Kolkata-based fintech startup Altius Investech on September 1 announced that it has raised Rs 6 crore at post money enterprise value of Rs 51 crore.
The firm added that the investment was raised from close associates, professionals and marquee investors. With this, the firm is mulling to invest in technology, increase working capital and open offices in various cities in India and abroad.
Altius, leading platform for investing in pre-IPO & private equity, enables investments into pre IPO companies and tech unicorns looking to go public. Apart from this, the firm is also a start up accredited by DPIIT.
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"The company is in the process to launch a comprehensive state-of the art industry leading website, which will enable investors to trade in Unlisted, Pre IPO, ESOP digitally and seamlessly," Altius director Abhishek Ginodia said.
"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," he further added.
Altius Investech founder Sandip Ginodia, meanwhile, is hoping that the firm 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.
"We have our moat in this highly risky business where there are performance and counter party risk for investor in buying n selling by providing reliable and robust platform with same day execution, escrow, payment gateway, part payment and other value added services by catering to largest retail client base in industry and having clients across all six continents. NRI and Expats as well as marquee investors contribute nearly 40% of our turnover,” Ginodia added.
Among other things, Altius Investech said that they are planning to scale B2B transactions, by rolling out a dedicated partner portal which would make onboarding new clients for our partners effortless. The firm expects to end H1 2021 at a minimum growth of 100 percent on topline & bottomline.