₹5 crore lease finance agreement. Grip will allow its retail investors to participate in the hospitality space by leasing assets such as kitchen equipment, furniture and fixtures, and IT equipment as part of the agreement.
VRO Hospitality, a Bangalore-based hospitality brand, operates in offline and online kitchen spaces.
“With new and innovative concepts to serve the ever-growing appetite of our customers, we are happy to partner with a company like Grip to provide an investment opportunity to retail investors. With alternative finance options that Grip provides, we are able to focus on our growth and expansion in cities, domestic and international,” said Sharath Rice, co-founder and director of VRO Hospitality.
Grip, founded by Nikhil Agarwal, Aashish Jindal, and Vivek Gulati in 2020, allows retail investors to invest in non-market linked alternative investment options for as low as ₹10,000. Asset-backed leasing, inventory finance, pre-leased commercial buildings, startup equity, and subscription-based financing are among the company’s offerings.
“In India, the revenue in the Food and Beverage industry is expected to show an annual growth rate of 14.2%, primarily driven by growing urbanization and surging young population demands. Lease Financing plays an important role in enabling this growth. It can meet different forms of capital requirements and unlock potential growth. We are excited to collaborate with VRO and hope to drive significant growth in the segment,” said Nikhil Aggarwal, founder and CEO of Grip.
Grip claims to have raised over ₹206 crores in funding for over 80 businesses, with an average IRR of 21% on the opportunities listed on its platform. The company has over 100 deals on its site, with no reported default on promised returns.
